Global Industrial Annunciators Market
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Global Industrial Annunciators Market was valued $452.3Mn in 2020 and is expected to reach $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 from all over the plant. This data is then combined logically to indicate off-normal conditions and alert the operators, visually and audibly, that remedial actions may be required to return the plant to its normal operating state. Replacing these obsolete devices with modern state-of-the-art collection, conditioning and display devices need not be a complex or risky endeavour.
Global Industrial Annunciators Market Dynamics
The demand for annunciators is also witnessing growth in an upward trajectory due to the growing need for functional safety assessment. The increasing plant complexity due to the increase in the number of connected processes and equipment is augmenting the need for alarm handling for the incorporation of annunciators. The need for annunciators has increased due to the regulatory compliances that direct plants to employ functional safety in their processes.
The need for safety has increased for allowing an effective interface between man and machine due to the growing application of automation in plants. The complexity of the system and 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 industries as well as discrete industries, is showcasing an upward growth trend in the industrial annunciator market.
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Last Update : 31 March 2021 5:26 AM
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