Push buttons and signaling devices are used industries to monitor and control machinery and equipment. In this report, the global push buttons & signaling devices market has been studied to reveal that it is poised to register 5.1% CAGR during the review period 2019 to 2024. The valuation of the global market, in terms of revenue, is anticipated to reach USD 2,206.2 Mn by 2024, increasing from USD 1,654 Mn in 2018.
The emergence of Industry 4.0 is widely accepted across different industry domains. Increasing deployment of automation in industries is likely to open avenues of growth for the push buttons & signaling devices market over the next few years. Also, the rising awareness about safety is expected to boost the demand for the product in industries that poses a risk to employees such as oil & gas, mining, etc. Technological advancements are further projected to catalyze the growth process of the push buttons & signaling devices market in the coming years.
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The flexibility offered by the product in the control and functionality of the machinery is likely to drive the proliferation of the push buttons & signaling devices market. However, the high initial investment required might impede the market growth across the forecast period.
By type, the push buttons & signaling devices market has been divided into push buttons and signaling devices. The push button segment has been further sub-segmented into 30mm push buttons, 20mm push buttons, and others. The sub-segments of the signaling devices segment are – visual signaling devices (tower lights, rotating beacons, led stick lights, panel light bars, and others) and audible signaling devices (intercoms, electronic sounders & tone generators, bells & horns, alarms, and others).
Based on connectivity, the global push buttons & signaling devices market has been divided into wired and wireless connectivity.
The segments of the push buttons & signaling devices market, based on vertical, include mining, food & beverages, chemicals & pharmaceuticals, oil & gas, energy & utilities, and others.
The regional assessment of Push Buttons & Signaling Devices Industry is covered in this MRFR study on both regional ands country-level basis. The key regions identified in the report are – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). North America is assessed to hold the leading position with its control over 30% of the share of the global market. The push buttons & signaling devices market in the region is prognosticated to benefit from the government regulation that mandates industrial safety measures. Technological developments are also projected to lead the growth rate of the regional market in the coming years. Asia Pacific is estimated to strike the highest growth rate over the evaluation period. This can be attributed to the rapid developments in the industrial sector of the region, which are further supported by the governments.
ABB Ltd (Switzerland), Robert Bosch GmbH (Germany), Emerson Electric Co. (US), Rockwell Automation Inc. (US), Eaton PLC (Ireland), Siemens AG (Germany), Omron Corporation (Japan), Thomas & Betts Corporation (US), Schneider Electric (France), Thales Group (France), GENERAL ELECTRIC (US), Potter Electric Signal Company LLC (US), PATLITE Corporation (US), Honeywell International Inc. (US), and Koninklijke Philips Electronics NV (Netherlands) are few of the major vendors of the global push buttons & signaling devices market. Other players that are assessed to play a limited, yet important role, in the development of the global market are R. Stahl AG (Germany), Federal Signal Corporation (US), E2S Warning Signals (UK), WERMA Signaltechnik GmbH + Co. KG (Germany), C&S Electric Limited (India), Tomar Electronics (US), and Thakral Services (India) Ltd (India)
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