Industrial Annunciators Market Analysis

Annunciators are an arrangement of circuits and indicator lights that are designed to alert a human by sounding audible alarms or buzzers and blinking signalling lights when a process deviates from its normal state. Annunciators in industrial uses are used to monitor and process the operating conditions of manufacturing machines and other equipment. They work with sensors throughout the manufacturing process to alert workers or operators of any abnormalities during a process in order to stop or fix the operation.  

Global Industrial Annunciators market has shown tremendous recovery to overcome the impact of negative growth in manufacturing sector in 2020. In the year 2021, the demand for Industrial Annunciators reported growth of over 15%. While, CAGR between 2022 and 2028 will be around 2.87%. The global Industrial Annunciators industry generated revenue of around USD 501.64 million in 2021 and likely to reach over USD 624.37 million in 2028. Although, Industrial Annunciators market is expected to exhibit sluggish CAGR, the cumulative growth opportunity presented by the global Industrial Annunciators market during the forecast period will be whopping USD 4 billion.

Interesting Facts about Industrial Annunciators Industry

• Europe, Middle East and Africa Collectively held over 45% share of the Global Industrial Annunciators in 2021
• Industrial Annunciators are facing stiff competition from SCADA
• S. is the single largest for Industrial Annunciators
• Industrial Annunciators were reached to the stage of obsolescence during 1990’s. However, over the past few years, the demand for Industrial Annunciators is experiencing resurgence
• Overall factory automation industry has been reached to over USD 190 billion

Impact of Covid-19 on this Industry

The impact of Covid-19 was felt greatly in the industrial annunciators market. Prolonged lockdowns and various other government regulations saw the closure or temporary shutting down of many manufacturing plants globally, which hampered the growth of this market significantly over the last year. Covid-19 also negatively affected the global sales of machinery and equipment throughout the past year, which also had a big impact on this industry. Conventional annunciator and Dedicated annunciator are two key product types of Industrial Annunciators. Conventional Industrial Annunciators accounted for the largest share of the global Industrial Annunciators  market with over 60% share in 2021.

Ever Increasing Requirements of Functional and Effective Safety Assessment Systems

The most significant factor that is fueling this market further is the increasing requirements of functional and effective safety assessment systems. As manufacturing plants and factories keep getting more complex and interconnected, the need for better alarm systems and indicators keeps growing. Industries and manufacturers are working hard to streamline their manufacturing processes to make them safer and more efficient, which will greatly augment the need for annunciators in different operating processes. Vertical Carousel and Horizontal Carousel are two major product types of Industrial Annunciators.

Growing Industrial Automation

Another driving force behind this industry is the increasing automation in industries and manufacturers globally. As manufacturers are trying to increase their focus on efficiency, safety, quality, and productivity rates, their processes keep getting more complex and autonomous. To continue this automation of different processes, annunciators will be required to provide alarm and safety systems in many industries. Process industry and Discrete industry are two major end-user industries for Industrial Annunciators. Process Industry held over 65% share in 2021.

Noise-isolating Annunciators to Offer Future Growth Opportunities

The introduction of noiseless industrial annunciators has created a new business potential in the annunciator sector. There is a growing demand for noise-isolating annunciators, which will serve as a driving force in the growth of the industrial annunciators market over the next few years.

Big market players are starting to offer annunciators with additional features, such as remote annunciators for places where the fire alarm control panel might be at a distance. There was also an emergence of wireless industrial annunciators, which is still an untapped market that could be a great opportunity for a key market player.

Severe Threat Posed by SCADA

The use of SCADA or Supervisory Control and Data Acquisition as an alternative to industrial annunciators will be a major restraining factor to the industrial annunciator market over the forecasted period of time. Manufacturers might prefer a SCADA-based alarm system over conventional annunciators due to the lower costs associated with it. Due to the lower costs, manufacturers may be able to fit in a higher number of alarm systems in a plant than if they fitted in annunciators.    

Century Control Systems, Inc., OMRON Corporation, Patlite (USA) Corporation, Omniflex, Eaton Corporation, Hirsch Electronics Corp., Pem-Tech, Inc., Schweitzer Engineering Laboratories, Inc., Apex Automation Solutions, Honeywell International (Fire-Lite), ABB, AMETEK, Inc., Automation Displays, Inc., Linde North America, Inc., Notifier and OMEGA Engineering, Inc. are some of the key players in global Industrial Annunciators market.