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.
The tried and true safety relay, says the study, has come under attack from several directions. Alternative architectures and integrated solutions—including Safety PLC, configurable safety relays, and Safe Motion—are all competing for a share of the safety relay market. The analysis contained in the outlook report from ARC factors in the impact that each of these technologies has on each of the individual sub-sectors.
For more information on the study, visit www.arcweb.com/res/mrm.