A signaling device is an electrical contraption whose primary objective is to detect flaws or anomalies within safety monitoring and detection systems. Some examples are the audible signaling devices and the industrial audible alarms which signal a problem and make employees aware of it.
Large-scale industrial demand for audible signaling devices has driven the Signaling Devices Market growth over the last few years as employee safety regulations have been tightened. There is a tremendous scope for growth during the forecast period of 2017-2022.
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Scope & Regional Forecast of the Signaling Devices Market
The Signaling Devices Market has witnessed the demand for beacons rise sharply in recent times. Beacons, wireless smoke detectors and fire alarm panels are major industrial safeguards for any manufacturing hub to contain. End users are also less hesitant now to integrate smoke and carbon monoxide alarm systems and smoke detectors into their universal security instruments.
The Signaling Devices Market expects the oil & gas, chemical and petrochemical segments to generate nearly 34% of the entire revenue by 2022. Visual signaling devices are expected to hold a majority in the market whereas beacons are all set to capture nearly a third of the entire market by 2022.
Although climate change fears are set to slow oil refinery installations, the rapid growth of E-commerce in massive markets like India is expected to drive future growth. E-commerce depends on warehouses being setup aggressively at strategic locations so as to reduce the time necessary to make a delivery. The responsibility falls on the Signaling Devices Market to equip these warehouses with the appropriate industrial audible alarms and other audible signaling devices with the objective of keeping goods safe.
The Signaling Devices Market expects the Asia-Pacific segment to exhibit a CAGR of 3.13% during the period of 2017-2022 whereas the Americas segment is set to show the highest growth rate of 3.48% during the same period. Despite this rate, Asia-Pacific is set to consolidate its market leader status by 2022.
Segmentations & Key Players Involved in the Signaling Devices Market
According to IndustryARC findings, the Signaling Devices Market can be broken down into various segmentations on the basis of –
-Type: Visual Signaling Devices (Beacons, Stack Light), Audible Signaling Devices (Electronic Sounders, Buzzers/Hooters/Bells), Control Devices (Fire Alarms, Others) and Others (push buttons, stop switches, pilot lights, sirens).
-Application: Hazardous Area Sighting, Fire & Industrial Signaling and Wide Area Sighting.
-End-Use Verticals: Warehouse & Factories (Automotive, Food & Beverage, Chemical & Petrochemical, Aerospace, Defense, Oil & Gas, Paper & Pulp, Medical Devices, Pharmaceutical and Others), Marine, Mining, Commercial and Others.
-Geographical Location: Americas, Europe, Asia-Pacific and RoW (Rest of the World).
Some of the key players involved in the Signaling Devices Market according to IndustryARC are as follows:
-Honeywell International Inc.
-Eaton Corporation, Plc
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