CNC Controller Market
Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global CNC Controller Market is estimated to value USD 3.8 billion, with a CAGR of 6% during the assessment tenure from 2017 to 2023. The advantage of a computer control machine is the capability to repeat the process without errors in manufacturing. It plays an essential role in expanding the global CNC Controller Market 2020. It is also used to reduce the cost and waste of manufacturing of small components. With the advent of Industry 4.0, there has been a significant rise in the usage of automation. The introduction of the latest technologies like cloud computing, the Internet of Things (IoT), and manufacturing technology across various segments like construction, automotive, and manufacturing has considerably increased the demand. The increased demand for automation has resulted in an increased demand for mass production. The CNC machines assist the automotive industry by offering speed, efficiency, and reliability. It helps the manufacturers in mass production with quality. On the other hand, the expenses related to maintenance and deployment are likely to obstruct the expansion of market.
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Market Segmentation
The global CNC Controller market can be segregated on the basis of application, product, component, end-user, axis-type, and region. On the basis of application, the global CNC controller market can be classified into an open-loop control CNC machine tool, closed-loop control CNC machine tool, and semi-closed loop control CNC machine tool. On the basis of product, the global CNC controller market can be classified into DSP-based, microcontroller-based, motion control chip-based, and others. On the basis of components, the global CNC controller market can be classified into software, power supply unit, cabling, motor driver, circuitry protection system, and others. On the basis of end-user, the global CNC controller market can be classified into metal, automobile, healthcare, aerospace, electronics, defense, and mining. On the basis of axis-type, the global CNC controller market can be classified into two-axis, three-axis, four-axis, five-axis, and multi-axis. On the basis of region, the global CNC controller market can be classified into Asia-Pacific, Europe, North America, and the Rest of the World (RoW).
Regional Analysis
The geographical analysis of Asia-Pacific, Europe, North America, and the Rest of the World (RoW) has been conducted. As per the analysis by MRFR, the APAC seized the largest market share in 2017 and is likely to record a high CAGR during the review period. The region consists of countries like China and Japan, which are the hub for the electronic industry. Some of the other factors which are responsible for the market augmentation are the increasing demand from defense and automotive sectors and the continuous investment for technological development. On the other hand, as per the analysis, Europe is estimated to be the swiftest developing market in the CNC controller market. Europe is estimated to grow at the highest CAGR owing to the expansion of the manufacturing industry and increasing demand from the automotive industry in Germany.
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Key Players
The forefront players of the global CNC controller market are Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Bosch Rexroth AG (Germany), Hurco Companies Inc (US), DMG Mori Co Ltd (Japan), Fagor Automation Corporation (US), Haas Automation, Inc. (US), Yamazaki Mazak Corporation (Japan), Wuhan Huazhong Numerical Control Co., Ltd. (China), Okuma Corporation (Japan), and FANUC Corporation (Japan). Industry News May 2020 Edelkrone, a USA based company, introduced a new product to which they are referring as “the simplest and fastest way to control your edelkrone wirelessly.” It is a remote control that works with all of their motorized gear.
