Global Industrial Annunciators Market was valued $452.3Mn in 2020 and is expected to r each $550.3 Mn by 2026, at a CAGR of 3.0%.
Global Industrial Annunciators Market Introduction Annunciators are generally stand-alone systems that collect, condition and aggregate data fr om all over the plant. This data is then combined logically to indicate off-normal conditions a nd alert the operators, visually and audibly, that remedial actions may be required to return t he plant to its normal operating state. Replacing these obsolete devices with modern state-o f-the-art collection, conditioning and display devices need not be a complex or risky endeavo ur.
Global Industrial Annunciators Market Dynamics The demand for annunciators is also witnessing growth in an upward trajectory due to the gr owing need for functional safety assessment. The increasing plant complexity due to the inc rease in the number of connected processes and equipment is augmenting the need for alar m handling for the incorporation of annunciators. The need for annunciators has increased d ue to the regulatory compliances that direct plants to employ functional safety in their proces ses. The need for safety has increased for allowing an effective interface between man and mac hine due to the growing application of automation in plants. The complexity of the system an d 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. The rise in number of industries focusing on adopting automated solutions with an objective to boost productivity and increase profit.The existence of a large number of well-established players and emerging players in the market, coupled with a rise in demand from process ind ustries as well as discrete industries, is showcasing an upward growth trend in the industrial annunciator market.
Global Industrial Annunciators Market Segment Analysis Based on type, the industrial annunciatorsmarketis segmented into conventional annunciat or and dedicated annunciator. The conventional annunciatorsegment held the largest share of the annunciators market in 2019. The modern annunciators are equipped with advanced e lectronics that enhance the capability to withstand loud noise, which ultimately reduces the r isk of false alarm. These benefits are attracting a significant number of industrial customers, which are propelli ng the growth of the conventional annunciators market.Dedicated Annunciator Panels provid e unambiguous signalling of alarm conditions with higher visibility angles than typical LCD/L