The worldwide market for machine safeguarding solutions is expected to post a compound annual growth rate of 8.4% over the next five years. The market was over $1 billion in 2004 and is expected to be over $1.5 billion in 2009.
According to ARC director of research Sal Spada, manufacturers are leveraging an intelligent safety strategy as a competitive advantage rather than seeing it as a cost burden. “This shift on the demand side is a key contributor to the acceleration of the revenue growth of the overall market,” says Spada.
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