DUBAI, United Arab Emirates, Feb. 09, 2022 (GLOBE NEWSWIRE) -- In 2021, the demand for machine control systems was valued at US$ 4 billion, and it is predicted to increase at an annual pace of 8% over the forecast period. As per machine control system market analysis, the growing demand for precision in heavy machinery control and navigation is projected to fuel market expansion.
Machine Control System Market is estimated valuation of US$ 13.6 Bn by 2032
| Attributes | Details | |
| Machine Control System Market CAGR (2022 – 2032) | 8% | |
| Machine Control System Market (2026) | US$ 6.3 Bn | |
| Machine Control System Market Attraction | Rise in construction activities in Asia Pacific to offer opportunities | |
Machine control systems reduce field and machine downtime while allowing for more efficient resource utilization. Failure of heavy gear at a building site can create delays in operations and result in significant financial losses.
Machine control specialists ensure that construction equipment is precisely monitored and controlled, resulting in optimized performance and quicker quality assurance on the job site. As a result, investing in machine control systems promises to save time, eliminate budget overruns, and lower machine maintenance costs, which are expected to impact the machine control system market future trends.
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Excavators, dozers, and graders are costly machines, and incorporating machine-guided technology into them raises installation and integration expenses. In addition, the machine control market trends indicate that building and mining companies need a lot of money to buy or rent equipment integrated with machine control technology.
While recent developments in machine control systems provide improved precision, aid in faster project completion, and have reduced maintenance costs, the costly initial outlay is a barrier to market expansion.
There is a growing market for machine-guided technology in the Asia Pacific. In the construction sector, cost-effective and time-efficient techniques must provide a secure, elevated, durable, and friendly constructed environment. As a result, machine control systems play a critical role in ensuring efficiency and reliability on building sites in emerging regions.
The machine control system market size is expected to reach the valuation of US$ 6.3 Bn in 2026, growing at a modest CAGR of 8%.
Key Takeaways
- Over the projected period, the Asia Pacific area is expected to grow the most, with China and India leading the way. Governments in these countries have embarked on initiatives to replace aging infrastructures such as roads, bridges, sewage systems, and tunnels by effectively using the intelligent machine control system market.
- Because of the ever-increasing population and high need for food, the agriculture segment is predicted to grow at a stable CAGR of around 10%. The demand for quick production and enhanced crop quality drives digital control system growth.
- Segmented as per equipment, excavators fully utilize the machine control system market opportunities due to their accuracy productivity than other equipment in construction and excavating operations.
- As per the machine control market report, the construction segment is leading the growth-share due to rising modernization and other infrastructural initiatives conducted by emerging regions.
- The GNSS product segment dominates the market. The high use of GNSS on scrapers, dozers, graders, excavators, and aerial devices is responsible for this high share.
- The emerging trends in the machine control system market state that the second-largest segment, total stations, is predicted to grow at a steady rate. These systems' ease of deployment and enormous product modification scope is credited with this expansion.
“Lockdowns were imposed around the world, halting many existing and prospective projects, affecting consumption for machine control systems and other construction materials. Owing to the lifting of lockdowns and vaccination rollouts, this sector has acquired traction again and is likely to rebound quickly. As a result, the machine control system market trends and forecast are now shifting again, with the demand for machine control systems is predicted to increase consistently over the forecast period.”, opines an FMI analyst.
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Comparative View of Adjacent Machine Control System Market
| Attributes | Machine Control System Market | Distributed Control System Market | Industrial Control Systems Security Market | |||
| CAGR(2022-2032) | 8% | 6% | 6.5% | |||
| Market Value(2026) | US$ 6.3 Bn | US$ 20 Bn | US$ 25 Bn | |||
| Growth Factor | Boost in the demand for quality construction equipment to boost sales. | Rising demand for industrialization and urbanization to govern demand. | Increase in digitalization and demand for ICS security solutions to drive growth | |||
| Opportunity | Investment in infrastructure vertical to offer abundant opportunities. | Asia Pacific holds abundant opportunities, owing to increasing needs for reporting and monitoring of individual components. | Rise in the demand for managed security services to offer opportunities. | |||
| Key Trends | Partnerships, collaborations, and acquisitions to drive adoption. | New product launches should be the key focus. | Investments in energy & utility verticals to offer high adoption potential. | |||
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Competitive Landscape
To enhance their offers in the market, machine control unit companies have used various organic and inorganic growth tactics, such as news releases, product developments, alliances, and collaborations.
- Topcon and Hitachi (HCMUK) collaborated in March 2020 to provide an 'inventive' and 'sophisticated' machine control for a more effective workflow. HCMUK used the Topcon X53-x automated machine control software on its excavators as part of the deal.
- Volvo Construction Equipment has expanded its machine control system market demand analysis to encompass a wider variety of wheeled loaders and introduce productivity and serviceability improvements.
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