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February 19, 2005
North America Catching Up to Europe in Machine Automatic Safeguarding Implementation
Europe's machine safeguarding standards are more universally adopted than in other regions. Consequently, much of the initial wave of adoption has passed, and the expected growth rate is more in line with growth in European manufacturing. Because of the prior adoption, however, the learning curve of users and vendors in Europe is less steep than in North America, leading to less resources being needed for education.
Natick, MA (PRWEB) February 19, 2005 -- A new market study by Venture Development Corporation (VDC) finds the North American market for machine automatic safeguarding products to be gaining ground on Europe.
Current and Forecast Shipments for Machine Safeguarding Products (U.S. Dollars in Millions)
Europe (Compound Annual Growth Rate: 7.4%)
2004: $751.6
2005: $806.5
2006: $862.2
2007: $931.8
North America (Compound Annual Growth Rate: 12.5%)
2004: $250.2
2005: $281.2
2006: $315.9
2007: $356.0
Factors contributing to these expected market growth rates include:
- Cost savings due to efficiency gains - The implementation of machine automatic safeguarding allows users to operate efficient high-speed machinery and equipment without fear of personal injury or equipment damage.
- Prior adoption - Europe's machine safeguarding standards are more universally adopted than in other regions. Consequently, much of the initial wave of adoption has passed, and the expected growth rate is more in line with growth in European manufacturing. Because of the prior adoption, however, the learning curve of users and vendors in Europe is less steep than in North America, leading to less resources being needed for education.
- Safety buses and networking - The creation of safety networks and buses based on existing open buses and networks allows users to control and monitor their safety devices over a distributed I/O network. This reduces cost and improves performance over hard-wired devices. More complexity and diagnostics will be used to provide safer, more functional machinery.
- Safety standards and requirements - New standards are being created in the European Union and North America, as well as a convergence in the requirements between these two regions.
One factor tempering growth prospects is the ongoing shifting of manufacturing operations outside of Europe and North America. There is often less concern about machine safeguarding of equipment bought for use in other regions of the world.
To view this press release (including exhibit), please go to:
http://www.vdc-corp.com/industrial/press/05/pr05-05.html
Report Availability
http://www.vdc-corp.com/industrial/reports/04/br04-16.html
About VDC
Venture Development Corporation (VDC) is an independent technology market research and strategy consulting firm that specializes in a number of industrial, embedded, defense and niche enterprise IT markets. VDC has been operating since 1971, when graduates of the Harvard Business School and Massachusetts Institute of Technology founded the firm. Today, we employ a talented collection of analysts and consultants who offer a rare combination of expertise in the market research process; experience in technology product and program management, and formal training in engineering and marketing. VDC's clients include thousands of the largest and fastest growing tech suppliers in the world and the most successful investors participating in the markets we cover.
For more information about VDC's "Machine Automatic Safeguarding Components, Equipment and Networking: North American and European Market Demand Analysis - Second Edition," contact:
Jim Taylor, Industrial Automation Practice Director, 508-653-9000 ext. 121
Marc Regberg, Vice President, 508-653-9000 ext. 111
Join the VDC mailing list to receive future updates at: http://www.vdc-corp.com/subscriptions
Posted by Industrial at February 19, 2005 08:51 AM