Signaling Devices Market (Audible & Visual) for Hazardous and Safe Areas, by Product (Strobe Beacons, Lighting and Fire Alarms/Call Points), Connectivity Service (Wired & Wireless), Industry, & Geography - Global Forecast to 2022
“Increased usage of strobe beacons across diverse explosion-prone industries is fueling the growth of the signaling devices market (audible & visual)”
The global 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, growing at a CAGR of 4.43% between 2016 and 2022. Strobe beacons have been a major market for signaling devices. With the increased demand for these products in various industrial applications, more advancements are taking place and the end users are focusing more on integrating signaling devices as an effective emergency management systems in their industry premises. Strobe beacons are greatly influenced by the signaling devices market (audible & visual) which are most widely used products by almost every industry in the modern era and are posing opportunities for the industry players to invest in these signaling device products.
“The signaling devices market for the oil and gas industry applications is expected to grow at a high rate during the forecast period”
The signaling devices market (audible & visual) for the oil and gas industry held the largest market size in 2015 and is expected to grow at the highest CAGR between 2016 and 2022. Fueled by the growing application of these signaling devices such as strobe beacons, lighting products, speakers, video surveillance systems, and so on in the exploration and extraction of shale gas and oil; this industry segment is likely to retain its leading position till 2022.
“RoW and North America are the major markets for signaling devices”
The RoW region consists of the Middle East, Africa, and Latin America is expected to hold the largest share and growth rate of the signaling devices market (audible & visual) during the forecast period. The Middle East and Africa are the major countries driving the growth of the signaling devices market (audible & visual) in RoW. A significant number of prominent oil and gas and mining industries which are highly prone to explosive environments are based out of North America and APAC. This is one of the major factors driving the growth of the signaling devices market (audible & visual) in RoW. On the other hand, North America followed the RoW market in 2015, owing to major signaling device manufacturing companies based out here, this region is expected to grow further in the coming years of the signaling devices market (audible & visual).
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the signaling devices industry. The break-up of primary participants for the report has been shown below:
By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
By Region: North America – 45%, Europe – 20%, APAC – 30%, and RoW – 5%
The report also profiles the key players in the signaling devices market (audible & visual) and analyzes their market ranking. The prominent players profiled in this report are Honeywell International, Inc. (U.S.), PATLITE Corporation (U.S.), Eaton Corporation Plc (U.S.), Siemens AG (Germany), Emerson Electric Co. (U.S.), NHP Electric Engineering Products (Australia), Rockwell Automation (U.S.), E2S Warning Signals (U.S.), ABB Ltd. (Switzerland), and R.STAHL AG (Germany), among others.
This research report categorizes the global signaling devices market (audible & visual) on the basis of product, connectivity service, industry, and geography. The report also provides the Porter’s five forces analysis, along with a description of each of its forces and their respective impact on the signaling devices market (audible & visual); description of major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons to Buy the Report:
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the signaling devices market (audible & visual) comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product launches and developments, partnerships, and mergers and acquisitions.