The assessment period is anticipated to see a respectable CAGR of 6.5% for the global market for machine control systems. By 2033, the market is anticipated to be worth US$15,436.8 million. The market is expected to bring in US$8,223.6 million in sales in 2023.
In 2021, the demand for machine control systems was valued at US$ 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 minimise field and equipment downtime while maximising resource usage. Heavy equipment failure on a construction site can cause significant operational delays and monetary losses.
Precision monitoring and control of construction equipment by machine control professionals increases building site performance and speeds up quality assurance. As a result, investment in machine control systems is expected to result in time savings, the elimination of budget overruns, and cost reductions associated with machine maintenance, all of which will have an impact on machine control.
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Due to the high cost of excavators, dozers, and graders, adding machine-guided technology to them increases installation and integration costs. Additionally, according to market trends for machine control, mining and building enterprises will require a sizable sum of money to purchase or lease equipment that incorporates machine control technology.
Although recent improvements in machine control systems aid in faster project completion, improve precision, and have lower maintenance costs, the high initial investment 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%.
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.
Key Segments
By Type:
- Total Stations
- Global Navigation Satellite Systems (GNSS)
- Laser Scanners
- Sensors
- Others
By Vertical:
- Infrastructure
- Commercial
- Residential
- Industrial
- Others
By Equipment:
- Excavators
- Loaders
- Graders
- Dozens
- Scrapers
- Paving systems
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Japan
- Western Europe
- Eastern Europe
- Middle East & Africa
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