Northbrook, IL 60062 -- (SBWIRE) -- 09/05/2023 -- The global machine control system market size is projected to grow from USD 5.1 billion in 2023 to USD 7.3 billion by 2028 at a CAGR of 7.4% during the forecast period. The growth of the machine control system market is majorly driven by the safety concerns related to workers and heavy construction machinery and anticipated demand from growing construction industry.
The implementation of machine control systems in heavy construction equipment significantly enhances safety for workers on construction sites. One of the main safety concerns in the heavy construction industry is the risk of accidents and collisions between machinery and workers.
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GNSS is expected to grow at the highest CAGR during the forecast period.
GNSS (Global Navigation Satellite System) is expected to witness the highest CAGR for machine control system industry during the forecast period. GNSS technology offers precise positioning capabilities, enabling machine control systems to accurately locate and control heavy machinery. This level of accuracy is crucial in industries such as construction, agriculture, and mining, where precise positioning is essential for tasks like grading, excavation, or crop management. Furthermore, GNSS systems provide global coverage, allowing machine control systems to operate effectively in various geographical locations. This global reach makes GNSS a versatile and widely applicable technology across industries, driving its adoption and contributing to market growth.
Excavators are expected to account for the largest share of the market during the forecast period.
Excavators are expected to witness largest share during the forecast perios is attributed to the wide use of excavators in various industries such as construction, mining, and infrastructure development. They play a crucial role in tasks like excavation, trenching, grading, and material handling. The versatility and extensive application of excavators across different sectors contribute to their dominant presence in the machine control system market. Furthermore, machine control systems offer significant benefits when integrated with excavators. These systems provide real-time positioning and control, allowing operators to accurately and efficiently perform excavation tasks. Machine control systems enhance the precision and productivity of excavators by providing automated guidance, accurate depth control, and intelligent control features. This integration helps optimize performance, reduce errors, and enhance overall operational efficiency.
The machine control system market in Asia Pacific is projected to grow at the highest CAGR during the forecast period.
Asia Pacific is likely to be the fastest-growing region in the machine control system market. the region is witnessing significant economic growth, accompanied by rapid urbanization and infrastructure development. Countries like China, India, and Southeast Asian nations are investing heavily in construction projects, transportation networks, and smart city initiatives. These developments drive the demand for machine control systems to improve efficiency, productivity, and precision in construction and infrastructure activities. Furthermore, the agricultural sector in the Asia Pacific region is experiencing a shift towards precision agriculture practices. Farmers are adopting technologies like GPS-guided machinery, drones, and sensor-based systems to optimize crop management, increase yield, and reduce resource usage. Machine control systems enable precise guidance and control of agricultural machinery, enhancing productivity and sustainability in the sector.
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Key Market Players
The machine control system companies have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships and, collaborations, to strengthen their offerings in the market. The major players are Topcon (Japan), Trimble Inc. (US), Hexagon AB (Sweden), MOBA Mobile Automation AG (Germany), Hemisphere GNSS, Inc. (US), Komatsu (Japan), Caterpillar (US), and and EOS Positioning Systems, Inc. (US).