This report contains 150 pages this report highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability.
Industrial Annunciator Market report is firmly based on primary research, interviews with top executives, news sources and information insiders also Secondary research techniques are implemented for better understanding and clarity for data analysis.
The industrial annunciator market was valued at US$ 1,900.88 million in 2019 and is projected to reach US$ 2,547.73 million by 2027; it is expected to grow at a CAGR of 3.9% from 2019 to 2027.
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There are some very well–established market players operating in the Industrial Annunciator market. The top ten players in this market include ABB Ltd, AMETEK Inc., Eaton Corporation plc., Ronan Engineering Company, Automation Displays Inc., Dwyer Instruments, Inc., NOTIFIER, Schweitzer Engineering Laboratories, Inc., Apex Automation Solutions, Omniflex, etc.
Impact of COVID-19 Pandemic on Industrial Annunciator Market
The ongoing global pandemic COVID-19 continues to bring long term disruption across several major process as well as discrete industries. For instance, automotive, steel production, general manufacturing, electrical & electronics industry and OEMs based market players among numerous others are facing disruptions their supply chain. However, among process industries the impact has been varying across different vertical such as impacting heavily on aviation, oil & gas, and numerous materials sectors attracting heavy reduction in their ongoing production volume. Whereas, industries such as food & beverages, pharmaceuticals, power generation and chemicals have noticed limited disruption during the pandemic across different economies. As a result, prevalence of nation-wide lockdown to minimize the transmission of COVID-19 has significantly disrupted the supply chain activities along with the production volume across several manufacturers especially the small & medium enterprise owners. Moreover, the limited production activities along with disappearing demand for numerous control products and components is expected to contract significantly during the 2020 resulting in stark decline in the market growth during the coming few years.
End User-Based Market Insights
Based on end user, the industrial annunciator market is segmented into process industry and discrete industry. The demand for industrial annunciators is anticipated to surge during the forecast period owing to the noteworthy rise in the number of industrial component manufacturers and assemblers in developing regions, such as Asia Pacific. The awareness related to the benefits of annunciators among the APAC industrial component manufacturers and assemblers is high, which generates substantial demand for this equipment and is foreseen to support the growth of the industrial annunciator market in the coming years.
The global industrial annunciator market is moderately fragmented at a global level comprising prominent well-recognized brands available across developed economies to a notable number of unorganized industrial annunciator market players operating in emerging countries such as Asian and MEA regions. ABB Ltd, AMETEK Inc, Eaton Corporation plc, Ronan Engineering Company, Automation Displays Inc, Dwyer Instruments, Inc, NOTIFIER, Schweitzer Engineering Laboratories, Inc., Apex Automation Solutions, and Omniflex are among the major players in the global industrial annunciator market.
2019: AMETEK France has opened a Technology Solutions Centre as a regional headquarters in Élancourt City in order 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.
2019: Honeywell entered into a definitive agreement to acquire Xtralis, a leading global provider of aspirating smoke detection along with advanced perimeter security technologies and video analytics software.
2018: ABB Ltd. announced an investment of US$ 150 Mn in Shanghai, China. The investment is aimed to build most advanced, automated and flexible robotics factory. This production line will focus on machine learning, digital and collaborative solutions, and the R & D team will focus on AI research.
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