Report : Europe Industrial Annunciator Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Conventional Annunciators and Dedicated Annunciators), End user (Process Industry, and Discrete Industry), and Country
Conventional Annunciator Segment to Dominate Europe Industrial Annunciator Market during 2019–2027
According to The Insight Partners market research study on “EuropeIndustrial Annunciator Marketto 2027 – Regional Analysis and Forecast by Type, End User,”the market is expected to reach US$ 787.25millionby 2027 from US$ 601.51million in 2019. The market is estimated to grow at a CAGR of 3.6% from 2020 to 2027.The report provides trends prevailing in the Europeindustrial annunciator market along with the drivers and restraints pertaining to the market growth. The growth of the Europeindustrial annunciator market is attributed to theadoption of industrial annunciators by several plants as an important component of their mission-critical safety systems. However, benefits of SCADA solutions over annunciator systemmay restrain the growth of the industrial annunciators market.
Based on type, the industrial annunciatorsmarketis segmented into conventional annunciator and dedicated annunciator. The conventional annunciatorsegment held the largest share of the Europeindustrial annunciators market in 2019. The modern annunciators are equipped with advanced electronics that enhance the capability to withstand loud noise, which ultimately reduces the risk of false alarm. These benefits are attracting a significant number of industrial customers, which is propelling the growth of the conventional annunciators market.
ABB Ltd, AMETEK Inc, Eaton Corporation plc, Ronan Engineering Company, Dwyer Instruments, Inc, NOTIFIER, Schweitzer Engineering Laboratories, Inc, Apex Automation Solutions, and Omniflexare among the leading companies in the industrial annunciatorsmarket. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, AMETEK France has opened a Technology Solutions Centre as a regional headquarters in Élancourt City to support the growth of its electromechanical product and electronic instrument businesses in France. Moreover, the center was opened with an aim to serve as a hub of innovation for the European markets.
The Report Segments the EuropeIndustrial Annunciators Market as follows:
Europe Industrial Annunciators Market – ByType
Europe Industrial Annunciators Market – By EndUser
Europe Industrial Annunciators Market – By Country