Market for machine safeguarding solutions to grow at 8.4% annually
Dedham, MA -- Machine safeguarding solutions is one of the highest growth segments in the industrial automation sec...
Dedham, MA — Machine safeguarding solutions is one of the highest growth segments in the industrial automation sector as safety, in terms of human, machine, and environmental protection, has moved to the forefront for manufacturers. The worldwide market for machine safeguarding solutions is expected to grow at a compounded annual growth rate (CAGR) of 8.4% over the next five years. The market was over $1 billion in 2004 and is forecasted to be over $1.5 billion in 2009, according to a new ARC Advisory Group study.
From the demand side perspective, manufacturers are leveraging an intelligent safety strategy as a competitive advantage rather than a cost burden. “This paradigm shift on the demand side is a key contributor to the acceleration of the revenue growth of the overall market,” according to director of research Sal Spada, the principal author of ARC’s “Machine Safeguarding Solutions Outlook.”
The Safety Relay, which has dominated the myriad of safety solutions in the wide breadth of vertical machinery sectors, has come under strong attack from several directions. Alternative architectures and integrated solutions, which include 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 factors in the impact that each of these technologies has on each of the individual sub-sectors.
WORLDWIDE MARKET REMAINS FRAGMENTED
The global market for machine safeguarding solutions remains highly fragmented overall, consisting of a diverse mix of suppliers with generally one area of specialization. The machine safeguarding business has traditionally been a component business rather than a solutions or systems business; however, recent dynamics in the market are reshaping the supply side as a new set of players are challenging the historically strong brands.
Long-standing safety component suppliers are being blindsided by new technologies, acquisitions and partnerships. In effect, the supply side is re-orienting to service the emerging requirements of the demand side, which includes manufacturing users and machine builders.
For more information on this study, go to: www.arcweb.com/res/mrm.