The Global CNC Controller Market, according to a report by Market Research Future (MRFR), is expected to grow to reach a substantial market valuation of USD 3.8 billion by 2023, at a CAGR of 6% during the forecast period of 2017 to 2023.
Drivers and Restraints
The key driving factors influencing the CNC Controller Market growth are the increasing adoption of industrial automation in the manufacturing sector, the ability of CNC to lessen operational cost, and the growing demand for mass production across end-user industry verticals. On the other hand, the requirement of high investment cost for the implementation of CNC machines is restraining the growth of this market.
Some of the prominent key players in the CNC Controller Market; Siemens AG (Germany), Mitsubishi Electric corporation (Japan), Bosch Rexroth AG (Germany), DMG Mori Co Ltd, Hurco Companies, Inc (U.S.), Fagor Automation Corporation (U.S.), Haas Automation, Inc (U.S.), Wuhan Huazhong Numerical Control Co Ltd (China), Yamazaki Mazak Corporation (Japan), FANUC Corporation (Japan), Okuma Corporation (Japan) and many others.
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The CNC controller market has been segmented based on component, product, axis-type, end-user, application, and region.
- By the product, the CNC controller market has been segmented into DSP-based, motion control chip-based, microcontroller-based, and others. The microcontroller-based segment holds the largest market share and is also expected to register the highest CAGR during the review period.
- By the component, the market has been segmented into software, a power supply unit, cabling, motor driver, circuitry protection system, and others. The motor driver segment holds the largest market share while the software segment is expected to register the fastest CAGR over the forecast period.
- By the axis type, the CNC controller market has been segmented into two-axis, four-axis, five-axis, three-axis, and multi-axis. The three-axis segment accounts for the largest market share while the five-axis segment is expected to register the fastest CAGR during the assessment period.
- By the application, the CNC controller market has been segmented closed-loop control CNC machine tool, open-loop control CNC machine tool, and semi-closed loop control CNC machine tool. The closed-loop control CNC machine tool segment holds the largest market share, whereas the semi-closed loop control CNC machine tool segment is expected to register the highest CAGR during the forecast period.
- By the end-user, the CNC controller market has been segmented into automobile, healthcare, aerospace, defense, metal, electronics, and mining. The automobile segment holds the largest market share while the electronics segment is poised to register the highest CAGR over the forecast period.
The global CNC Controller market, based on the region, has been segmented into North America, Asia-Pacific, Europe, and the rest of the world.
North America is assessed as one of the leading regions across the globe, in terms of market share, in CNC Controller market due to the deployment of the five-Axis machines can produce better quality and more dependable results faster and more efficiently than can be accomplished with multiple setups on three or four-axis machines. five-Axis machining is particularly useful for applications where complex parts that have many features applied at various angles and surfaces around the part are being mass-produced.
The Asia-Pacific accounts for the largest market share and is expected to register a faster CAGR during the review period. Some of the factors that are influencing the market growth include higher demand from automotive and defense sectors, growing investments in technological developments, substantial presence of electronics industry in China, and adoption of industrial automation in Japan.
Europe is slated to grow as the fastest-growing market in the CNC controller market, expanding at the highest CAGR owing to the increasing trend of industrial automation, rising manufacturing industry, and increasing demand from the automotive industry in Germany.
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- Industrial automation equipment providers
- Market research and consulting firms
- Original equipment manufacturers
- Associations and industrial bodies
- Component suppliers and distributors
- CNC machines and controllers across industries
- Government bodies
- Semiconductor product designers and fabricators
- Product manufacturers/ developers
- Consultancy firms/advisory firms
- Technology investors
- Research institutes
- System Integrators
- Research/Consultancy firm
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