Dublin, March 01, 2022 (GLOBE NEWSWIRE) -- The "Global Machine Control System Market with COVID-19 Impact Analysis by Type (Total Stations, GNSS, Laser Scanners, Sensors), Equipment, Vertical (Infrastructure, Commercial, Residential, Industrial) and Geography - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global machine control system market size is projected to grow from USD 4.5 billion in 2022 to USD 6.5 billion by 2027 at a CAGR of 7.7%
The growth of the machine control system industry is driven mainly by the elimination of bulk earthworks set out and survey pegging using machine control systems and anticipated demand from the growing construction industry.
COVID-19 has emerged as a global pandemic that has spread worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the machine control system market.
GNSS is expected to grow at the highest CAGR during the forecast period
GNSS, used with various other construction equipment, such as dozers, excavators, and scrapers, significantly helps in efficient surveying and positioning in harsh environments. These systems are largely preferred in a variety of applications, including construction sites, mining plants, or infrastructure projects, due to their high point machine guidance.
The infrastructure vertical is expected to hold the largest share of the machine control system market during the forecast period
The infrastructure vertical is expected to hold the largest share of the machine control system market during the forecast period. In infrastructural projects, machine control solutions are used primarily while laying rail tracks, banking of roads, building tunnels through mountains or underwater, building airports and airstrips, and building bridges, among various other tasks.
Population growth and internal migration in the Asia Pacific over the past decade have prompted governments to continue to increase expenditure on infrastructure. Asia Pacific has also been witnessing a growing number of airports, dams, hydroelectric projects, roads, and bridges. The Middle East has also seen tremendous growth in infrastructure in the past two decades; the infrastructure spending in the region is projected to continue in the next five years.
Asia Pacific is projected to grow at the highest CAGR during the forecast period
The machine control system market in Asia Pacific is projected to hold the largest share and grow at the highest CAGR during the forecast period. China is the largest market among all Asia Pacific countries. Advancements in agricultural practices involving precision farming have accelerated the growth of the agriculture industry.
The Australian government is enhancing transport systems, and the use of machine-guided solutions in the transportation industry is expected to grow. Australian rail is among the most modern and sophisticated transport in the world. Rapid urbanization and development and expansion of new cities are the key factors driving the growth of the infrastructure sector, including construction and transportation.
Major players in the machine control system market include Topcon (Japan), Trimble (US), Hexagon (Switzerland), MOBA Mobile Automation (Germany), Hemisphere GNSS (US), and EOS Positioning Systems (US).
Premium Insights
- Attractive Growth Opportunities in Machine Control System Market
- Gnss to Account for Largest Share of Machine Control System Market During Forecast Period
- Excavators to Account for Largest Share of Machine Control System Market in 2027
- Market to Grow at Highest CAGR in China from 2022 to 2027
Market Dynamics
Drivers
- Elimination of Bulk Earthworks Setout and Survey Pegging
- Requirement of Faster Work and Maximum Efficiency in Tightly Scheduled Infrastructure Projects
- Safety Concerns Associated with Workers and Heavy Construction Machinery
- Anticipated Demand from Growing Construction Industry
Restraints
- Decrease in Demand for Machine Control Systems due to COVID-19 Outbreak
- Requirement of High Initial Investment
- Lack of Essential Technical Expertise
Opportunities
- Rising Trend of 3D Modeling and Scanning Across Industries
- Increasing Demand for Machine-Guided Technologies in Emerging Nations in Asia-Pacific
Challenges
- Sustaining Reliability and Accuracy in Data Provided by Machine Control Systems Based on Gnss Technology
Value Chain Analysis
- Ecosystem Analysis
- Trends/Disruptions Impacting Customers
Case Studies
- Technology Analysis
- Iot
- Machine Learning
- Artificial Intelligence
- Pricing Analysis
Trade Analysis
- Imports Scenario
- Exports Scenario
Patents Analysis
- Top 10 Companies with Highest Number of Patent Applications in Last 10 Years
- Top 20 Patent Owners in Us in Last 10 Years
Regulatory Landscape
- Standards for Machine Control Systems
- Regulations for Construction Equipment
Company Profiles
Key Players
Machine Control System Providers
- Trimble
- Topcon
- Moba Mobile Automation
- Hemisphere Gnss
- James Fisher Prolec
- Eos Positioning Systems
Construction Equipment Providers
- Komatsu
- Caterpillar
- Volvo Construction Equipment
- Liebherr Group
- JCB
- Kobelco Construction Machinery
- Hitachi Construction Machinery
- Hyundai Construction Equipment
Other Players
- Hi-Target Surveying Instrument
- Ti Asahi
- Stonex
- South Surveying & Mapping Technology
- North Group
- Xiamen Xgma Machinery
- Kato Works
- Hiab
- Takeuchi Manufacturing
- Case Construction Equipment
For more information about this report visit https://www.researchandmarkets.com/r/505c7p
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