The global strobe and beacons market, by Product Type (LED Strobe Beacons and Gas Strobe Beacons), by End-use Industry (Oil and Gas, Food and Beverages, Energy and Power, Mining, Manufacturing/Machine Building, Chemical and Pharmaceutical, Commercial and Civil, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 2.58 billion by 2027, exhibiting a CAGR of 5.64% during the forecast period (2019-2027), as highlighted in a report published by . Market Definition A strobe beacon is a flashing electric lamp used in various industries such as oil and gas, food and beverages, energy and power, mining and others as a signaling or attention-getting device, either to attract potential customers or to warn of possible hazards. Strobe beacon devices as a signaling devices, are widely adopted by end users and are expected to create growth opportunities for the market players in the market over the forecast period. The global strobe and beacons market was valued at US$ 1.58 Bn in 2018 and is expected to exhibit a CAGR of 5.64% during the forecast period (2019-2027) Market Driver Increasing usage of signaling devices such as strobe and beacons in the oil and gas industry is expected to drive growth of the global strobe and beacons loaders market during the forecast period Strobe and beacons are widely used in the oil and gas industry, owing to the presence of flammable gas and highly explosive atmosphere, for which oil and gas industry is highly prone to the hazards. Thus, adoption of emergency management systems is very crucial. Emergency management systems such as strobe and beacons, lighting systems and fire alarms/call points are widely used in the oil and gas industry. These factors are expected to drive the market growth over the forecast period. Market Opportunity Upsurge in organized retailing is expected to offer lucrative growth opportunities for strobe and beacons market players Increasing disposable income, rising urbanization, entry of foreign retailers, rise of consumerism and improved living standard are expected to fuel the growth of organized retail industry, which is further expected to drive growth of the global strobe and beacon market over the forecast period. For instance, according to analysis, global urban population was 4.2 billion in 2018, which increased from 751 million in 1950. Furthermore, rising organized retail such as departmental stores, hypermarkets, supermarkets etc. is expected to fuel demand for strobe beacon technology, as these devices makes organized retail stores to attract potential customers. Hence, growing organized retail industry is expected to drive growth of strobe and beacons market over the forecast period. Market Restraints Usage of wireless signaling devices is expected to restrain growth of the global strobe and beacons market during the forecast period. Usage of wireless signaling devices, which may cause an explosion on the industry premises due to electromagnetic waves emitted by these devices is the key factor that is expected to hamper growth of the strobe and beacons market over the forecast period. Wireless signaling devices acting as a source of ignition in hazardous areas, which in turn, is expected to restrain growth of the global strobe and beacons market over the forecast period. Competitive Section Key players operating in the global strobe and beacons market include PATLITE Corporation, WERMA Signaltechnik GmbH + Co. KG, Eaton Corporation PLC (Cooper Industries), Federal Signal, Rockwell Automation, Inc., Siemens, Schneider Electric, Potter Electric Signal Company, LLC, Honeywell International Inc., Tomar Electronics, ECCO SAFETY GROUP, Auer Signal, Pepperl+Fuchs AG, Mircom, and Emerson Electric Co. among others. Key Developments
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