Market Insights
Market Research Future (MRFR), in its current “CNC Controller Market” report, states that growing need for eliminating expensive errors while performing tedious tasks across industries is expected to impel the global CNC controller market at about 6%CAGR across the evaluation period (2017 to 2023). Rapid industrialization and the immediate need for increased productivity are observed as growth inducers for the worldwide CNC Controller Market 2020. MRFR study suggests that the CNC controller market share can touch about USD 3.8 billion by 2023. The inclination towards industrial automation can cater the expansion of the market in the review period.
Key Players:
Some of the prominent key players in the CNC Controller Market Manufacturers; Siemens AG (Germany), Mitsubishi Electric corporation (Japan), Bosch Rexroth AG (Germany), DMG Mori Co Ltd, Hurco Companies, Inc (U.S.), Fagor Automation Corporation (U.S.), Haas Automation, Inc (U.S.), Wuhan Huazhong Numerical Control Co Ltd (China), Yamazaki Mazak Corporation (Japan), FANUC Corporation (Japan), Okuma Corporation (Japan) and many others.
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Regional Analysis
The Asia Pacific CNC controller market is expected to thrive on the growing adoption CNC controller by automobile and the defence sectors. Expansion of the population base is creating the need for the production of automobiles. The increased need for more reliable and safe vehicles can spur the regional growth of the market. In addition, the expeditious expansion of the consumer electronics segment is expected add to the momentum of the regional market. China is expected to contribute significantly to the growth of the CNC controller market in the APAC region. In Europe, the on-going trend of industrial automation is likely to promote the expansion of the market. The EU CNC controller market is likely to hold numerous growth scopes due to the presence of well-established automobile manufacturers. Similar growth factors are observed for the CNC controller market in the North America region. Thus, the overall health of the market is likely to improve through the evaluation period.
Market Segmentation
The CNC controller market’s segmental analysis is based on component, product, application, axis-type, and end-user.
The CNC controller market’s product-based segments are motion control chip, DSP, microcontroller, and others. The microcontroller segment is expected to contribute proactively to the expansion of the market. MRFR reveals that the segment was recorded to thrive at a lucrative CAGR and is expected to maintain the same through the assessment period.
The component-based segments of market are software, power supply unit, circuitry protection system, cabling, motor driver, and others. The motor driver segment can hold the grand share of the market, while the software segment can expand at the highest CAGR in the forecast period.
The axis type-based segments of the market are three-axis, two-axis, five-axis, four-axis, and multi-axis. The three-axis segment, followed by five-axis segment, are likely to make high profits for the global market across the forecast period.
The application-based segments of the market are open-loop control CNC machine tool, closed-loop control CNC machine tool, and semi-closed loop control CNC machine tool. The closed-loop control segment, followed by semi-closed loop segment, is expected to generate high revenue for the market in the evaluation period.
The end-user-based segments are automobile, healthcare, defense, aerospace, metal, electronics, and mining. The automobile segment, followed by the electronics segment, are expected to experience high growth rate through the forecast period.
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