ANALYSIS OF MACHINE CONTROL SYSTEM MARKET IN GLOBAL INDUSTRY: TECHNOLOGY, APPLICATIONS, GROWTH AND STATUS 2020-2023

Global Machine Control System Market Research Report, by End User (Agriculture, Construction, Marine), by Type (GNSS, Total Station, Laser Scanner), by Equipment (Excavator, Grader, Dozer, Loader, Scraper) - Forecast till 2023

Market Research Future (MRFR) identifies the following companies as the key players in the machine control system market - ABB Group, Leica Geosystems, Topcon Corporation, Trimble Inc., RIB Software AG, Andritz, Belden Inc., Schneider Electric, and Mitsui Co. among others.

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Market Highlights

According to Market Research Future, Machine Control System market is estimated to generate USD 8 billion market revenue by 2023 growing with 14% CAGR during forecast period 2017 to 2023. Considering the present global machine control systems market scenario, the target market is estimated to have a moderate threat of new entrants, owing to the higher capital-intensive nature of the industry. The demand for machine control systems is expected to increase in constructions, infrastructure planning, mining and marine. This is expected to lead to insufficiency in supply of components soon as the technology is constantly upgrading. It is expected that new players enter the machine control systems market owing to the growing demand from the end-users.

Key Findings

Global Machine Control System market was valued at USD 4 Billion in 2017. The market is projected to reach USD 8 Billion by 2023, expanding at a CAGR of 14.12% over the forecast period.
By type, total stations segment is leading the market in 2017 and is expected to grow with 14% CAGR. Whereas, GNSS is expected to be the fastest growing market mounting with the highest CAGR of 16.10%.
By end-user, the construction industry is expecting high growth in the coming years due to investment by government authorities for the development of advanced infrastructure globally.
Geographically, North America region has been projected to hold the largest market share in global machine control system market followed by Asia Pacific region, while Europe ranks third in the Machine Control System market.
Regional analysis

Geographically, the Machine Control System market in four different regions namely, North America, Europe, Asia Pacific, and Rest of the World. The North American market is further divided into the U.S., Canada, and Mexico while the European market is segmented into Germany, the U.K., France, Spain, Russia, and Rest of the Europe. The Asia Pacific market is sub-divided into China, India, Japan, South Korea, Taiwan, Singapore, Australia, New Zealand, Indonesia, Kazakhstan, and Rest of Asia Pacific.

The machine control system manufacturers comprise mostly the electronic component manufacturers along with software developers. The software developers typically design and develop the software for control system based on the type of machinery it is to be applied. These software developers generally contract with the system assemblers for the procurement of electronic components as any severe increase in the component price could impact margins for software developers adversely. The software developers also must be aligned with the type of component used. Manufactures from China contribute highly to the Asia Pacific production. Apart from China, other prominent countries involved in the production are the U.S., Canada, the U.K, Germany, India, Japan, and South Korea.

In terms of revenue, North America accounted for the largest market share of 40% in 2017, with a market value of USD 1 billion and is projected to grow at CAGR of 12% during the forecast period followed by Europe. Asia Pacific is projected to grow with the fastest growing CAGR during forecast period.

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