Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Sep 8, 2020 4:43 AM ET

Industrial Annunciator Market Highlights, Expert Reviews 2020 to 2027




iCrowd Newswire - Sep 8, 2020

Rising Adoption of Automation in the Industrial Sector to lead industrial annunciator market growth at 3.9% CAGR during 2019-2027

According to our latest market study on “Global Industrial Annunciator Market to 2027 – Analysis and Forecast by Type (Conventional Annunciators, and Dedicated Annunciators); End-user (Process Industry, and Discrete Industry); and Geography,” the 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.

The report highlights key factors driving the market growth, and prominent players and their developments in the market.

Get a Sample PDF of this Report @ https://www.theinsightpartners.com/sample/TIPRE00010543/

Industrial annunciators are an essential tool in safety management. The requisite for functional safety assessment constantly drives the technical performance of industrial annunciators at attention. Operator participation places a limit on the dependability of safety functions; however, it may be valuable in the management of complex demands. At present, the issue of functional safety in the processing plants is gaining importance worldwide. The adoption of EN61508 standard has presented a comprehensive yet systematic framework that enables plant engineers to implement the functional safety concepts steadily to all existing control equipment. Industrial annunciators are a critical element of safety planning, particularly in processing plants wherein numerous alarm conditions are present. An alarm or amalgamation of multiple alarm conditions requires a response of an operator intending to either inspect the cause of alarms or take measures following the requirements by safety procedures to eradicate the condition.

Annunciators are closely related to safety shutdown systems (SIS), although their function is not similar. Annunciators are vital to preserving the integrity of processing units. These systems alert operators to plant conditions, for instance, divergence from standard operating limits and to irregular events, which need prompt action or evaluation. However, annunciators are not typically related to safety; they play a significant part in supporting operators to moderate the requirement for the safety-related systems, thereby enhancing overall plant safety.

From containment loss at a nuclear site to fuel refinery explosions, such catastrophes are only avoided if operators can promptly recognize and takes steps toward impending danger. Thus, industrial annunciators are being adopted by several plants as an important component of their mission-critical safety systems.

ABB Ltd, AMETEK Inc., Eaton Corporation plc, Ronan Engineering Company, Automation Displays Inc., Dwyer Instruments, Inc., NOTIFIERS, Schweitzer Engineering Laboratories, Inc., Apex Automation Solutions, and Omniflex are some of the well-established players present in the global industrial annunciator market.

COVID-19 Impact on Industrial Annunciators Market

The ongoing global pandemic COVID-19 continues to bring long terms of disruption across several major processes as well as discrete industries. However, among process industries, the impact has been varying across different verticals such as impacting heavily on aviation, oil & gas, and numerous materials sectors attracting heavy reduction in their ongoing production volume. Whereas, selected industries such as food & beverages, pharmaceuticals, power generation, and chemicals have noticed limited disruption during the pandemic across different economies. As a result, the prevalence of nation-wide lockdown to minimize the transmission of COVID-19 has significantly disrupted the supply chain activities along with production volume across several manufacturers, especially the small & medium enterprise owners.  Moreover, the limited production activities along with the disappearing demand for numerous control products and components is expected to contract significantly during 2020 resulting in a stark decline in the market growth during the coming few years.

Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://www.theinsightpartners.com/buy/TIPRE00010543/

The Report Segments the Global Industrial Annunciator Market as Follows:

By Type

By End-User

By Geography

About us: –
Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive, and Defense.



Contact Information:

Call: +1-646-491-9876
Email:
sales@theinsightpartners.com






Keywords:    Industrial Annunciator Market, Industrial Annunciator Market Research, Industrial Annunciator Market Insight, Industrial Annunciator Market Trends, Industrial Annunciator Market Forecast, Industrial Annunciator Market Share

Tags:    iCN Internal Distribution, Research Newswire, English