Industrial Annunciators Market Introduction
- An industrial annunciator is a process monitoring system which consists of different indicators indicating various phases of a process.
- Industrial annunciators generate a warning alarm light or sound if the procedure deviates from its set configuration.
Industrial Annunciators Market Dynamics
- Growing need for annunciators in alarm safety systems is considered a key factor promoting the demand for industrial annunciators and thereby encouraging the growth of the market in coming years.
- Increasing adoption of automation in the industrial sector has augmented the demand to incorporate safety alarm systems which is an effective interface between man and machine in industrial processes.
- Moreover, in the last few years, implementation of annunciators in complex industrial plants has increased significantly due to increasing number of connected equipment and processes in the industrial sector.
- This is expected to drive the demand for remote annunciators and alarm annunciator panels, thereby encouraging the growth of the industrial annunciators market.
- Apart from this, increasing demand for noiseless industrial annunciators is expected to be an emerging trend gaining traction in the industrial annunciators market in the upcoming years.
- Leading vendors are offering varied products with added features such as remote annunciators which can work efficiently in areas where fire alarm control panels are situated at a distance.
- These technical innovations by industrial annunciator manufacturers is projected to have a significant impact on the demand for annunciators’ panel, thus promoting the growth of the industrial annunciators market.
- However, availability of alternatives is expected to hinder the adoption rate of industrial annunciators, thereby hindering the growth of the industrial annunciators market.
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Industrial Annunciators Market: Segmentation Analysis
- Based on type, the industrial annunciators market can be segmented into conventional annunciators and dedicated annunciators.
- Conventional annunciators accounted for major share of the market in 2018. These annunciators are very popular among end-users as they can be employed in different industrial processes where several key parameters need to be monitored.
- This segment is expected to see increased market share and thereby maintain its leading position in the industrial annunciators market over the forecast period.
- Dedicated annunciators are expected to witness highest adoption rate among users and hence this segment is projected to expand rapidly over the forecast period.
- By product, the industrial annunciators market can be bifurcated into vertical carousel and horizontal carousel.
- Based on end-user, the industrial annunciators market can be categorized into process industry and discrete industry.
Europe to Lead the Global Market for Industrial Annunciators
- In terms of region, the global industrial annunciators market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- Europe is likely to dominate the global industrial annunciators market from 2019 to 2027
- The market in Asia Pacific is anticipated to expand significantly in the near future. Emerging economies such as China and India are expected to contribute significantly to the expansion of the industrial annunciators market due to the rapid expansion of the industrial sector coupled with growing adoption of process automation in industrial plants. This is expected to be a major factor that drives the demand for industrial annunciators, thereby boosting the industrial annunciators market in the region
Key Manufacturers Operating in the Market
The global industrial annunciators market was highly fragmented in 2018, with the presence of many established players who occupy prominent market share. These vendors focus on innovations, product development, and adopt advanced technologies to produce innovative products to meet the changing needs of end-users and thus create a competitive environment in the industrial annunciators market. Key manufacturers operating in the global market are:
- AMETEK, Inc.
- Automation Displays, Inc.
- Century Control Systems, Inc.
- Eaton Corporation
- Hirsch Electronics Corp.
- Honeywell International (Fire-Lite)
- Linde North America, Inc.
- OMEGA Engineering, Inc.
- OMRON Corporation
- Patlite (USA) Corporation
- Pem-Tech, Inc.
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Global Industrial Annunciators Market: Research Scope
Industrial Annunciators Market, by Type
- Conventional Annunciators
- Dedicated Annunciators
Industrial Annunciators Market, by Product
- Vertical Carousel
- Horizontal Carousel
Industrial Annunciators Market, by End-user
- Process Industry
- Discrete Industry
Global Industrial Annunciators Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.