Global Computer Numerical Control Solutions Market 2019-2023
About Computer Numerical Control Solutions
A CNC system comprising drivers, motors, controllers and other components is used in automated manufacturing sector.
Technavio’s analysts forecast the global computer numerical control solutions market to grow at a CAGR of 5.19% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global Computer Numerical Control Solutions market for 2019-2023. To calculate the market size, the report considers the revenue generated from the use of CNC solutions across various end-user industries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Computer Numerical Control Solutions Market 2019-2023
Technavio recognizes the following companies as the key players in the global computer numerical control solutions market: FANUC, Mitsubishi Electric, Robert Bosch, Rockwell Automation, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing application of Artificial Intelligence and system integration. Modern CNC systems are comprising of intelligent software for different functions and the use of this technology is expected to gain traction in the market.”
According to the report, one of the major drivers for this market is the rapidly increasing use of servo-based systems in industries. The ability of these systems to respond to the problems helps in prioritizing the workflow and making professionals flexible and ready for emergencies.
Further, the report states that one of the factors hindering the growth of this market is the growing second-hand machine market. The large-scale shift of base for manufacturing activities in emerging economies has led to the emergence of second-hand machine market which is expected to pose a threat to the market.
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