The market for signalling devices (both auditory and visual) was valued at USD 1.49 billion in 2015, and is expected to grow at a CAGR of 4.43 percent to USD 2.03 billion by 2022. The study's base year is 2015, and the projection period is from 2016 to 2022.
To define, describe, and forecast the market for audible and visual signalling devices, categorised by product, connection service, and industry.
To give market size estimates for four key regions: North America, Europe, Asia-Pacific, and the Rest of the World.
To determine and analyse the primary factors impacting market growth (drivers, restraints, opportunities, and industry-specific challenges)
Analyze the major product, service, and industry trends that shape and influence the market.
To use Porter's five forces framework to study the market and present a complete Porter's analysis, as well as a value chain analysis and technological analysis.
To examine the market's opportunities for stakeholders and to describe the competitive landscape for the major players.
To examine strategic developments in the signalling devices industry, such as joint ventures, mergers and acquisitions, product launches and developments, and research and development (audible & visual)
To develop a strategic profile of the top companies and conduct a thorough analysis of their market share and core strengths.
The research process utilised to evaluate and forecast the market (both auditory and visual) starts with secondary research to acquire data on significant vendor revenues. Information from numerous journals and databases, such as IEEE journals, Factiva, Hoover's, and OneSource, was used as a secondary source in this study. To determine market segmentation, the vendor offerings were also taken into account. From the revenues of the key players in the market, the entire size of the worldwide signalling devices market (audible & visual) was calculated using the bottom-up technique. The complete market has been divided into different segments after the overall market size has been determined.
Manufacturers such as Honeywell International, Inc. (US), PATLITE Corporation (US), Eaton Corporation Plc (US), Siemens AG (Germany), Emerson Electric Co. (US), NHP Electric Engineering Products (Australia), Rockwell Automation (US), E2S Warning Signals (US), ABB Ltd. (Switzerland), R.STAHL AG (Germany) are part of the signalling devices ecosystem (Germany). These signalling devices' end users come from a variety of industries, including oil and gas, chemical and pharmaceutical, food and beverage, mining, and energy and power, to name a few.
Due to its benefits and many add-on capabilities, signalling audible and visual devices are gaining traction in the current era of hazardous area equipment. Furthermore, these items outperform typical signalling devices such as liquid crystal diode (LCD) lights and other inefficient devices. This article compares various signalling systems and discusses the attention that lighting products have received in the hazardous area equipment industry.
Companies tend to provide the utmost safety to their employees as well as the physical assets in the industry premises by adhering to strict safety norms to avoid any hazards in the workplace caused by flammable gases, flammable liquid–produced vapours, combustible liquid–produced vapours, combustible dusts, or ignitable fibres, according to the findings of the study. The use of signalling equipment, particularly visual signalling devices like as illumination and strobe beacons, which operate as an emergency management system, helps to avert such accidents. Because of the introduction of light-emitting diode (LED) technology, lighting goods have seen consistent expansion in the overall signalling devices industry.
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