According to the Market Research Report “Signaling Devices Market Report: By Type (Visual, Audible, Control and Others), By Application (Hazardous Area Signaling, Fire and Industrial Signaling and Wide Area Signaling), By End-User (Marine, Mining Factories, Commercial and Others) and By Geography – Forecast (2015-2020)”, published by IndustryARC, the Global Signaling Devices Market to reach $2.13 billion by 2020.
Browse 35 Market Tables, 90 figures spread through 200 Pages and an in-depth TOC on “Signaling Devices Market”
A signaling device is an electronic device that is capable of detecting flaws in the system and sending warning sign to mitigate the chances of accident. These devices are utilized in numerous applications and have found growing adoption in recent years. Signaling devices are an important aspect of any safety management system such as Dam Safety System, Earthquake Warning System, Fire alarm system and Defense warning systems and others. They have an important role of highlight the target about the change in parameters.
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According a recent study by IndustryARC the global market value for signaling devices is estimated to reach $2.13 billion by 2020. The oil & gas and chemical and petrochemical segment will account for nearly 34% of the revenue in 2020. According to the type of signaling devices the visual signaling devices will capture the maximum share of the market; beacons will dominate the market share by capturing nearly 28% of the total market in 2020. The growing number of oil refineries will consistently keep the demand of signaling devices high. Also the flourishing E-commerce segment will require more warehouses which in turn will increase the demand for signaling devices.
The APAC region was the market leader in 2014 with nearly $188.7 million and is estimated to grow at a CAGR of 3.13% through 2015 to 2020. However the American region will have the highest growth rate of 3.48% in the forecast period. APAC will continue to be the market leader in 2020 also.
The Major Players in this Market Include
- Patlite Corporation
- NHP Electrical Engineering Products
- General Electric
- Rockwell Automation
- R. STAHL Inc.
Multiple industries such as manufacturing, warehouse, marine and mining use machinery which are risky to operate and can be hazardous if not handled properly. The safety of machine operator has always been the priority in every industry. This demand for safety has led to development of a portfolio of products known as signaling devices. These signaling devices are capable of sensing faults and sending warning signals to avoid or minimize the chance of accidents. Signaling devices have proven to be effective in mitigating the anticipated accidents and early detection of glitches assist in smooth running of the production processes.
Signaling device manufacturers have utilized product launches and product developments to expand entry into interconnected markets and enhance core competencies through additions to product portfolio as well as improving the existing product line.
The Global Signaling Device Market provides detailed analysis of the different type of equipment based on type, application and end user vertical.
The Signaling Devices Market study across various industries is incorporated in the Report
- Warehouse & Factories
- Food and Beverage
- Chemical & Petrochemical
- Oil & Gas
- Paper & Pulp
- Medical Devices
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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