The global machine control system market is driven by factors such as increase in requirement for precision in heavy equipment control and navigation has led to an upsurge in the demand for machine control systems.
PORTLAND, Ore., Aug. 18, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Machine Control System Market by Type (Laser Scanners, Sensors, Global Navigation Satellite Systems, and Total Stations), End User (Infrastructure, Industrial, Residential, and Commercial), and Equipment (Paving Systems, Graders, Excavators, Loaders, Dozers, and Scrappers): Global Opportunity Analysis and Industry Forecast, 2023-2032 ". According to the report, The global machine control system market size was valued at $4.6 billion in 2022, and is projected to reach $12.2 billion by 2032, growing at a CAGR of 10.6% from 2023 to 2032.
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Prime Determinants of Growth
The global machine control system market is driven by factors such as surge in demand for safety concern associated with workers and heavy construction machinery. In addition, the installation of machine-guided technology on construction equipment fuels the demand for machine control systems. However, the requirement for high initial equipment hampers market growth to a certain extent. Moreover, the surge in demand for 3D modeling and scanning across industries provide lucrative opportunities for the market growth.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2022-2032 |
Base Year | 2022 |
Market Size in 2022 | $4.6 billion |
Market Size in 2032 | $12.2 billion |
CAGR | 10.6 % |
No. of Pages in Report | 421 |
Segments covered | Type, End-User, Equipment, and Region. |
Drivers | The installation of machine-guided technology on particular construction equipment. Surge in demand for safety concern associated with workers and heavy construction machinery |
Opportunities | Rise in demand for 3D modeling and scanning across industries |
Restraints | Requirement for high initial equipment |
Covid-19 Scenario
- The COVID-19 epidemic significantly changed the dynamics of the supply chain, raised demand for e-commerce packaging, and brought attention to health and safety precautions, all of which influenced the machine control system market.
- Many businesses had to swiftly adjust to the growth in e-commerce by developing packaging that can endure the rigours of shipping and handling.
- The pandemic had intensified the attention on sustainable machine control system solutions as people looked for eco-friendly choices.
The Global Navigation Satellite Systems Segment to Maintain its leadership Status Throughout the Forecast Period
Based on type, the global navigation satellite systems segment held the highest market share in 2022, accounting for more than two-fifths of the global machine control system market revenue and is estimated to maintain its leadership status throughout the forecast period, machine control systems incorporate transmitters that track numerous GNSS constellations at the same time. These systems improve location accuracy, availability, and dependability by integrating signals from several systems such as GPS, GLONASS, Galileo, and BeiDou, especially in challenging circumstances with barriers or signal interference. However, the total stations segment is expected to witness the highest CAGR of 11.2% during the forecast period.
The Infrastructure Segment to Maintain its Leadership Status Throughout the Forecast Period
Based on end user, the infrastructure segment held the highest market share in 2022, accounting for more than two-fifths of the global machine control system market and is estimated to maintain its leadership status throughout the forecast period. Machine control systems are widely employed in infrastructure projects' earthmoving and grading activities. They provide precision control and steering of heavy machinery such as bulldozers, excavators, and graders, assuring perfect grading, slope uniformity, and cut/fill balance. However, the industrial segment is expected to witness the highest CAGR of 11.2% during the forecast period.
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The Excavators Segment to Maintain its Leadership Status throughout the Forecast Period
Based on equipment, the excavators segment held the highest market share in 2022, accounting for around one-third of the global machine control system market and is estimated to maintain its leadership status throughout the forecast period. Excavators are increasingly being integrated with GPS and GNSS technology to provide more accurate location and steering. This interface enables real-time locator monitoring, correct excavation within design parameters, and automated machine control based on digital design data.However, the dozerss segment is expected to witness the highest CAGR of 12.5% during the forecast period.
North America to Maintain its Dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly half of the global machine control system market revenue and is likely to dominate the market during the forecast period. The machine control system market in North America has grown significantly, owing to a variety of factors that have propelled the adoption of these systems in construction and earthmoving operations. The rise in desire for greater productivity and efficiency in the construction sector is one of the primary factors that drives the machine control system in North America. However, the Asia-Pacific region is expected to emerge as the fastest-growing region with a CAGR of 11.7% during the forecast period.
Leading Market Players: -
- Topcon Corporation
- Eos Positioning Systems, Inc. (Eos)
- Komatsu Limited
- Hexagon Ab
- Caterpillar Inc.
- Moba Corporation
- Hemisphere Gnss, Inc.
- Trimble Inc.
- Mobile Automation
- Andritz Ag
The report provides a detailed analysis of these key players in the global machine control system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the machine control system market analysis and machine control system market outlook from 2021 to 2031 to identify the prevailing market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global machine control system market trends, key players, market segments, application areas, and market growth strategies.
Machine Control System Market Key Segments:
By Type
- Laser Scanners
- Sensors
- Global Navigation Satellite Systems
- Total Stations
By Equipment
- Paving Systems
- Graders
- Excavators
- Loaders
- Dozers
- Scrappers
By End User
- Infrastructure
- Industrial
- Residential
- Commercial
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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