According to the new
market research report "CNC
Controller Market with COVID-19 Impact by Offering (Hardware and Software
& Services), Machine Type, Axis Type (2-Axis, 3-Axis, 4-Axis, 5-Axis, and
Multi-axis), Sales Channel, Industry, and Region - Global Forecast to 2026", the global
CNC controller market size was valued at USD 2.8 billion in 2021 and is
projected to reach USD 3.4 billion by 2026; it is expected to grow at a CAGR of
3.6% from 2021 to 2026. The key factors fueling the growth of this market
include rising adoption of industrial automation in manufacturing industries
and increasing demand for mass production across various end user industries.
Software
& services offering accounted for largest size of the CNC controller market
in 2020.
The software
offering plays a major role in the overall CNC controller system as modern CNC
systems operate with upgraded software for better performance and the efficient
control of machine operations. Major services such as retrofitting,
maintenance, installation, and reconditioning are provided for the CNC
controller when it is purchased by the end user. Software & services are
significant components that ensure the efficient performance of CNC controllers
and account for a major share of the overall market.
Automotive
industry is expected to hold the largest size of the CNC controller market in
2021.
To ensure enhanced
power consumption and safety, modern automobile manufacturers adopt IoT and V2X
communication technologies which enable vehicles to communicate with smart
traffic signals. Thus, such advancements in automotive manufacturing
technologies and increasing investments by key automotive manufacturers are
some of the factors expected to drive the growth of the market in the
automotive industry during the forecast period.
APAC is
expected to account for the largest share of CNC controller market from 2021 to
2026.
Growth of the market
is majorly driven by the growing manufacturing sector in the region. Continuous
advancements and technological innovations in various industries; economic
development in major economies such as China, Japan, and India; increasing infrastructural
developments in Southeast Asian countries such as Singapore, Thailand, and
Malaysia, among others; and rising foreign investments in this region is
expected to fuel market growth.
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FANUC (Japan),
Siemens (Germany), Mitsubishi Electric (Japan), DMG MORI (Germany), and Haas
Automation (US)., Hurco Companies (US), Okuma (Japan), and Yamazaki Mazak (UK),
among others, are some of the key players in the market.
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