A device that raises an alarm to give warning against any potential danger is called signaling device. Depending upon the requirement, application, and surrounding of the place; the alarm can be visual or audible. Signaling devices are normally connected with the control panel of the system and installed at specific positions. They are installed in such a way that the people present in an area are made aware of the undesirable situation or event so that they can take corrective, precautionary measures.
Several hazards are present in surroundings— whether it is home, office, factory, hospital, roads, schools and colleges, airports and train stations, or heavy industries. Any type of hazard can turn into a potentially dangerous event and can cause damage to property as well as life. As far as safety and security management systems are concerned, signaling devices play a crucial role. Signaling devices are manufactured for continuous observation of changes in the surrounding parameters and for raising an alarm if any undesirable change is observed. Most common types of signaling devices are used in fire alarm systems, mining safety systems, gas warning systems in the oil & gas industry, heavy rainfall warning systems, and earthquake warning systems. Signaling devices can be explosion-proof, fire-proof, or water-proof depending upon their end-user application.
The signaling devices market can be segmented on the basis of type and application. Types of signaling devices are visual signaling devices, audible signaling devices, and other control signaling devices. Beacons and stack light are sub-segments of the visual signaling devices segment, whereas bells, hooters, and electronic beeper or buzzer are sub-segments of the audible signaling devices segment. Pilot or navigation lights, stop switches, and push buttons are examples of control signaling devices. By application, the market for signaling devices can be divided into hazardous area signaling, fire & industrial signaling, and wide area signaling. Based on end-user application, the market for signaling devices can be segregated into warehouses & factories, oil and gas platforms, mining, marine, commercial buildings, sports, and natural hazard emergency and warning systems.
Strict safety rules and regulations regarding industrial work safety enforced by governments across the world is the key driving factor for the signaling devices market. Technological developments, smart city concept, and urbanization are other factors fueling the market. However, lack of awareness about the industrial work safety and negligence about installation of warning systems can be restraints for the signaling devices market. Cost could be one of the restraints, especially for new or small-scale industrial setups where safety standards are being neglected.
Regional market for signaling device will show higher growth, however it is largely controlled by the end use of the signaling device. Countries such as Japan where tsunamis and earthquakes are frequent witness higher demand for natural hazard warning or signaling systems. Developing economies in Asia Pacific such as China, India, Indonesia, and Malaysia, where industrialization is fast–paced, also require industrial signaling systems. Developed countries such as the U.S. and the U.K. require technologically advanced signaling systems to achieve high safety standards.
Some of the key and potential players in the signaling devices market are Auer Signal GmbH, Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, Eaton, Thakral Services (India) Ltd., Omron Corporation, Schneider Electric, Thomas & Betts Corporation, Thales Group, PATLITE Corporation, Potter Electric Signal Company LLC, Honeywell International Inc., HollySys Automation Technologies Ltd., Koninklijke Philips Electronics N.V., and NHP Electrical Engineering Products.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.
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.
2. Insights and Tools
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.
3. Actionable Results
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?