Motion Control Market Size 27690 Million by 2026 | Valuates Reports
BANGALORE, India, Nov. 19, 2020 /PRNewswire/ -- The Motion Control Market is Segmented by Type (PLC-based, PC-based, Stand-alone), by Application (Aerospace & Defense, Automotive, Electronics & Electrical, Food & Beverage, Medical, Chemical Industry, Other). This is a new Report published on Valuates Reports in Manufacturing Category. It also covers Global & Regional Opportunity Analysis and Industry Forecast to 2026.
The global Motion Control market size is projected to reach USD 27690 Million by 2026, from USD 21190 Million in 2020, at a CAGR of 4.6% during 2021-2026.
The major factors driving the growth of motion control market size include high adoption of advanced and automated processes in the manufacturing sector, safety-enabled productivity in the industry due to strict safety rules imposed by governments, increased demand for industrial robots in manufacturing processes, ease of use and integration of IIoT.
Motion control is considered to be a crucial technical foundation for industrial robots. It is necessary to measure the location of the object precisely in order to control the system operation. The rising demand for industrial robots in the manufacturing sector would help to fuel the demand for the market for motion control. In addition, rising automation also drives the motion control market size by increasing efficiency and return on investment.
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TRENDS INFLUENCING THE MOTION CONTROL MARKET SIZE
Companies around the world are recognizing the importance of the next generation automated process in manufacturing for future sustainability and competitiveness. This increasing emphasis on the next-generation automated process is expected to drive the growth of motion control market size.
In order to satisfy the rising need for greater versatility and optimize the overall performance of equipment, Industry 4.0 is expected to fuel the growth of the motion control market size. The Industry 4.0 definition has grown in Europe and has been spread internationally in the manufacturing sector. The advent of Industrial Revolution 4.0 has resulted in the implementation of automated machinery and equipment, enabling plants to work 24/7.
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MOTION CONTROL MARKET SHARE ANALYSIS
Based on Application, the automotive industry is expected to hold the largest motion control market share. In order to deliver a stronger, cheaper product in less time, automotive manufacturers are updating systems, integrating inspection and networking capabilities, and taking advantage of integration. The global demand for motion control components such as servo drives, controllers, and motors is growing due to increased adoption in the automotive industry to increase the efficiency of the automotive industry's production processes.
North America is expected to hold a considerable motion control market share based on the region due to the developments in global machinery production.
During the forecasted period, APAC is predicted to dominate the global market for motion control. Demand for motion control in the area is growing due to rapid urbanization and increased investment in integrating advanced industrial technologies across the manufacturing industry.
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MOTION CONTROL MARKET SEGMENTS
Motion Control Breakdown Data by Type
Motion Control Breakdown Data by Application
The following players are covered in this report:
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