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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 68.4 Billion
- Forecast CAGR (2021-2026): 7%
- Forecast Market Size (2026): USD 100 Billion
The increasing need for hassle-free automation and time and cost-saving opportunities by the consumers is driving the computer numerical control machines market. Increase in demand in mass production plants also propels the market growth. They are increasingly deployed in mass production plants, owing to their ability to manufacture high precision parts and components. Growth in need for precision and time effectiveness also aids the market demand owing to surge in need for intricate solid parts manufactured with defined finishing along with operational effectiveness is primarily driving the growth of market. Factors like rapid growth in industrialisation and rapid urbanisation, favourable government initiatives enabling manufacturers to invest in the growing market, rising concerns for cutting operational costs, mitigating human error, technological advancement and early adoption of the technology are also contributing to the market growth.
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Industry Definition and Major Segments
Computer numerical control system is a method for automated control of machine tools used to process, transform, or control machines or tools. It includes drills, lathes and 3D printers, among others. It employs an already embedded software system in a microcomputer affixed to the control system. The functions to be performed on the mechanising instruments are guided by numerical control.
By machine types, the market is divided into:
- Lathe Machines
- Milling Machines
- Laser Machines
- Grinding Machines
- Welding Machines
- Winding Machines
On the basis of end use, the industry is divided into:
The global markets of computer numerical control system can be divided into:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Due to surge in demand for real time information access, manufacturers are increasing the adoption of internet of things (IoT) in their production process, resulting in improving productivity, safety, innovation, production, and reducing time cost. The rising investment in IoT in the manufacturing sector is also contributing to the market. The introduction of new features, such as an application that notifies the status of a machine to the supervisors on their smartphones. These technologies reduce the time required for manufacturing the workpieces and the chances of errors. Development of software and applications allow managers to track the activities carried out on the shop floor by the operators as a result of technological advancements. These facilities enable proactive decision-making by the managers and help improve the productivity of the unit.
Key Market Players
The major players in the market are HEIDENHAIN Corporation, Soft Servo Systems, Inc., Bosch Rexroth AG, Mitsubishi Electric Corporation, FANUC Corporation, Siemens, and Haas Automation, Inc, amongst others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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