WASHINGTON, Jan. 04, 2022 (GLOBE NEWSWIRE) -- The Global Machine Control System Market size is expected to reach over USD 6.80 billion by 2028, exhibiting a CAGR of 8.44% during the forecast period.
Market Synopsis
The growth of the Machine Control System sector is driven majorly by the need for cost reduction by cutting down manpower and faster work with more efficiency and effectiveness during proper timelines, states Vantage Market Research, in a report, titled “Machine Control System Market Size by Type (Total Stations, GNSS, Laser Scanners, Airborne), by Equipment (Excavators, Loaders, Paving Systems, Graders, Others), by Vertical (Infrastructure, Commercial, Residential, and Industrial), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Machine Control System Market:
| Sr. No. | Companies | Headquarters |
| 1. | Eos Positioning Systems | U.S., North America |
| 2. | Caterpillar | U.S., North America |
| 3. | Trimble | U.S., North America |
| 4. | MOBA Mobile Automation | Germany, Europe |
| 5. | Topcon | Japan, Asia Pacific |
| 6. | Hemisphere GNSS | U.S., North America |
| 7. | Hexagon | Sweden, Europe |
| 8. | Volvo Construction Equipment | Sweden, Europe |
Market Dynamics:
Restraint: Initial Investment Requires Huge Capital
Construction Equipment such as, dozers, graders, and excavators are used in construction and mining applications and these are equipped with a technology which is machine-guided to enhance efficiency, safety, and productivity in the earthmoving hustle. Dozers, graders, and excavators are costly, and inclusion of a technology which is machine-guided increases the integration and installation costs of the construction equipment. Therefore, mining and construction operators need huge capital for renting or purchasing equipment which is integrated with machine control technology. Although this technology offers higher preciseness, helps in speedy completion of the projects, and also has a low cost of maintenance, but high investment is a hampering the market growth.
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Challenge: Maintaining accuracy and reliability in the information provided by these Machine Control Systems is dependent on GNSS technology
In sectors such as agriculture and construction, paving, grading, drilling and piling, among others, need machine-guided advanced technology in which GNSS satellite and 3D view technologies are utilized for efficient operations. GNSS is used by Machine Control Systems so that from satellites it can receive electromagnetic waves and are sensitive to failures owing to EMP (electromagnetic pulse) and radio interference. Hence, for GNSS technology the challenge is to keep up the reliability of these systems for the gathering of those accurate signals from satellite, which curtails affecting the market growth.
Regional Trends
Asia Pacific is expected to be the fastest-growing in the market. This is owing to the expanding commercial, industrial, and infrastructure projects in emerging nations such as Japan, India, China, and South Korea. Existing infrastructure of these nations, such as sewage systems, roads, bridges, and tunnels, are constantly being worked upon and modified with the help of numerous Machine Control System and equipment. However, in Asia Pacific the market is likely to see a dip due to the pause in both new and on-going construction and infrastructure projects owing to COVID-19 pandemic. With the gradual start in operations, the demand for the market will rise in the forecast period.
Key Findings
- GNSS to hold the largest market share: This is attributed to deployment of GNSS equipment such as excavators, dozers, graders, scrapers, and airborne systems. The use of GNSS for a number of applications like agriculture, mining, ground mapping, defence, Unmanned Aerial Vehicle (UAV), among others, is another determinant facilitating the demand of Machine Control Systems. Additionally, GNNS technology provides high accuracy and efficiency for the positioning of heavy machineries, that promises enhanced productivity.
- Construction Segment to hold the largest market share: This is owing to the increasing urbanization and numerous on-going projects related to infrastructure undertaken by emerging nations. Construction sites require thousands of workforces, and the increasing demand for security measures have resulted into the adoption of these systems in the construction industry. Additionally, the rising demand for sustainable planning has expanded the demand for these systems for the development of residential buildings, commercial buildings, and retail spaces.
Important questions answered in this report:
- What is the estimated market size and growth rate of the Machine Control System Market?
- Which segments are included in the Machine Control System Market?
- Which top companies are active in the Machine Control System Market?
- What are the major driving factors for the growth of the Machine Control System Market?
- How can I get free sample reports or study of Machine Control System Market?
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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Machine Control System Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Machine Control System Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
This market titled “Machine Control System Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2020 | USD 3.56 Billion |
| Projected Market Size in 2028 | USD 6.80 Billion |
| CAGR Growth Rate | CAGR of 8.44% from 2021 to 2028 |
| Base Year | 2020 |
| Historic Years | 2016 – 2019 |
| Forecast Years | 2021 – 2028 |
| Segments Covered | Product, Equipment, Vertical, and Geography |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Browse market data Tables and Figures spread through Pages and in-depth TOC on "Machine Control System Market by Type (Total Stations, GNSS, Laser Scanners, Airborne), by Equipment (Excavators, Loaders, Paving Systems, Graders, Others), by Vertical (Infrastructure, Commercial, Residential, Industrial), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". View detailed Table of Content here - https://www.vantagemarketresearch.com/press-release/machine-control-system-market-494395
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