Pune, India -- (SBWIRE) -- 10/30/2018 -- The main objective of this report is to define, describe, and forecast the global "Signaling Devices" market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global signaling devices market is projected to grow at a significant CAGR  over the forecast period of 2018-2024.

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New product launched by Auer Signal GmbH

In September 2018, Auer Signal GmbH, one of the world's leading manufacturers of signaling equipment and is present in over 70 countries. In September, the company launched the new product called Modul Perfect 70, the name of this new product sums up its capabilities.

Growing usages of Signaling devices in different industries such as chemical and pharmaceutical, oil and gas, mining escalate the market

Signaling devices are used in safety and security management system to avoid, damage of property as well as life. In addition, these signaling devices are developed to reduce the loss during natural disasters such as hurricanes and earthquake. Rising demand for signaling devices in oil and gas industries is major factor driving Signaling Devices Market. In addition, the other factor responsible for the driving the growth are rising demand for LED lighting solution, growing demand for Strobe beacon as an attention-getting device and warn of a possible hazard and Strict rules set by the government regarding the industrial safety work across the globe. Moreover, these devices are easy to maintain and allow the user to add elements according to their need.  However, the lack of awareness regarding the industrial work safety in many developing and the underdeveloped region is anticipated to hamper the growth of the signaling devices market.

Europe region to contribute to growth in the global Signaling Devices market over the next 6 years

North America dominates the signaling device market in terms of revenue followed by Europe. Stringent rules concerning industrial work safety across every industry is the primary reason driving the growth of the market in U.S. region. Europe is witnessing to the high growth rate in the signaling device market owing to the largest number of the product provider. In the Asia Pacific region, rapid growing industrialization and urbanization in countries such as India, China, and Malaysia requires the signaling system for their safety purpose.

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The leading players in Signaling Devices Market are Honeywell International Inc., Auer Signal GmbH, Rockwell Automation Inc., Robert Bosch GmbH, Thakral Services (India) Ltd., Siemens AG, Eaton, Schneider Electric, PATLITE Corporation, HollySys Automation Technologies Ltd., Potter Electric Signal Company LLC.