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Global Integrated Machine Control Systems Market to See CAGR of 7% during 2018-2022
June 11, 2018 | Business WireEstimated reading time: 2 minutes
Technavio analysts forecast the global integrated machine control systems market to grow at a CAGR of more than 7% during the period 2018-2022, according to their latest market research report.
The growing M&A in the construction industry is one of the major trends being witnessed in the global integrated machine control systems market. The construction industry is one of the major end-users of integrated machine control systems. In the base year, the industry accounted for a significant share of the global market and is anticipated to grow significantly during the forecast period. Many companies are focusing on M&A with the objective of expanding their business operations.
Global integrated machine control systems market: Growing benefits of lean automation
As most end-user industries are increasingly automating their processes, the integration of PLC and HMI in machine control systems is resulting in a series of benefits of lean automation solutions in the industrial sector, which is driving the sales of integrated machine control systems. Lean automation is a proven, powerful method to boost efficiencies in production processes.
According to a senior analyst at Technavio for research on automation, “Some of the advantages of lean automation in the industrial sector include facilitating an integrated development environment, eliminating components and wiring, and subsequent reduction in machine construction costs, improving operations by centralizing remote access and administration, and increasing efficiencies and reducing waste through integrated HMI and PLCs.”
Global integrated machine control systems market: APAC to posts highest growth rate
This market research report segments the global integrated machine control systems market into the following end-users (construction industry, agriculture industry, mining industry, waste management industry, and transportation industry) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the five major end-users, the construction industry segment held the largest market share in 2017, contributing to over 21% of the market. The market share occupied by this segment is expected to increase steadily during the forecast period.
APAC has witnessed the maximum number of commercial and industrial projects that are driving the growth of the market in the region. In 2017, integrated machine control systems found sustained adoption in the region, which helped in generating maximum revenue.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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