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CNC Controller Market Size 2021 Analysis
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Summary
A New Market Study, titled “CNC Controller Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
Market Analysis
The CNC controller market is predicted to touch USD 3.8 billion at a 6% CAGR between 2017- 2023 forecast period, as per the recent Market Research Future (MRFR) analysis. CNC or the computer numerical control helps in controlling the actions of the machines as well as their processes. Motion control chip-based, DSP-based, microcontroller-based, and others are the different types of CNC controller products that are widely used in mining, metal, electronics, defense, aerospace, automobile, and healthcare sectors.
Various factors are propelling the global CNC controller industry growth. According to the latest MRFR report, such factors include need for customized mass production, demand for small footprints in factories, burgeoning need for mass production, fall in operating cost, growing use of industrial automation in the manufacturing sector, and the need to save and produce energy worldwide.
On the contrary, high implementation cost, high maintenance cost, and its use may reduce labor resulting in unemployment are factors that may impede the global CNC controller market growth over the forecast period. Besides, the grave impact of the current COVID-19 outbreak is also affecting the CNC controller market share.
Complete Report Details @ https://www.marketresearchfuture.com/reports/cnc-controller-market-3839
Market Segmentation
The MRFR provides an inclusive segmental analysis of the global CNC controller market based on end user, application, axis-type, component, and product.
By product, the CNC controller market is segmented into motion control chip-based, DSP-based, microcontroller-based, and others. Of these, the microcontroller-based segment will lead the market over the forecast period and at the highest CAGR.
By component, the CNC controller market is segmented into motor driver, circuitry protection system, cabling, software, power supply unit, and others. Of these, the motor driver segment will dominate the market over the forecast period. Meanwhile the software segment will grow at the highest CAGR during the forecast period.
By axis-type, the CNC controller market is segmented into multi-axis, five-axis, four-axis, three-axis, and two-axis. Of these, the three-axis segment will have a major share in the market over the forecast period. Meanwhile, the five-axis segment will grow at the highest CAGR over the forecast period.
By application, the CNC controller market is segmented into semi-closed loop control CNC machine tool, open-loop control CNC machine tool, and closed-loop control CNC machine tool. Of these, the closed-loop control CNC machine tool segment will command the largest share in the market over the forecast period. Meanwhile, the semi-closed loop control CNC machine tool segment is predicted to grow at the highest CAGR over the forecast period.
By end user, the CNC controller market is segmented into mining, metal, electronics, defense, aerospace, automobile, and healthcare. Of these, the automobile segment will spearhead the market over the forecast period. Meanwhile, the electronics segment is predicted to grow at the highest CAGR over the forecast period.
Regional Analysis
Based on the region, the global CNC controller market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, the APAC region will dominate the market over the forecast period. Increasing use of industrial automation in Japan, presence of top electronics industry in China, burgeoning demand from defense and automotive sectors, and rising investments in technological developments are adding to the global CNC controller market growth in the region.
The CNC controller market in Europe is predicted to hold the second-largest share over the forecast period. Booming manufacturing industry, growing trend of industrial automation, demand from the automotive industry in Germany, demand for machinery equipment and medical devices, advances in controller capabilities, availability of advanced controllers, and the ability to control multiple axes are adding to the global CNC controller market growth in the region.
Key Players
Key players profiled in the global CNC controller market report include Okuma Corporation (Japan), FANUC Corporation (Japan), Yamazaki Mazak Corporation (Japan), Wuhan Huazhong Numerical Control Co., Ltd. (China), Haas Automation, Inc. (US), Fagor Automation Corporation (US), Hurco Companies Inc (US), DMG Mori Co Ltd (Japan), Bosch Rexroth AG (Germany), Mitsubishi Electric Corporation (Japan), and Siemens AG (Germany).
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