Demand for Motion Control Technology in Gaming Industry to Create US$ 25 Bn Incremental Opportunity by 2026
- Motion Control Sales Poised to Expand by 1.6x as Food & Beverages, Electric, Packaging, and Other Industries Aim for Automation
- Fact.MR's incisive coverage on the global motion control market provides readers with 360-degree overview of the growth trajectory. The study reveals vital information regarding growth drivers, opportunities, and trends across key segments of the market, including component type, end-use, technology, and application over the forthcoming decade.
NEW YORK, Oct. 13, 2021 /PRNewswire/ -- Fact.MR projects the motion control market to exhibit 5% CAGR between 2021 and 2031. Sales of motion control are expected to total US$ 19.5 Bn through 2021 and beyond. Increasing application of motion control systems across diverse end-use industries such as electronics, automotive, and manufacturing will continue to drive the sales.
Historically, the market grew at 4% CAGR during 2016 and 2020. Sales of motion control systems toped US$ 18.6 Bn by 2020-end. Steered by COVID-19 outbreak, the demand for gaming equipment and controllers soar.
With the increasing adoption of gaming equipment and products, adoption of motion control systems is accelerated. As the popularity of gaming products such as Play Station increased, key players increased their focus on integration of advanced technology such as artificial intelligence to introduce new products.
For instance, in June 2021, a leading player in gaming industry, Nintendo Wii launched a new version of Legend of Zelda, which is equipped with advanced motion control systems for better gaming experience.
Increasing demand for automation in manufacturing, automotive, and construction industry also has resulted in high demand for motion controlled industrial equipment for improved efficiency. Hence, market players are integrating motion control systems with cutting-edge technologies such as industrial internet of things (IIoT) to cater the dynamic requirements of various industries.
On the backdrop of this, Fact.MR projects sales of motion control to surpass the valuation of over US$ 30.5 Bn during the forecast period.
"Increasing need for improved efficiency, automation, and precision in manufacturing, automotive, electronics, and construction industries, key players are compelled to adopt advanced technologies such as artificial intelligence, big data analytics, and IIoT to capitalize on this opportunity, creating lucrative revenues over the forecast period," says a Fact.MR analyst.
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Key Takeaways from Motion Control Market Survey
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Driven by the presence of numerous leading players, competition in the market is expected to be remain high. Key players are therefore focusing on new product launches in order to gain competitive edge.
Also, leading players are investing in product development and research activities to establish their strong foothold. Adoption of expansion strategies such as mergers, acquisitions, and collaboration with other key players is on the cards. For instance,
Some of the leading market players operating in the motion control market profiled by Fact.MR are:
More Valuable Insights on Motion Control Market
Fact.MR, in its new report, offers an unbiased analysis of the global motion control market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in motion control market with detailed segmentation:
By Component Type:
By End Use:
Key Questions Covered in the Motion Control Market Report
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