LONDON, March 14, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the machine control system market identifies rising urbanization as significantly contributing to the growth of the machine control system market. Due to various factors such as industrialization, commercialization, social benefits and services, employment opportunities, modernization, and changes in the mode of living (from rural to urban), urbanization is accelerating. To support urban development, rising urbanization necessitates well-built infrastructure. Roads and other infrastructure buildings require proper and efficient earthwork and construction performance, which can be achieved by machine control systems, driving demand for machine control systems. For instance, according to the World Bank, an international financial institution, in 2020, over 50% of the population lived in urban areas globally, and the number of people living in urban areas will grow by 1.5 times to 6 billion by 2045. Therefore, rising urbanization will drive the machine control system market going forward.
The global machine control systems market size is expected to grow from $4.4 billion in 2022 to $5 billion in 2023 at a compound annual growth rate (CAGR) of more than 11%. The market size is then expected to reach $7.6 billion in 2027 at a CAGR of more than 10%.
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Technological innovation is a key trend that is gaining traction in the machine control system market. Major machine control system market players are focusing on incorporating technological advancements such as augmented reality (AR) into their machine control system offerings in order to enable automated functions and gain a competitive advantage. For instance, in March 2020, Trimble Inc., a US-based software, hardware, and services technology company, launched Trimble Earthworks Grade Control Platform version 2.0. It adds additional capabilities to all machine kinds. The enhancements were implemented to help accelerate ROI (return on investment), increase output, and shorten operator training periods.
Major players in the machine control system market are Topcon Corporation, Trimble Inc., Hemisphere GNSS Inc., Leica Geosystems AG, Eos Positioning Systems Inc., MOBA Mobile Automation AG, Liebherr, Belden Inc., RaptorTech, Hexagon AB, James Fisher and Sons plc, Carlson Software, L5 Navigation Systems AB, Challenger Geomatics Ltd., Schneider Electric, Omron Corporation, Microverse Automation Pvt Ltd., Coperion GmbH, and Otto Bihler Maschinenfabrik GmbH & Co KG.
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The global machine control system market is segmented by equipment into excavators, loaders, graders, dozers, scrapers, paving systems; by controller type into computer numerical control (CNC), programmable logic controller (PLC), programmable automation controller (PAC), personal computer (PC), motion controllers, other controller types; by technology into global navigation satellite system (GNSS), laser scanners, GIS (geographic information system) collectors, total stations, airborne systems, other technologies; by industry into building and construction, agriculture, mining, transportation, aerospace and defense, automotive, marine, waste management, utilities, other industries.
North America was the largest region in the machine control system market in 2022. The regions covered in the machine control system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Machine Control System Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032 by The Business Research Company provides insights and machine control system market analysis on the machine control system market size, machine control system market segments, machine control system market trends, drivers and restraints, machine control system industry major competitors’ market positioning, revenues and machine control system market share.
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