Machine Control System Market 2019 Global Segments, Top Key Players, Drivers, Industry Growth and Recent Trends by Forecast to 2023
Global Machine Control System market was valued at USD 4 Billion in 2017. The market is projected to reach USD 8 Billion by 2023, expanding at a CAGR of 14.12% over the forecast period
Pune, India – March 18, 2019 /MarketersMedia/ —
Machine Control System Market Overview:
The increasing use of machine control systems has been spurred by the rising sales of machines to complete a broad range of applications. Market reports connected with the semiconductors and electronics industry have been offered by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better.
The market is projected to develop at a CAGR of 14.12% while progressing with revenues reaching USD 8 Billion in the duration of the forecast period.
The developments noticed in the construction, agriculture, transportation sectors are instrumental to the expansion of the demand witnessed for Machine Control System Market. Moreover, the resurgence of the global economies is leading to the rise in the number of on-going construction projects, which is also beneficial to the expansion of the market.
Major Key Players:
• ABB Group
• Leica Geosystems
• Topcon Corporation
• Trimble Inc.
• RIB Software AG
• Andritz, Belden Inc.
• Schneider Electric
• Mitsui Co
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Segmental Analysis:
The segmentation of the machine control system market is carried out on the basis of equipment, type, region, and end user. On the basis of type, the machine control systems market is segmented into global navigation satellite system, total stations, laser scanners, and GIS controllers. Based on equipment, the market is segmented into dozers, scrapers, loaders, excavators, and graders. Additionally, the end user’s segment of the market is segmented into construction, mining, agriculture, and marine. The regions that are included in the market’s study are North America, Europe, Asia Pacific, and the Rest of the World.
Detailed Regional Analysis:
The regional analysis of the global machine control system market consists of regions such as Europe, Asia Pacific, North America, and the Rest of the World. The North American region controlled the Machine Control System market in 2017 by ruling the biggest market share due to the elevated growth in the construction sector and increasing process automation and instrumentation market in the region. The advancement in agricultural procedures and well-developed network infrastructure are a few of the other factors adding to the growing market value of machine control system in the region. The U.S. is controlling the economy in the market, narrowly followed by Canada in 2017.
The established construction industry and high economic progress in the agriculture sector are the foremost factors fuelling the market progress in the U.S. Though Canada is implementing machine control technology for highway construction projects and advancing partnership of machine control system manufacturer and OEMs to offer earth moving equipment. The market in Canada is expected to observe a high growth rate through the forecast period. Mexico also has been a high capability market for aerospace, automotive and food & beverage sector which is also anticipated to progress an opportunity for machine control market in the impending future.
Competitive Analysis:
The employment of product differentiation has led to a favorable product differentiation scenario that is complementing the market’s growth. The participants in the market are trying to establish several USPs that will enable them to capture a more substantial share of the market. Additionally, the vertical additions and product tactics of the market is increasing the potential for the market players. The analysis of the market observes that the market is poised for an accelerated growth rate in the forthcoming years. Improved approachability to various resources and capabilities is projected to compel the growth of the market in the imminent forecast period. The use of successful strategy execution techniques is estimated to have a positive effect on the future growth of the market.
The eminent competitors in the Machine Control System Market are Leica Geosystems, ABB Group, Topcon Corporation, RIB Software AG, Schneider Electric, Trimble Inc., Andritz, Belden Inc., and Mitsui Co. among others.
Industry Updates:
Dec 2018 The international technology group ANDRITZ has effectively launched Metris addIQ, which is a state-of-the-art digital control system for separation uses. Metris addIQ offers added value by increasing accessibility and diminishing production costs through amplified equipment efficiency and reduced operating errors.
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Intended Audience:
• Component manufacturers
• Original equipment manufacturers (OEMs)
• Integrated device manufacturers (IDMs)
• Original design manufacturers (ODMs)
• Assembly, testing, and packaging vendors
• Suppliers and distributors
• Government
• Technology investors
• Research institutes
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Source: MarketersMedia
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