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Engineering Industry Developments and Awards
News Release from: Venture Development Corp
Edited by the Engineeringtalk Editorial
Team on 31 January 2005
North America joins rush for safety
A new market study by Venture Development Corp finds the North American market for machine automatic safeguarding products to be gaining ground on Europe.
A new market study by Venture Development Corp (VDC) finds the North American market for machine automatic safeguarding products to be gaining ground on Europe The European market is forecast to grow at a CAGR of 7.4% from $751.6 in 2004 to $931.8 in 2007
This article was originally published on Engineeringtalk on 19 Feb 2007 at 8.00am (UK)
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Over the same timeframe, the North American market is forecast to grow at 12.5% from $250.2 to $356.0.
A number of factors are cited as contributing to these expected market growth rates.
The implementation of machine automatic safeguarding allows users to operate efficient high-speed machinery and equipment without fear of personal injury or equipment damage.
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.
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.
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.
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