Global Push Buttons and Signaling Devices Market Growing at a CAGR of 5.2% by 2031

Category : Semiconductor And Electronics | Published Date : Jun 2024

Push Buttons and Signaling Devices Market Definition & Overview :

Push Buttons are used to open or close an electric circuit and signaling devices are used for sending audible and visual signals. They are used in several industries like automotive, consumer electronics, food & beverages, construction, and healthcare among others.

Consegic Business Intelligence analyzes that the Global Push Buttons and Signaling Devices Market size was valued at USD 1,914.33 Million in 2022, projected to grow by USD 1,970.34 Million in 2023, and is expected to register a CAGR of 5.2% to reach USD 2,966.38 Million by 2031.

This report comprises Push Buttons and Signaling Devices Market Share, Size & Industry Analysis, By Product (Push Buttons and Signaling Devices), By Connectivity (Wired and Wireless), By End-User(Automotive, Healthcare, Oil & Gas, Food & Beverage, Construction, and Others), By Region(North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.

This report contains detailed information on Push Buttons and Signaling Devices Market Opportunities, Trends, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.

As per the report analysis, the utilization of push buttons and signaling devices in food and beverages, healthcare, and automotive industries is driving market growth. In the healthcare industry, signaling systems are installed in monitoring devices, to improve patients' safety and enhance efficiency.

Segmental Analysis :

The Push Buttons and Signaling Devices Market is segmented into four major segments based on product, connectivity, end-user, and region.

Based on product, the market is bifurcated into push buttons and signaling devices.

  • The push buttons segment held the largest market share in 2022, as they offer several benefits like compact design, lower cost, ease of utilization, durability, and resistance to higher voltages.
  • During the forecasted period, the signaling devices are expected to witness the fastest CAGR as they are used to convey messages in manufacturing lines, or operational machinery.

Based on the connectivity, the market is divided into wired and wireless.

  • In 2022, the wired segment held the highest revenue share, due to its prime applications in consumer electronics, industrial control systems, and communication devices.
  • The wireless segment is expected to register the fastest CAGR from 2023 to 2031, as it provides ease of handling and arrangement of push buttons and switches.

Based on end-users, the market is categorized into automotive, healthcare, oil & gas, food & beverage, construction, and others.

  • The automotive segment held the largest revenue share in 2022, contributing about 29.52% of the total revenue share because of wide applications of push buttons such as to start/stop the engine, vehicle forward, reverse rotation, interlock, and lighting switches among others.
  • The fastest CAGR over the forecasted period is expected to be witnessed by the food & beverage segment, as audio and visual signaling devices are used for quality control and production efficiency.

By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

  • In 2022, the European market region was valued at USD 674.03 Million and is expected to grow up to USD 1,049.80 Million by 2031, due to the expansion of healthcare, food & beverage, construction, and automotive industries.
  • The Asia-Pacific region was valued at USD 492.37 Million in 2022, out of which China accounted for the highest revenue share of 32.80%. Asia-Pacific is anticipated to have the fastest CAGR during the forecasted period of 5.6% as industrialization is booming in this region.
Report Attributes Report Details
By Product Push Buttons and Signaling Devices
By Connectivity Wired and Wireless
By End-User Automotive, Healthcare, Oil & Gas, Food & Beverage, Construction, and Others
By Region North America(U.S., Canada, Mexico)
Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe)
APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific)
Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA)
LATAM(Brazil, Argentina, Chile, Rest of LATAM)

Top Key Players & Competitive Landscape :

The competitive landscape encompasses major innovators, industry giants, aftermarket service providers, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, mergers and acquisitions, market share analysis, resulting market fragmentation, and emerging partnership trends and dynamics.

List of prominent players in the Push Buttons and Signaling Devices Industry :

  • ABB
  • Honeywell International Inc.
  • Rockwell Automation
  • Schneider Electric
  • Eaton
  • Robert Bosch GmbH
  • Johnson Electric Holdings Limited
  • Siemens
  • OMRON Corporation
  • Emerson Electric Co.