LONDON–(BUSINESS WIRE)–Mar 14, 2019–The global advanced motion controller market research report by Technavio predicts the market to post a CAGR of nearly 6% during the period 2019-2023.
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Global advanced motion controller market will post a CAGR of nearly 6% during the period 2019-2023. (Graphic: Business Wire)
A key driver for the global advanced motion controller market is the growing adoption of automation in the manufacturing process. There is an increased need to streamline the connectivity between process machines and control units due to the rising adoption of single-loop and multi-loop automation solutions in industries. End-user industries have been concentrating on implementing advanced motion controllers with improved and advanced connectivity, which will aid in addressing the data transfer requirements between field devices and supervisory control and data acquisition (SCADA) or other enterprise networks. The adoption of advanced motion controllers has increased due to this need to address the growing communication requirement between the control elements and automation software.
As per Technavio, the growing adoption of loT in the motion control industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global advanced motion controller market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global advanced motion controller market: Growing adoption of loT in the motion control industry
The increasing emphasis on a connected environment has made IoT one of the most rapidly growing markets. OEMs have been undergoing a significant transformation owing to the adoption of digital control, wireless communications, low-cost sensors, remote monitoring, and other loT-related technologies. Programmable multi-axis motion controllers are configured with motion control systems to implement flexible automation in factories. Therefore, the growing adoption of IoT will have a positive impact on the growth of the advanced motion controller market.
“The adoption of IoT is improving efficiency, performance, and accessibility of built-in machine intelligence. From big data analytics to smart energy monitoring, machine builders and manufacturers will be on the frontline of IoT adoption in the coming decade, which will boost market growth,” says a senior research analyst at Technavio.
Global advanced motion controller market: Segmentation analysis
This advanced motion controller market analysis report segments the market by type (advanced multi-axis motion controllers and advanced single-axis motion controllers), application (machine tools, semiconductor equipment, packaging and labeling, material handling, and others), and geography (APAC, Europe, MEA, North America, and South America).
The machine tools segment held the largest advanced motion controller market share in 2018. Rising adoption of IloT in the industrial sector and the automation of machine tools will be major factors driving the demand for advanced motion controllers for machine tool applications during the forecast period.
APAC accounted for the highest share of the market in 2018. Increasing per capita consumption of convenience and processed foods will be a significant driver for the packaging and labeling equipment market in this region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 03/14/2019 09:01 AM/DISC: 03/14/2019 09:01 AM
Copyright Business Wire 2019.