Evolution of the Internet of Things (IoT) and machine learning technology, has led the growth of computer numerical control (CNC) machine market
Published Date | 2019 August 6
Computer numerical control has transformed the industrial manufacturing and homemade design fields extremely over the past few decades. Evolution of the Internet of Things (IoT) and machine learning technology has led to the growth of applications that notify the status of a machine to operators on their Personal Computers or smartphones. According to BlueWeave Consulting, the global computer numerical control machine market is projected to exhibit significant growth during 2019-2025. They are utilised for a wide range of applications. Machining processes like milling, drilling, tapping, and boring, which were traditionally done on conventional machine tools, can be done more efficiently with the help of CNC machining centers.
CNC machines have already begun to drop in price and become easier to use and more readily available to the general public. The application of CNC systems has continued to expand into further areas like 3D printing, laser cutting, water-jet, wood, plastics, and glass sectors. Cumulative efforts to cut down on expenses incurred in employing operators for individual machinery is projected to increase the CNC machines market over the forecast period. Moreover, increasing demand for mass production plants in several sectors including defense and intelligence, electronics and automobiles are driving the expansion in the computer numerical control (CNC) market.
Among type, CNC Lathe machine segment holds the largest market share of the global computer numerical control (CNC) market during the forecast period
The type segment in the global computer numerical control (CNC) machine market led by lathe machines and projected to lead the market throughout the forecast period due to the increasing availability of multi-axis machine variants. Benefits like the ease of operation and their countless applications are intensifying their adoption across the globe. CNC lathes machine are rapidly replacing some of the older and more traditionally used production lathes due to technological advancement.
The Automotive Industry is expected to be the most lucrative segment of global computer numerical control (CNC) machine market
Rising demand from automobile makers for mass production of work pieces at negligible time and expenses is projected to increase the demand for these products over the forecast period. CNC machining is used for cutting a wide range of interior and exterior components like carpets, door sections, and chassis. The healthcare sector utilizes CNC machines for various purposes such as machining transplant constituents for medical instruments.
Europe is projected to be the fastest growing region of global computer numerical control (CNC) machine market during the forecast period
Global computer numerical control (CNC) machine market by region can be sub-divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to be the most lucrative region for computer numerical control market in the coming years. The growth is majorly attributed to the growing industrialization, government initiatives, and growing demand for an automobile in this region. Europe is the fastest growing region throughout the forecast period.
Global Computer Numerical Control (CNC) Machine Market: Competitive Landscape
Companies such as Amada Machine Tools Co., Ltd., DMG Mori Co., Ltd., FANUC Corporation, Hurco Companies, Inc., Okuma Corporation, JTEKT Corporation, Siemens AG, Takisawa Machine Tool Co. Ltd., Dr. Johannes Heidenhain GmbH, AMS Micromedical LLC, Yamazaki Mazak Corporation, and Haas Automation, Inc. are the leading players of computer numerical control machine market across the globe.
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The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of global computer numerical control (CNC) machine market size & forecast. The report promises to provide state-of-the-art production of computer numerical control machine and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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