The World Electromechanical and Solid State Relay Industry, Fifth Edition: Volume I -- North AmericaConsumption of relays in North America, which totaled about $1.4 billion and over 1.2 billion units in 1998, is forecast to reach almost $1.7 billion and over 1.6 billion units in 2003, increasing at compound annual growth rates (CAGRs) of 3.8% and 4.7% respectively. The growth rates, however, are not expected to be steady over the forecast period. Currently, the North American relay market is growing at just over a 3% annual rate in dollar volume. VDC believes this slowdown in growth is temporary and the market will return to higher growth rates, reaching 4.5% in 2003.
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