The machine control system market is projected to grow at a significant rate from 2020 to 2025. The global machine control system market size was valued at USD 4.1 billion in 2020 and is projected to reach USD 5.6 billion by 2025; it is expected to grow at a CAGR of 6.3% from 2020 to 2025. The growth of the machine control system industry is driven mainly by the elimination of the need for bulk earthworks set out and survey pegging using machine control systems and the need for faster work and more efficiency during tighter timelines. COVID-19 has emerged as a global pandemic that has spread over 215 countries worldwide and disrupted various industries around the world.The prominent players across industries have been affected by this pandemic.
The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the machine control system market.
GNSS is expected to grow at the highest CAGR during the forecast period. GNSS, used with various other construction equipment, such as dozers, excavators, and scrapers, significantly helps in efficient surveying and positioning in harsh environments. These systems are largely preferred in a variety of applications, including construction sites, mining plants, or infrastructure projects, due to their high point machine guidance.
Infrastructure vertical is expected to hold the largest share of the machine control system market during the forecast period. The infrastructure vertical is expected to hold the largest share of the machine control system market during the forecast period.In infrastructural projects, machine control solutions are used primarily while laying rail tracks, banking of roads, building tunnels through mountains or underwater, building airports and airstrips, and building bridges, among various other tasks.
Population growth and internal migration in APAC over the past decade have prompted governments to continue to increase expenditure on infrastructure.APAC has also been witnessing a growing number of airports, dams, hydroelectric projects, roads, and bridges.
The Middle East has also seen tremendous growth in infrastructure in the past two decades; the infrastructure spending in the region is projected to continue in the next five years.
APAC is projected to grow at the highest CAGR during the forecast period. The machine control system market in APAC is projected to hold the largest share and grow at the highest CAGR during the forecast period.China is the largest market among all APAC countries.
Advancements in agricultural practices involving precision farming have accelerated the growth of the agriculture industry.The Australian government is enhancing transport systems, and the use of machine-guided solutions in the transportation industry is expected to grow.
Australian rail is among the most modern and sophisticated transport in the world. Rapid urbanization and development and expansion of new cities are the key factors driving the growth of the infrastructure sector, including construction and transportation.
Break-up of the profiles of primary participants: • By Company Type – Tier 1 – 30%, Tier 2 – 30%, and Tier 3 – 40% • By Designation – C-level Executives – 45%, Directors – 30%, and Others – 25% • By Region – North America - 30%, Europe – 40%, APAC – 25%, and RoW – 5%
Major players in the machine control system market include Topcon (Japan), Trimble (US), Hexagon (Switzerland), MOBA Mobile Automation (Germany), Hemisphere GNSS (US), and EOS Positioning Systems (US). The machine control system market has been segmented into type, equipment, vertical, and region. The machine control system market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Reasons to buy the report: • Illustrative segmentation, analysis, and forecast of the market based on type, equipment, vertical, and region have been conducted to give an overall view of the machine control system market. • A value chain analysis has been performed to provide in-depth insights into the machine control system market. • The key drivers, restraints, opportunities, and challenges pertaining to the machine control system market have been detailed in this report. • Detailed information regarding the COVID-19 impact and related updates on the machine control system market has been provided in the report. • The report includes a detailed competitive landscape of the market, along with key players, as well as in-depth analysis of their revenues
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