What is Annunciator Panels Market?
Annunciator panels are a group of lights used as a central indicator of the status of equipment or systems in an industrial process, building or other installation. They are an intrinsically safe backlit annunciator suitable for use in hazardous environments. Increasing digitalization in the various industry has projected the growth of the annunciator panels market in the forecast period.
Highlights from Annunciator Panels Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | ABB (Switzerland), Eaton Corporation Inc (Ireland), Honeywell International Inc. (United States), Alpha Controls & Instrumentation Inc. (Canada), Bosch (Germany), AMETEK, Inc. (United States), AES Corporation (United States), Mircom Technologies Ltd. (Canada) and Qualitro (United States) |
Annunciator panels market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance, along with try to incorporate latest technology. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.The Players having a strong hold in the market are ABB, Eaton Corporation Inc, and Honeywell International Inc.. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Annunciator Panels market throughout the forecasted period.
ABB (Switzerland), Eaton Corporation Inc (Ireland), Honeywell International Inc. (United States), Alpha Controls & Instrumentation Inc. (Canada), Bosch (Germany), AMETEK, Inc. (United States), AES Corporation (United States), Mircom Technologies Ltd. (Canada) and Qualitro (United States) are some of the key players profiled in the study. Annunciator Panels Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Homehold, Commercial and Industrial |
Type | Fire Alarm Panels, Gas Alarm Panels and Smoke Alarm Panels |
Distribution Channel | OEMs,Wholesaler,Retailer,Others |
On the basis of geography, the market of Annunciator Panels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Rapid Electrification and Industrialization in the Developing Economies
Market Growth Drivers:
Increasing demand for annunciator panels in the home alarm is the major driver for the growth of the global annunciator panels market. Home security is a concern for many homeowners and in some cases, double locks on the doors or security windows do not provide adequate peace of mind. Home alarm systems offer extensive security services that may allow feeling safer and more protected in the home.
Challenges:
High Cost of Installation
Restraints:
High Cost Associated with Annunciator Panels and Rising E-waste is Hazardous to Environment
Opportunities:
Increasing Demand from the Commercial Sector Creates Opportunity for Annunciator Panels
Key Target Audience
Annunciator Panels Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other
Market Leaders & Development Strategies
In December 2021, Honeywell acquired US Digital Designs, Inc., a Tempe, Ariz.-based company, for a purchase multiple of ~14X EBITDA in an all-cash transaction. This acquisition heled company to expand its presence in annunciator panels market
On 26th March 2018, Honeywell is expanding its line of Fire-Lite and addressable fire alarm control panels to give safety professionals more options for designing small to medium-sized fire systems. The Fire-Lite Endurance Series offers two new fire alarm control panels.