In 2021, the demand for machine control systems was valued at US$ 4 billion, and it is predicted to increase at an annual pace of 8% over the forecast period. As per machine control system market analysis, the growing demand for precision in heavy machinery control and navigation is projected to fuel market expansion.
Machine control systems increase resource utilisation while reducing field and machine downtime. On a building site, heavy equipment failure can result in severe operational delays and financial losses.
Construction site performance is optimised and quality assurance is completed more quickly thanks to the accurate monitoring and control of construction equipment by machine control professionals. Hence, investment in machine control systems is expected to result in time savings, budget overrun elimination, and cost savings associated with machine maintenance, all of which will have an effect on machine control.
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Excavators, dozers, and graders are costly machines, and incorporating machine-guided technology into them raises installation and integration expenses. In addition, the machine control market trends indicate that building and mining companies need a lot of money to buy or rent equipment integrated with machine control technology.
While recent developments in machine control systems provide improved precision, aid in faster project completion, and have reduced maintenance costs, the costly initial outlay is a barrier to market expansion.
“Lockdowns were imposed around the world, halting many existing and prospective projects, affecting consumption for machine control systems and other construction materials. Owing to the lifting of lockdowns and vaccination rollouts, this sector has acquired traction again and is likely to rebound quickly. As a result, the machine control system market trends and forecast are now shifting again, with the demand for machine control systems is predicted to increase consistently over the forecast period.”, opines an FMI analyst.
There is a growing market for machine-guided technology in the Asia Pacific. In the construction sector, cost-effective and time-efficient techniques must provide a secure, elevated, durable, and friendly constructed environment. As a result, machine control systems play a critical role in ensuring efficiency and reliability on building sites in emerging regions.
The machine control system market size is expected to reach the valuation of US$ 6.3 Billion in 2026, growing at a modest CAGR of 8%.
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Key Takeaways
· Over the projected period, the Asia Pacific area is expected to grow the most, with China and India leading the way. Governments in these countries have embarked on initiatives to replace aging infrastructures such as roads, bridges, sewage systems, and tunnels by effectively using the intelligent machine control system market.
· Because of the ever-increasing population and high need for food, the agriculture segment is predicted to grow at a stable CAGR of around 10%. The demand for quick production and enhanced crop quality drives digital control system growth.
· Segmented as per equipment, excavators fully utilize the machine control system market opportunities due to their accuracy productivity than other equipment in construction and excavating operations.
· As per the machine control market report, the construction segment is leading the growth-share due to rising modernization and other infrastructural initiatives conducted by emerging regions.
· The GNSS product segment dominates the market. The high use of GNSS on scrapers, dozers, graders, excavators, and aerial devices is responsible for this high share.
· The emerging trends in the machine control system market state that the second-largest segment, total stations, is predicted to grow at a steady rate. These systems’ ease of deployment and enormous product modification scope is credited with this expansion.
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Competitive Landscape
To enhance their offers in the market, machine control unit companies have used various organic and inorganic growth tactics, such as news releases, product developments, alliances, and collaborations.
· Topcon and Hitachi (HCMUK) collaborated in March 2020 to provide an ‘inventive’ and ‘sophisticated’ machine control for a more effective workflow. HCMUK used the Topcon X53-x automated machine control software on its excavators as part of the deal.
· Volvo Construction Equipment has expanded its machine control system market demand analysis to encompass a wider variety of wheeled loaders and introduce productivity and serviceability improvements.
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