CNC Controller Market worth $3.4 billion by 2026 - Exclusive Report by MarketsandMarkets™

CHICAGO, April 19, 2021 /PRNewswire/ -- According to a research report "CNC Controller Market with COVID-19 Impact by Offering (Hardware and Software & Services), Machine Type, Axis Type (2-Axis, 3-Axis, 4-Axis, 5-Axis, and Multi-axis), Sales Channel, Industry, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global CNC Controller Market size was valued at USD 2.8 billion in 2021 and is projected to reach USD 3.4 billion by 2026; it is expected to grow at a CAGR of 3.6% from 2021 to 2026. The key factors fueling the growth of this market include rising adoption of industrial automation in manufacturing industries and increasing demand for mass production across various end user industries.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=133889642

Software & services offering accounted for largest size of the CNC controller market in 2020.

The software offering plays a major role in the overall CNC controller system as modern CNC systems operate with upgraded software for better performance and the efficient control of machine operations. Major services such as retrofitting, maintenance, installation, and reconditioning are provided for the CNC controller when it is purchased by the end user. Software & services are significant components that ensure the efficient performance of CNC controllers and account for a major share of the overall market.

Automotive industry is expected to hold the largest size of the CNC controller market in 2021.

To ensure enhanced power consumption and safety, modern automobile manufacturers adopt IoT and V2X communication technologies which enable vehicles to communicate with smart traffic signals. Thus, such advancements in automotive manufacturing technologies and increasing investments by key automotive manufacturers are some of the factors expected to drive the growth of the market in the automotive industry during the forecast period.

Browse in-depth TOC on "CNC Controller Market"
152 – Tables
58 – Figures
195 – Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=133889642

APAC is expected to account for the largest share of CNC controller market from 2021 to 2026.

Growth of the market is majorly driven by the growing manufacturing sector in the region. Continuous advancements and technological innovations in various industries; economic development in major economies such as China, Japan, and India; increasing infrastructural developments in Southeast Asian countries such as Singapore, Thailand, and Malaysia, among others; and rising foreign investments in this region is expected to fuel market growth.

FANUC(Japan), Siemens (Germany), Mitsubishi Electric (Japan), DMG MORI(Germany), and Haas Automation (US)., Hurco Companies (US), Okuma (Japan), and Yamazaki Mazak (UK), among others, are some of the key players in the market.

Related Reports:

Motion Control Market with COVID-19 Impact by Component (Actuators & Mechanical systems, Motors, Motion Controllers, Drives, Sensor & Feedback Devices, Software & Services), System (Open Loop, Closed Loop), Industry, and Region - Global Forecast to 2025

Industrial Control and Factory Automation Market by Solution (SCADA, PLC, DCS, MES, PLM, PAM, Functional Safety), Component (Industrial Robots, Industrial 3D Printing, Control Valves, Machine Vision, HMI), Industry, and Geography - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight : https://www.marketsandmarkets.com/ResearchInsight/cnc-controller-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source :  https://www.marketsandmarkets.com/PressReleases/cnc-controller.asp

SOURCE MarketsandMarkets