Technavio, a tech-focused market research firm, has published a new report on the global protective communication equipment market, which is expected to experience substantial growth with a CAGR of close to 8% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global protective communication equipment market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global protective communication equipment market into the following key regions: North America, Europe, APAC, and ROW.
Geographical segmentation of the global protective communication equipment market for 2015 (market share %)
|
North America |
34.00% |
|
APAC |
28.00% |
|
Europe |
22.00% |
|
ROW |
16.00% |
Source: Technavio
North America: largest revenue generating region for protective communication equipment
The market is flourishing in North America as the region, particularly the US, is the innovation hub of protective communication products, with the presence of key vendors such as Honeywell and 3M. An increasing number of new players are also venturing into the market space by offering novel and improved products. The growth of the protective communication market in North America is driven by strict worker safety regulations and high worker compensation in the event of injuries. The rapid consumption of intelligent hearing protection and communication products by the defense industry also fuels the market’s growth. The protective communication equipment market in North America is expected to post a CAGR of close to 8% during the forecast period and account for a revenue of around $275 million by 2020.
According to Abhay Sinha, a lead analyst at Technavio, “Vendors in the global protective communication equipment market are focusing on the introduction of new products that are integrated radio and Bluetooth communication systems. Apart from enhanced flexibility, products with multiple communication systems also come with the option of using the Bluetooth feature for entertainment purposes, including listening to music. These products represent a new, fast-growing category of products due to the value-addition they offer to wearers.”
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Protective communication equipment market in APAC
The market in APAC accounted for around 28% of the overall revenue from the global protective communication market in 2015. The market in this region is expected to experience above-global-average growth, with a CAGR of around 9%. The rising investments in this region and the establishment of new manufacturing facilities are some of the key factors fueling the growth of the protective communication market in APC during the forecast period. In 2015, manufacturing, oil and gas, and construction segments were the three leading end-users of protective communication products in APAC. Passive hearing protection and communication products are still widely used in this region due to low cost, hindering the widespread adoption consumption of intelligent alternatives in the region. During the forecast period, China and India are likely to emerge as key revenue generating regions.
Protective communication equipment market in Europe
The protective communication equipment market in Europe will grow at a relatively moderate rate to account for a revenue of around $171 million by 2020. The market’s growth will be propelled by the increasing substitution of passive hearing and communication technologies with intelligent alternatives. This trend is predominant Western Europe, where the growth of intelligent hearing protection and communication products is comparable to that in the US. Vendors in this region, such as Phonak, offer technologically-advanced products that are suitable for a wide range of applications. In 2015, the manufacturing and defense segments were the two leading end-users of protective communication products in Europe.
Protective communication equipment market in ROW
The protective communication equipment market in ROW is anticipated to grow at a moderate rate, posting a CAGR of almost 7%. The market’s growth in this region is attributable to the strong growth in key end-use industries. Key vendors in the market focus on enhancing their presence in the region as the competition are low. In 2015, oil and gas, construction, and manufacturing were the three leading end-users of intelligent hearing protection products in ROW.
The top leading vendors operating in the global protective communication equipment market are:
- 3M
- Honeywell
Other prominent vendors in the market include Aegisound, CavCom, Elacin Hearing Protection, Hellberg Safety, Hunter Electronic, Minerva Hearing Protection, Savox Communications, Silenta Group, Silynx Communications, Sonetics, and Variphone International.
