Conventional Annunciator Segment to Dominate Asia Pacific Industrial Annunciator Market during 2019–2027

According to a new market research study on “AsiaPacificIndustrial Annunciator Marketto 2027 – Regional Analysis and Forecast by Type, End User,”is expected to reach US$ 684.32millionby 2027 from US$ 453.40million in 2019. The market is estimated to grow at a CAGR of 5.4% from 2020 to 2027.The report provides trends prevailing in the AsiaPacificindustrial annunciator market along with the drivers and restraints pertaining to the market growth. The growth of the AsiaPacificindustrial annunciator market is attributed by the implementation of an effective human-machine interface (HMI) in plants which has resulted in an increased necessity for safety. However, choosing SCADA as an alternative to the annunciator system as they offer more benefitsmay restrain the growth of the industrial annunciators market.

Based on type, the industrial annunciatorsmarket is segmented into conventional annunciator and dedicated annunciator. The conventional annunciatorsegment held the larger share of the AsiaPacificmarket in 2019. The easy availability of conventional annunciators is enabling industrial customers to choose from a wide variety of annunciators. This bridges the gap between demand and adoption, thereby catalyzing the growth of the conventional annunciators market.

ABB Ltd, AMETEK Inc, Eaton Corporation plc, Dwyer Instruments, Inc, NOTIFIER, Schweitzer Engineering Laboratories, Inc, Apex Automation Solutions, and Omniflexare among the leading companies in the industrial annunciatorsmarket. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, ABB Ltd. announced an investment of US$ 150 million in Shanghai, China. The investment is aimed to build most advanced, automated, and flexible robotics factory. This production line will focus on machine learning, digital and collaborative solutions, and the R&D team will focus on AI research.

Asia Pacific Industrial Annunciators Market, By Country, 2019 to 2027 (%)

The report segments the Asia Pacific Industrial Annunciators Market as follows:

APAC Industrial Annunciators Market – ByType

• Conventional Annunciators
• Dedicated Annunciators

APAC Industrial Annunciators Market – By EndUser

• Process Industry
• Discrete Industry

APAC Industrial Annunciators Market– By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC