New York, USA, June 23, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “Machine Control System Market Information by Technology, Components, Application – Market Forecast Till 2030”. The Machine Control System Market could thrive at a rate of 9.81 % between 2023 and 2030. The market size will be reaching around USD 15.60 Billion by the end of the year 2030.
Key Players
Prominent market players profiled in the global Machine Control System market report include
- ABB Group
- Leica Geosystems
- Topcon Corporation
- Trimble Inc.
- RIB Software AG
- Andritz
- Mitsui Co.
- Belden Inc.
- Schneider Electric
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Scope of the Report:
| Report Metrics | Details |
| Market Size by 2030 | USD 15.60 Billion |
| CAGR during 2023-2030 | 9.81 % |
| Base Year | 2022 |
| Forecast | 2023-2030 |
| Key Market Opportunities | The rising automation in manufacturing sectors in emerging economies. |
| Key Market Dynamics | The high growth in the construction sector. Growing automation of instrumentation processes across the industries |
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Market Drivers
Machine control systems witness wide applications in construction, agriculture, transportation, and other sectors. New ideas and technology are supporting the development of the construction sector. Rising construction and infrastructure development activities worldwide are the important aspects that foster market growth, employing several heavy machineries.
The shift from 2D to 3D visualization is a major development industrial process. Besides, changes in operation and working methods in the building construction sectors worldwide increase the adoption of machine control systems. Also, the ever-increasing population and rapid urbanization positively impact the machine control system market scenario.
Restraints and Challenges
With positioning systems offering precise and efficient machine operation replacing traditional survey pegs and the rising use of HoloLens, the machine control system market shares are estimated to accelerate further. Increasing commercial & non-commercial construction projects in emerging regions and increased human & machine safety norms influence the machine control system market revenues.
The construction industry is significantly evolving with the growth in disposable income and consumer purchasing power, leading to increasing governments' infrastructural development projects and funding. The burgeoning construction industry and increased commercial and residential construction activities worldwide boost the machine control system market size.
Growing demand due to the rapid automation in manufacturing sectors offers vast opportunities to market players. However, applications of machine control systems are largely limited to earthwork construction, which alongside the lack of technical expertise and high-cost training requirements, restrict the market growth. Also, compatibility issues and high installation costs impede market growth.
Market Segmentation
The machine control system market data is segmented into types, equipment, end-users, and regions. The type segment comprises laser scanners, global navigation satellite systems (GNSS), GIS controllers, total stations, and others. The equipment segment comprises excavators, dozers, loaders, graders, scrapers, and others. The end-users segment comprises mining, construction, marine, agriculture, and others. By regions, the machine control market is segmented into Europe, the Americas, Asia-Pacific, MEA, and rest-of-the-world.
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Regional Analysis
North America dominates the global machine control system market. The rapidly growing construction sector and automation of instrumentation processes across the industries in this region escalate the machine control system market value. Moreover, agricultural process advancements and network infrastructure drive the machine control system market growth.
The rising adoption of machine control technology for highway construction projects and alliances between machine control system providers & OEMs influence the market size. The US holds the largest North American machine control system market share. The Canadian machine control system market is growing due to the construction industry and the rise in the agriculture sector in the country. The region will likely maintain its winning streak throughout the assessment period.
Europe is another lucrative market for machine control systems. The automotive, aerospace, and food & beverage sectors in the region demonstrate high growth potential. Besides, the rising demand for machine control systems from the food industry due to strict regulations and considerable healthcare spending in this region influences the market growth.
Rising demand for machine control systems from the automotive and electronics industries fosters market growth considerably. Additional factors like the large presence of medical device manufacturers and strong demand for personal care & cosmetics in the region escalate the market value.
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Industry Updates
Growing smart factory initiatives and smart-machine use of wireless IIoT maintenance technologies have established the importance of machine control systems. Machine control systems offer a cost-effective solution for machine monitoring, critical for smart-factory IIoT connectivity and controlling wireless communication protocols and sensors.
Wireless technologies are important for detecting faults in inaccessible or remotely located equipment. Wireless-based condition-monitoring functions are also crucial for machines where failure is unacceptable. The capital-intensive nature of the machine control systems puts high barriers for new entrants. However, the growing demand for these systems from the agriculture, construction, and marine sectors is likely to attract several new entrants having upgraded technology.
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