- 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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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,
In July 2021, Novanta Inc. a global technology partner to medical and advanced technology equipment manufacturers announced the acquisition of Schneider Electric Motion USA for US$ 115 million.
In May 2021, XD Motion announced the launch of its new motion-control robotic camera system, Arcam, for its broadcast application features as a six-axis robotic arm.
In 2020, Motion Industries Inc., a global distributor of maintenance, repair, and operation replacement parts and a wholly owned subsidiary of Genuine Parts Co. announced the acquisition of Applied Machine and Motion Control Inc. in September.
Some of the leading market players operating in the motion control market profiled by Fact.MR are:
YASKAWA Electric Corporation
Rockwell Automation Inc.
Mitsubishi Electric Corporation
Performance Motion Devices Inc.
Microsoft Corporation Inc.
Robert Bosch GmbH
Schneider Electric S.E
More Valuable Insights on Motion ControlMarket
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:
Motion control market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Motion control market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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