Global Computer Numerical Control Solutions Market 2019-2023 | Increased Use of Servo-based Systems Drives Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 23, 2018--The global computer numerical control (CNC) solutions market research report by predicts the market to post a CAGR of more than 5% during the period 2019-2023.
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Technavio has released a new market research report on the global computer numerical control solutions market for the period 2019-2023. (Photo: Business Wire)
One of the key drivers for the global computer numerical control solutions market is the increased usage of servo-based systems in industries. A major advantage of servo-based systems is increased productivity, which increases profits and assists businesses to focus on loss control and resource regulation. Companies adopting servo-based systems in the production of products gain a competitive advantage as they can increase productivity and reduce labor costs.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the application of artificial intelligence and system integration as one of the key trends in the global computer numerical control solutions market:
Global computer numerical control solutions market: Application of artificial intelligence and system integration
Modern CNC systems include intelligent software for various functions such as position, velocity, and acceleration control. Artificial intelligence based machines can continuously perform repetitive tasks without human intervention. AI can assist in controlling a process by reacting to sensors in the desired machine and measurement equipment. Additionally, AI analyzes and translates the data from measurements to make necessary decisions related to the concerned process.
“The data for the maintenance of the desired machine can be collected by the user and the machine tool manufacturer by using AI. They can also effectively operate the machine using IoT. Furthermore, AI can help in selecting the appropriate tools for the initial process setup. For instance, it can select an appropriate grinding wheel based on wheel grade and structure by using case-based reasoning,” says a senior analyst at Technavio for research on automation.
Global computer numerical control solutions market: Segmentation analysis
This computer numerical control solutions market analysis report segments the market by end-user (automotive, industrial machinery, aerospace and defense, and others), solution (servo drives, servo motors, and controllers), and geography (the Americas, APAC, and EMEA).
The servo drives segment held the largest computer numerical control solutions market share in 2018, accounting for nearly 37% of the market. This segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with approximately 39% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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