(MENAFN- America News Hour) In a recently published report, Machine Control System Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Machine Control System Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Machine Control System Market is valued approximately at USD 4.12 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 9.2% over the forecast period 2019-2026. The machine control system is a software that regulates, manages and commands, or directs the behavior of the other devices. Typically, this system is utilized to precisely position earthwork machinery, which is based on 3D design models and GPS systems and assists the machine operators to control the position of the equipment. One of the primary function of machine control systems is to enable accuracy in the location of machinery related to large/heavy control systems. Surging need for accuracy in navigation & control of heavy machinery, safety concerns related to workers & heavy construction machinery, and the need for faster work and better efficiency during tighter timelines are the few factors responsible for high CAGR of the market over the forecast period.
Moreover, increasing modernization in agriculture, transportation, and constructional activities followed by surging urbanization worldwide are few other factor expected to drive the adoption of machine control system around the world. For instance, According to the United Nations Department of Economic and Social Affairs in 2018, it is estimated that 55% of the total world's population lives in urban area and it expected to rise to 68% by 2050. In addition, growing demand for machine guided technologies in developing countries is the major factor likely to create lucrative growth opportunities to the growth of market in the forecast years. However, high initial investment and limited availability of skilled professionals are the few factors anticipated to limit the growth of global Machine Control System market during the forecast period.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
The regional analysis of global Machine Control System Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the advancements in agricultural practices involving precision farming along with rising construction activities in developing countries such as India and China. However, North America is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as established construction sector and high investment capacities would be influencing the growth of the market of North America. For instance, Canada has been applying machine control for new projects in highway construction.
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Major market player included in this report are:
Hexagon AB
Topcon Corporation
Trimble Inc.
Moba Mobile Automation AG
Hemisphere GNSS
James Fisher Prolec
EOS Positioning Systems
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Total Stations
Global Navigation Satellite Systems (GNSS)
Laser
Sensors
By Equipment:
Excavators
Loaders
Graders
Dozers
Others
By Vertical:
Commercial
Industrial
Residential
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Machine Control System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. Machine Control System Market, by Type, 2017-2026 (USD Billion)
1.2.2. Machine Control System Market, by Equipment, 2017-2026 (USD Billion)
1.2.3. Machine Control System Market, by Vertical, 2017-2026 (USD Billion)
1.2.4. Machine Control System Market, by Region, 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Machine Control System Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Machine Control System Market Dynamics
3.1. Machine Control System Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Machine Control System Market: Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Machine Control System Market, by Type
5.1. Market Snapshot
5.2. Global Machine Control System Market by Type, Performance – Potential Analysis
5.3. Global Machine Control System Market Estimates & Forecasts by Type 2016-2026 (USD Billion)
5.4. Machine Control System Market, Sub Segment Analysis
5.4.1. Total Stations
5.4.2. Global Navigation Satellite Systems (GNSS)
5.4.3. Laser
5.4.4. Sensors
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