Machine Control System Market Is Booming Globally with Hyundai Construction Equipment Co., Ltd., Hitachi Construction Machinery Co., Ltd., Kobelco Construction Machinery Co., Ltd., J C Bamford Excavators Ltd., Liebherr Group, AB Volvo, Caterpillar

Machine Control System Market is expected to reach USD 10.33 billion growing at a substantial CAGR of 8.67% in the forecast period of 2020-2029. The growth of this market is attributed to rising demand for machine-guided technologies.Machine control system market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated, and global presence. Machine Control System Market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.

Key Market Competitors:

Few of the major competitors currently working in global machine control system market are Hyundai Construction Equipment Co., Ltd., Hitachi Construction Machinery Co., Ltd., Kobelco Construction Machinery Co., Ltd., J C Bamford Excavators Ltd., Liebherr Group, AB Volvo, Caterpillar, Komatsu Ltd., James Fisher and Sons plc, Hemisphere GNSS, Inc.,Trimble Inc., TOPCON CORPORATION and HEXAGON among others.

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Market Definition: Using a geographic information system or global positioning device, the machine control systems are used to accurately locate the earthwork machinery. Computer control systems are used in numerous computer forms, including cold planers, pavers, excavators, rollers, and others. Throughout end-user sectors such as manufacturing, logistics, farming and others, the broader use of computer control systems could be seen.

Machine Control System Market Scope and Market Size

Machine control system market has been segmented on the basis of type, equipment and industry vertical.

On the basis of type, machine control system market is segmented into total stations, global navigation satellite systems, lasers and sensors.

On the basis of equipment, machine control system market is segmented into excavators, loaders, graders, dozers, scrapers and paving systems.

Based on the industry vertical, machine control system market is segmented into infrastructure, industrial, commercial and residential.

Country Level Analysis of Machine Control System Market

On the basis of region, machine control system market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa. Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region. Asia-Pacific region is expected to grow at the highest CAGR in the forecasted period. Asia-Pacific region is expected to dominate the market in the forecasted period.

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The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.

Market Drivers:

Need of speed with efficiency for any work driving the growth of market.
Abolition of need for earthworks set out and survey fastening using machine control systems drives the market growth.
Increasing awareness for Safety concerns related to workers and heavy construction machinery is expected to drive the market growth.

Market Restraints:

High initial investment for start operation is one the major restrain in the market growth.
Lack of technical expertise hindering the market growth.

Key Developments in the Market:

In July 2019, Leica Geosystems AG - Part of Hexagon had launched its next generation of iCON manual total stations, the Leica iCON iCB50 and iCB70. The next generation of Leica iCON manual total stations further propels the industry to move from traditional analogue layout methods to digitalised construction layout techniques. This launch is expected to improve the product portfolio as well as market size of the company.
In October 2018, Topcon introduces new GT total station with speed and accuracy for tunnelling, monitoring applications for Europe. The GT-503M is designed for professionals seeking the versatility of a motorized solution and the benefits of a single-operator robotic system in a dual-operator system. This new system will expand the product portfolio also it increase overall revenue of the company.

Competitive Analysis and Machine Control System Market Share Analysis:

Global Machine Control System Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Machine Control System Market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa. Asia-Pacific is expected to account for largest market size during forecast period.

Key Insights in the report:

Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved

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Research for Markets

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Email: alan.naidu@researchformarkets.com

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This release was published on openPR.