Machine Control System Market-Industry Size, Sales And Income, Application, Manufacture Players, and Opportunities Analysis by Outlook 2027
Research Reports
Jan 12, 2022
Market Overview
Machine control systems have various types of wide applications in types of machinery used in various sectors such as construction, agriculture, transportation, and other sectors. These systems play an efficient role in the construction sector because huge types of machinery are used in construction activities which needs a proper control system to operate. Therefore, the number of construction processes and development of huge infrastructures are propelling the growth of the Machine Control System Market. The development of smart buildings and infrastructure in various countries worldwide boosts the regional growth of the Machine Control System Market. The increased rate of urbanization is another major growth factor of the market.
The market’s key driving factors are responsible for enhancing its share value globally. The rise in automation technology is setting growth opportunities for the market. The wide preference for 3D visualization is upgrading the operational and workflow of building construction. The increased rate of commercial construction projects across the developed cities is enhancing the growth value of the market. The greater investments by the government and private organizations for the development of commercial buildings and infrastructural developments are propelling the Machine Control System Market growth.
The ongoing pandemic has negatively impacted the industrial and marketing sectors. It mostly affected the production process because the manufacturing and operational units were shut down due to the strict lockdown rules. Due to restrictions, the delivery of raw materials and transportation of end products was stopped. But the key market players are focusing on growth opportunities; for instance, they are focusing on automation technologies that will provide huge opportunities for the market in the future years—the key marketing strategies to follow up to enhance the existing marketing factors.
In the future years, the Machine Control System Market is expected to witness a CAGR of 14.12 % and a USD value worth $8 Billion during the evaluation period.
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Key Players
Market Research Future (MRFR) identifies the following companies as the key players in the machine control system market – ABB Group, Leica Geosystems, Topcon Corporation, Trimble Inc., RIB Software AG, Andritz, Belden Inc., Schneider Electric, and Mitsui Co. among others.
Market Segmentation
The Machine Control System Market is fragmented into types, equipment, end-users. The type segment consists of sub-segments such as global navigation satellite systems (GNSS), laser scanners, total stations, GIS controllers, etc. Meanwhile, the equipment segment comprises dozers, excavators, loaders, scrapers, graders, etc. This equipment is of wide usage in construction activities. The end-users segment is classified into various sectors such as construction, mining, agriculture, marine, and others.
Regional analysis
Geographically, the Machine Control System market in four different regions namely, North America, Europe, Asia Pacific, and Rest of the World. The North American market is further divided into the U.S., Canada, and Mexico while the European market is segmented into Germany, the U.K., France, Spain, Russia, and Rest of the Europe. The Asia Pacific market is sub-divided into China, India, Japan, South Korea, Taiwan, Singapore, Australia, New Zealand, Indonesia, Kazakhstan, and Rest of Asia Pacific.
The machine control system manufacturers comprise mostly the electronic component manufacturers along with software developers. The software developers typically design and develop the software for control system based on the type of machinery it is to be applied. These software developers generally contract with the system assemblers for the procurement of electronic components as any severe increase in the component price could impact margins for software developers adversely. The software developers also must be aligned with the type of component used. Manufactures from China contribute highly to the Asia Pacific production. Apart from China, other prominent countries involved in the production are the U.S., Canada, the U.K, Germany, India, Japan, and South Korea.
In terms of revenue, North America accounted for the largest market share of 40% in 2017, with a market value of USD 1 billion and is projected to grow at CAGR of 12% during the forecast period followed by Europe. Asia Pacific is projected to grow with the fastest growing CAGR during forecast period.
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