A recent report published by Infinium Global Research on signaling devices market provides in-depth analysis of segments and sub-segments in global as well as regional signaling devices market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional signaling devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global signaling devices market. According to the report the global signaling devices market is projected to grow at a significant CAGR over the forecast period of 2018-2024.
Signaling devices is a device that raises an alarm in the form of sound or visual alarm that is totally depending upon the trigger given from the control panel. These devices comprise a variety of different styles, shapes, and colors and are used for various purposes. Usually signaling consist of lights combined with a variety of sound producing product. Signal lights are used to signal the status of conveyors, machinery and automated lines using different colors to show the status of the products from a large distance. Signaling products are specifically designed for use in areas where harsh environmental conditions prevail and where there is a risk of explosion due to the presence of flammable atmospheres. Signaling devices are widely used in different industries such as chemical and pharmaceutical, oil and gas, food and beverages, mining, and in several other industries.
Signaling devices are used in safety and security management system to avoid, damage of property as well as life. In addition, these signaling devices are developed to reduce the loss during natural disasters such as hurricanes and earthquake. Rising demand for signaling devices in oil and gas industries is a major factor driving Signaling Devices Market. In addition, the other factor responsible for the driving the growth is rising demand for an LED lighting solution, growing demand for Strobe beacon as an attention-getting device and warn of a possible hazard and Strict rules set by the government regarding the industrial safety work across the globe. Moreover, these devices are easy to maintain and allow the user to add elements according to their need. However, the lack of awareness regarding the industrial work safety in many developing and the underdeveloped region is anticipated to hamper the growth of the signaling devices market.
Among the geographies, North America dominates the signaling device market in terms of revenue followed by Europe. Stringent rules concerning industrial work safety across every industry are the primary reason for driving the growth of the market in the U.S. region. Europe is witnessing to the high growth rate in the signaling device market owing to the largest number of the product provider. In the Asia Pacific region, rapid growing industrialization and urbanization in countries such as India, China, and Malaysia requires the signaling system for their safety purpose.
The report on global signaling devices market covers segments such as type, end-user, connectivity service, and application. On the basis of type, the global signaling devices market is categorized into visual, audible and others. On the basis of end-user the global signaling devices market is categorized into oil and gas platforms, mining, marine, commercial buildings and natural hazard emergency and warning systems. On the basis of connectivity service the global signaling devices market is categorized into wired and wireless. On the basis of application the global signaling devices market is categorized into hazardous area signaling, fire and industrial signaling, wide area signaling and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global signaling devices market such as Robert Bosch GmbH, Rockwell Automation Inc., Thakral Services (India) Ltd., Auer Signal GmbH, Schneider Electric, Siemens AG, Eaton, Thales Group, Omron Corporation, Thomas & Betts Corporation, and Koninklijke Philips Electronics N.V.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global signaling devices market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of signaling devices market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the signaling devices market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the signaling devices market to understand the present and future trends in this market and formulate their strategies accordingly.
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