Sarasota, FL, Feb. 23, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled "Signaling Devices (Audible & Visual) Market by Product (Strobe Beacons, Lighting, Bells and Horns, Fire Alarms/Call Points, Speakers and Tone Generators, Visual and Audible Combination Units, Video Surveillance Systems, and Intercoms), by Connectivity Service (Wired and Wireless) for Oil and Gas, Chemical and Pharmaceutical, Food and Beverages, Energy and Power, Mining and Other Application: Global Industry Perspective, Comprehensive and Forecast, 2016 – 2022". According to the report, global signaling devices market was valued at approximately USD 1.55 billion in 2016 is expected to reach USD 2.01 billion in 2022 and is anticipated to grow at a CAGR of around 4.42% between 2017 and 2022.
The signaling device is a comprehensive range of signaling products designed for use in areas where the prevalence of harsh environmental conditions and where there is a risk of explosion due to the presence of flammable atmospheres. Signaling devices can be in the form of the audio or visual type depending on the signaling devices. Bell, buzzer, device, foghorn, whistle are some signaling devices used in day to day life.
Browse through 42 Market Tables and 42 Figures spread through 110 Pages and in-depth TOC on "Global Signaling Devices Market: By Product, Services, Application, Type, Size, Share, Analysis, Segment and Forecast 2016 – 2022".
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Strobe beacons, lighting, bells and horns, fire alarms/call points, speakers and tone generators, visual and audible combination units, video surveillance systems, and intercoms are product segments of the global signaling devices market. Among these products, strobe beacons segment has dominated the signaling devices market in 2016 due to the increasing demand of ambulance and automotive industry. Strobe beacons also used in hospitals, hotels to give the signal in both audio and visual form.
The wireless connectivity segment is projected to dominate the global signaling devices market. It accounted for the majority share of the entire revenue generated in 2016 and also expected to grow substantially in near future.
Browse the full "Signaling Devices (Audible & Visual) Market by Product (Strobe Beacons, Lighting, Bells and Horns, Fire Alarms/Call Points, Speakers and Tone Generators, Visual and Audible Combination Units, Video Surveillance Systems, and Intercoms), by Connectivity Service (Wired and Wireless) for Oil and Gas, Chemical and Pharmaceutical, Food and Beverages, Energy and Power, Mining and Other Application: Global Industry Perspective, Comprehensive and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/signaling-devices-market
Based on applications, oil and gas dominated the global signaling devices market. It accounted for the highest share of the total market in 2016 and expected to grow at highest CAGR in coming years. Due to the increasing applications of signaling devices in the exploration and extraction of shale gas and oil, this application segment is anticipated to maintain its foremost position till 2022.
Signaling devices helps to increase the safety measures of any industry and reduces the probability of accidents. Growing manufacturing industry globally and technological advancement in every sector is expected to exhibit significant growth in the years to come. Furthermore, initiatives taken by the government and rapidly growing urbanization in developing countries are expected to show strong growth in the near future. Other applications like chemical and pharmaceutical, food and beverages, energy and power are also expected to witness significant growth over the forecast period.
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North America contributed largest share global signaling devices market in 2016. The usage of signaling devices has been increasing since last few years and is expected to grow more in the years to come owing to increasing security concern in developed as well as developing countries. Growing medical incidences in the region increase the demand for ambulance service which simultaneously increases the signaling devices market. The technological development and its adoption rate are highest in North America due to which this region is expected to dominate the signaling devices market in the forecast period.
By revenue, Europe was the second largest regional market for signaling devices in 2016. Europe will closely follow the North America in coming years. Europe is the world's second major producer of petroleum products. It has an oil refining capacity of 16% of the world total. DONG Energy, Petrol AD, OMV, Petrol Group is some of the leading oil exploration and production companies in Europe. This creates the huge demand for signaling devices in oil and gas sector in Europe.
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Asia Pacific is expected to be the fastest growing regional segment for the signaling devices market within the forecast period due to the rapid rate of industrialization and growing infrastructural support. Growing manufacturing industry in China and India is likely to trigger the demand for signaling devices within the forecast period. Latin America and the Middle East & Africa are also predicted to show significant growth within the forecast period. In addition, energy and power generation plants in the Middle East and Africa are growing account of rising urbanization.
Some of the key players in the global signaling devices market include Siemens AG, Honeywell International, Inc., ABB Ltd., Rockwell Automation, Inc., Eaton Corporation PLC (Cooper Industries), Emerson Electric Co., Patlite Corporation, R. Stahl AG, E2S Warning Signals, NHP Electrical Engineering Products Pty Ltd., Federal Signal Corporation and Tomar Electronics, Inc.
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This report segments the global signaling devices market as follows:
Global Signaling Devices Market: Product Analysis
- Strobe Beacons
- Lighting
- Bells and Horns
- Fire Alarms/Call Points
- Speakers and Tone Generators
- Visual and Audible Combination Units
- Video Surveillance Systems
- Intercoms
Global Signaling Devices Market: Connectivity Service Analysis
- Wired
- Wireless
Global Signaling Devices Market: Application Analysis
- Oil and Gas
- Chemical and Pharmaceutical
- Food and Beverages
- Energy and Power
- Mining
- Others (Pulp and Paper, Water and Wastewater Treatment, and Transportation)
Global Signaling Devices Market: Regional Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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