Signaling Devices Market is Anticipated to Record a Cagr of 5% Over the Forecast Period.

The signaling devices are primarily used to raise an alarm including sound or visual alarm. The devices are directly in connection with the control panel. These devices are used for the detection of the errors and are also used for sending the signal so that chances of accident can be reduced. Signaling devices are used for the safety management such as fire alarm system, earthquake warning system, defense warning system and dam safety system. These devices are used in the various locations and are also used to signal the status of the machinery and conveyor.

Market Size and Forecast

The growth in the Signaling devices market can be attributed to the growing urbanization across the various developing countries coupled with the increasing demand from various end-user industries. This is expected to be the major reason for the growth of overall signaling devices market during the forecast period. Additionally, the increasing safety concern is expected to boost the market growth of the signaling devices during the forecast period.

Signaling devices market is anticipated to record a CAGR of 5% over the forecast period. The market is expected to attain a total market size of USD 3 billion by 2027. The signaling devices market is expected to showcase a vibrant growth by the end of the forecast period. The market can be segmented on the basis of type, connectivity, application and end-use. On the basis of type, it is sub-segmented into visual signaling devices, audible signaling devices and control devices. On the basis of connectivity, it is sub-segmented into wired connectivity service and wireless connectivity service. Wireless connectivity services is expected to be the leading sub-segment during the forecast period. The high application of wireless connectivity in various signaling devices is expected to be the major reason for the growth of the sub-segment during the forecast period. On the basis of application, it is sub-segmented into hazardous area signaling, fire and industrial signaling, wide area signaling and others. On the basis of end-use, it is sub-segmented into food and beverage, automotive, aerospace, oil & gas, chemical & petrochemical, pharmaceutical, defense, medical devices, paper & pulp. Automotive is expected to be the leading sub-segment during the forecast period. The increasing number of accidents coupled with the growing safety concern is expected to be the major reason for the expansion of the sub-segment.

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signaling devices market

Growth Drivers

Growing Security concern

The increasing safety and security concern is expected to be the major driver for signaling devices market during the forecast period. For instance according to OECD, the total fatal injuries in India was 1, 46,133 in 2015 which increased to 1, 50, 785 in 2016. Additionally, the increasing cases of the natural disasters across the globe coupled with the rising security concern is expected to be a major driver for the overall signaling devices market during the forecast period.

Rising government initiative regarding safety

The increasing government concern regarding the safety and security of workers is expected to be the major driver for the overall signaling devices market during the forecast period.

Restraints

High installation cost

The high installation cost associated with the signaling devices coupled with the less availability of the skilled labors is expected to restrict the growth of the signaling devices market during the forecast period.

Market Segmentation

Our-in depth analysis of the global signaling devices market includes the following segments:

By Type:

Visual Signaling Devices
Audible Signaling Devices
Control Devices
By Connectivity:

Wired Connectivity Service
Wireless Connectivity Service
By Application:

Hazardous Area Signaling
Fire and Industrial Signaling
Wide Area Signaling
Others
By End-Use:

Food and Beverage
Automotive
Aerospace
Oil & Gas
Chemical & Petrochemical
Pharmaceutical
Defense
Medical Devices
Paper & Pulp
By Region

On the basis of regional analysis, global signaling devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is expected to be the largest region for the signaling devices market. The growth can be attributed to the rising number of manufacturing plants in the region which indirectly increases the demand for the signaling systems. Asia-Pacific region is expected to be the fastest developing region. The growing end-use industries in the region coupled with the increasing security concern is expected to be the major reason for the growth of the overall market in the region.

Global signaling devices market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Key Players

Emerson Electric Co.
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
Siemens AG
Rockwell Automation
ABB Ltd.
Honeywell International Inc.
Cooper Industries
WERMA Signaltechnik GmbH
Thales Group
NHP Electrical Engineering Products
L3 communications Holdings, Inc.
R.STAHL Inc.
Thomas & Betts
Auer Signalgerate
E2S Warning Signals
Patlite Corporation
Hollysys Automation Technologies Ltd.

Customization of the Report

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