Market Introduction
The manufacturing and production facilities have witnessed a significant surge in the penetration of sophisticated industrial equipment and machinery that require continuous monitoring for their seamless functioning to avoid catastrophic failures. Similarly, high valued assets such as aircraft, marine vessels, aerospace & defense vehicles, owing to their significant investment, require robust as well as efficient alert and centralized solution for providing the information of process controls in real-time. Industrial annunciator is a specially designed solution that facilitates aid in seamless continuous monitoring and supervision of a broad range of industrial processes, equipment, assets, and operational activities across process and discrete industries. The rise in demand for seamless monitoring and controlling critical industrial assets, equipment, and machinery across different industry verticals, especially discrete industries, has been powering the growth of the market in the past few years.
Market Overview and Dynamics
The North Americaindustrial annunciator market is expected to reach US$490.18millionby 2027 from US$396.52million in 2019, at a CAGR of 2.8% from 2020 to 2027. The increasing adoption of industrial annunciators to manage plant safety is the major factor driving the market growth. Moreover, the increasing deployment of connected equipment in industries is boosting the growth of the industrial annunciator market.
Key Market Segments
In terms of type, the conventional annunciator segment accounted for the larger share of the North Americaindustrial annunciator market in 2019. In terms of enduser, the large discrete industry segment held a larger market share of theindustrial annunciatormarket in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred while preparing this report on the industrial annunciator market in North Americaare company websites, annual reports, financial reports, national government documents, statistical database, and among others. Major companies listed in the report are ABB Ltd, AMETEK Inc, Eaton Corporation plc, Ronan Engineering Company and Automation Displays Inc., and among others.
Reasons to buy report
NORTH AMERICAINDUSTRIAL ANNUNCIATOR MARKET SEGMENTATION
By Type
By Enduser
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 396.52 Million |
| Market Size by 2027 | US$ 490.18 Million |
| CAGR (2020 - 2027) | 2.8% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Industrial Annunciator Market is valued at US$ 396.52 Million in 2019, it is projected to reach US$ 490.18 Million by 2027.
As per our report North America Industrial Annunciator Market, the market size is valued at US$ 396.52 Million in 2019, projecting it to reach US$ 490.18 Million by 2027. This translates to a CAGR of approximately 2.8% during the forecast period.
The North America Industrial Annunciator Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Industrial Annunciator Market report:
The North America Industrial Annunciator Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Industrial Annunciator Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Industrial Annunciator Market value chain can benefit from the information contained in a comprehensive market report.
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