LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global industrial annunciators market to grow at a CAGR of above 5% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the emergence of noiseless industrial annunciators as one of the key emerging trends in the global industrial annunciators market. Players in the market are increasingly incorporating new features in annunciators for industrial purposes. For example, many players have developed annunciators with high noise immunity. Players are adding remote annunciators in their product portfolio for application in areas where the fire alarm control panel is located at a considerable distance from the concerned operator who needs to check on the status.
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In this report, Technavio analysts highlight the growing need for annunciators in alarm safety systems as a key factor contributing to the growth of the global industrial annunciators market:
Growing need for annunciators in alarm safety systems
The demand for annunciators is also witnessing growth in an upward trajectory due to the growing need for functional safety assessment. The increasing plant complexity due to the increase in the number of connected processes and equipment is augmenting the need for alarm handling for the incorporation of annunciators. The need for annunciators has increased due to the regulatory compliances that direct plants to employ functional safety in their processes.
According to a senior analyst at Technavio for automation, “The need for safety has increased for allowing an effective interface between man and machine due to the growing application of automation in plants. The complexity of the system and its associated process has increased owing to the high focus on quality, efficiency, safety, and productivity. To satisfy this demand, annunciators provide alarm systems in plants.”
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Global industrial annunciators market segmentation
This market research report segments the global industrial annunciators market into the following product types, including conventional annunciators and dedicated annunciator and key regions, including the Americas, APAC, and EMEA.
Conventional annunciators have a common interface for the alarm monitoring of different systems. It can be employed in various industrial processes and are popular among end-users, particularly in industries involving several key parameters to be monitored. Dedicated annunciators are gaining importance among end-users that require annunciators to focus on a single process variable or multiple isolated process variables that are of high importance to the plant safety.
EMEA was the leading region for the global industrial annunciators market in 2017, accounting for a market share of nearly 36%. By 2022, APAC is expected to witness the highest growth.
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