Industrial Annunciators Market by Type (Conventional annunciator, Dedicated annunciator) by Product (Vertical Carousel, Horizontal Carousel) by End-user (Process industry, Discrete industry): Global Industry Size, Share, Statistics and Forecast 2016 - 2028
Annunciators are an arrangement of circuits and indicator lights that are designed to alert a human by sounding audible alarms or buzzers and blinking signaling lights when a process deviates from its normal state. Annunciators in industrial uses are used to monitor and process manufacturing machines and other equipment operating conditions. They work with sensors throughout the manufacturing process to alert workers or operators of any abnormalities during a procedure to stop or fix the operation.
The global Industrial Annunciators market has shown remarkable recovery to overcome the impact of negative growth in the manufacturing sector in 2020. In 2021, the demand for Industrial Annunciators was 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 is likely to reach over USD 624.37 million in 2028. Although the 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 a whopping USD 4 billion.
Interesting Facts about Industrial Annunciators Industry
Europe, the 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 reached the stage of obsolescence during the 1990s. However, over the past few years, the demand for Industrial Annunciators is experiencing a resurgence.
The overall factory automation industry has reached over USD 190 billion.
Impact of Covid-19 on this Industry
The impact of Covid-19 was significantly felt in the industrial annunciators market. Prolonged lockdowns and various other government regulations saw the closure or temporary shutting down of many manufacturing plants globally, hampered this market's growth significantly over the last year. Covid-19 also negatively affected the global sales of machinery and equipment throughout the past year, which also greatly impacted this industry. Conventional annunciators and Dedicated annunciators 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% in 2021.
Ever Increasing Requirements of Functional and Effective Safety Assessment Systems
The most significant factor fueling this market further is the increasing requirements for functional and practical 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 significantly 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 try 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 methods, annunciators must 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.
Prominent market players are starting to offer additional features, such as remote annunciators for places where the fire alarm control panel might be at a distance. Wireless industrial annunciators emerged, which is still an untapped market that could be an excellent 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. Manufacturers might prefer a SCADA-based alarm system over conventional annunciators due to its lower costs. Due to the lower prices, manufacturers may be able to fit a higher number of alarm systems in a plant than if they did 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.
Frequently asked questions about global Industrial Annunciators Industry
Likewise other industries, COVID 19 also taken a toll on Industrial Annunciators market with around 10.91% decline in its revenue in 2020 as compare to 2019
Europe is the largest regional market with highest share in the total volume of Industrial Annunciators consumed in 2021 followed by Europe
Increasing demand for efficient safety systems in manufacturing sectors coupled with growing automation across all verticals
Process Industry dominated the Industrial Annunciators market in 2021 with over 65% share
Conventional Industrial Annunciators segment was the largest type of Industrial Annunciators in 2021 with over 55% share
North America (U.S., Canada and Mexico), Europe (Russia, Spain, Italy, Germany, France, UK, Poland, Belgium, Netherland, Sweden, Denmark, Austria, etc.), Asia Pacific (India, South Korea, China, Japan, Taiwan, Singapore, Vietnam, Thailand, Indonesia, Malaysia, Australia, etc.), Latin America (Peru, Chile, Colombia, Brazil, Argentina, etc.), Middle East (KSA, UAE, Israel, etc.) & Africa (Egypt, Nigeria, South Africa, East African Community, etc.)
Major Players Analysed
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.
