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Global CNC Controller Market
Global CNC Controller Market
In accordance with the GMI Research, the CNC Controller Market will encounter a robust growth over the forecast period. This is because of the mounting demand for automotive component with an increase in the yearly production of automotive.
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CNC Controller Market Dynamics
The increasing inclination towards the internet of things (IoT) and cloud computing for efficient production processes in various industries, which include, automotive, consumer electronics will promote the growth of the global CNC controller market. Also, the increase in industrial mechanisation across the international manufacturing organisations will elevate the market growth. Besides this, as per the Global CNC Controller Market Analysis, the industrial revolution 4.0 will further supplement the market growth. For example, Prysmian Group, the leading cable producing companies for power and telecom infrastructures, has approximately more than 105 production plants with major CNC controllers for producing products. The company’s annual turnover touched USD 14.85 Billion in 2019.
The soaring espousal of Ai technology and the aggravating introduction of sophisticated software for improving the production procedure have supplemented the growth of the CNC controller market. In accordance with the report published by the World Manufacturing Organization, AI technology earned a prominent share in the production with yearly expenditure on AI-based hardware, which includes, software, services, and CNC controller touched USD 2.9 Billion in 2018 and will touch 13.2 billion by the end of 2025. Thus, the growing AI evolution with expanding production industries has fuelled the market growth. However, the excessive capital investment required for the purchase of CNC machines will restrain the CNC Controller Market Size.
Product Segment Drivers
Based on the product, motion control chip-based segment is projected to capture the highest share in the global CNC controller market over the forecast period due to its user-friendly operation and congeniality for novel workers. Further, the surging demand across the emerging region due to expansion in manufacturing industry will fuel the Global CNC Controller Market Size.
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