Machine Control System Market Anticipated USD 4,001 million in 2019 and is anticipated to grow at a CAGR of 14.1% | Size, share, Report Forecast
The Machine Control System Market was estimated around USD 4,001 million in 2019 and is expected to grow at a CAGR of 14.1% over the forecast period (2020-2027).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/machine-control-systems-market/
The factors driving the growth of Machine Control System Market includes increasing use of machine control systems in highway construction projects, emerging need to upgrade the infrastructure of roads, bridges and sewage systems, Government initiatives promoting digitization across industry verticals and improvements in the living standards. According to the report published by PRS Legislative Research, the budget allocation towards roads and bridges by the Ministry of Road Transport and Highways has increased from INR 45,897 crore in 2019-20 to INR 48,777 crore in 2020-2021, which is expected to boost the Machine Control System Market size in the approaching years. Moreover, technological advancements in machine control systems, rise in the launch of innovative products, growing concerns related to worker's safety and increasing demand for automation and process instrumentation in construction projects, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rapid urbanization, rising disposable incomes and growing population growth rates, are further propelling the Machine Control System Market share.
However, growth of the Machine Control System Market is hindered due to high cost of procuring machine control systems.
The major players operating in the Machine Control System Market are Moba Mobile Automation AG, Hemisphere GNSS, Prolec Ltd., EOS Positioning Systems, Hexagon (Leica Geosystems AG), Topcon Corporation, Trimble Inc., The Liebherr Group, Caterpillar Inc., Komatsu Ltd., and Volvo Construction Equipment, among others.
Based on Type, the Global Navigation Satellite Systems (GNSS) segment is predicted to grow at a significant CAGR during the forecast period
Increasing application of global navigation satellite systems (GNSS) in precision agriculture, ground mapping and unmanned vehicles, is propelling segment's growth.
Based on Equipment, the Paving Systems segment is projected to expand at a remarkable CAGR over the forecast period
Increasing use of paving systems for constructing rail track beds, airports, and highways, is pushing growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Rise in Foreign Direct Investment (FDI) inflows in the construction sector, growing demand for technologically advanced machine control systems, rapid economic growth across, India, China and Indonesia and increasing per capita incomes, are some of the important factors augmenting the market growth in Asia-Pacific region.
In Apr 2019, Leica Geosystems, a part of Hexagon, introduced two machine control solutions MC1 and ConX, to digitalize the construction industry.
In Jan 2019, Topcon Positioning GB partnered with Marubeni-Komatsu, the sole distributor Komatsu construction and mining equipment, to deliver machine control technology, this partnership, will enable Marubeni-Komatsu customers to access full range of Topcon Machine Control Systems which enabled to Marubeni-Komatsu customer for a more efficient workflow across retrofitted systems
Segmentation by Type
Global Navigation Satellite Systems (GNSS)
Segmentation by Equipment
Segmentation by Vertical
Segmentation by Region
Rest of APAC
United States of America
Rest of Europe
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