The signaling devices market (audible & visual) was valued at USD 1.49 Billion in 2015 and is expected to reach USD 2.03 Billion by 2022, at a CAGR of 4.43% during the forecast period.
The growth of this market is being propelled by the growing focus on industry safety measures and rise in the usage of LED lighting solutions for hazardous and safe areas.
The scope of this report covers the signaling devices market (audible & visual) on the basis of product, connectivity service, industry, and geography. Strobe beacons accounted for the largest market share in 2015. With the increased demand for strobe beacons in various industry applications, more advancements are taking place, and the end users are focusing on integrating signaling devices as an effective emergency management device in their industry premises.
The oil and gas industry accounted for the largest share of the overall market (audible & visual). The signaling devices market (audible & visual) for the oil and gas industry is expected to grow at a high rate between 2016 and 2022. The need for high-performance signaling devices that can operate efficiently in a variety of challenging environments is driving the demand for these products in the oil and gas industry.
The wireless connectivity services segment is expected to hold a major market share during the forecast period. The growth of the wireless services segment is especially attributed to its lower installation cost, cablefree environment, requirement of reduction in space and weight, and so on.
The growing focus on increasing safety measures in industries, especially process and cooling industries, is creating a good demand for flame and explosion-proof signaling audio and visual devices such as horns, speakers, strobe beacons, lightings, and so on. Thus, the signaling devices market (audible & visual) is expected to exhibit a steady rate of growth in the next six years. However, the key factor which is limiting the growth of the market (audible & visual) is that the wireless signaling devices act as a source of ignition in hazardous areas. In addition, manufacturing signaling devices that can operate in wide areas and overcome noise is the key challenges for the industry players.
The prominent players profiled in this report are
- ABB Ltd.
- E2S Warning Signals
- Eaton Corporation PLC (Cooper Industries)
- Emerson Electric Co.
- Federal Signal Corporation
- Honeywell International, Inc.
- NHP Electrical Engineering Products Pty Ltd.
- Patlite Corporation
- Potter Electric Signal Company, LLC
- R. Stahl AG
- Rockwell Automation, Inc.
- Siemens AG
- Tomar Electronics, Inc.
- Werma Signaltechnik GmbH
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Signaling Devices Market, By Product
8 Signaling Devices Market, By Connectivity Service
9 Signaling Devices Market, By Industry
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/9zqqm3/signaling_devices
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