Farukh Kitchlew | Nov 29, 2023 | 0
APAC to Drive $8.13B Expansion in CNC System Market by 2026: Technavio
According to the most recent Technavio market research study, the computer numerical control solutions market is predicted to increase by USD 8.13 billion between 2021 and 2026, at a CAGR of 6.85%. APAC is expected to contribute to 48% of total market growth. Factors such as expanded industrial activity might be related to the region’s market growth. Furthermore, market growth in this area will be quicker.
Furthermore, significant markets for computer numerical control systems include China, Japan, and South Korea. As a result of these factors, the market in the area is expected to develop over the projected period. More information on regional market shares may be found here.
Computer Numerical Control(CNC) Market Expansion:
The rising usage of servo-based systems in industries is a major driving force in expanding the computer numerical control (CNC) solutions market. CNC systems save manufacturing time by eliminating human mistakes. This allows for the regular production of dependable and exact final goods. Furthermore, production processes may be precisely monitored and altered by utilizing these technologies to preserve quality. Moreover, automation is a resource for producing large quantities of components or parts. However, it is ineffective for low-volume manufacturing, as tooling and operational expenses frequently outweigh the entire cost of the final product.
Contribution of Artificial Intelligence and System Integration:
AI and system integration are growing trends that are contributing to industry growth. AI solutions for robotic applications are integrated into CNC machines by market suppliers. Siemens, for example, enhanced its SINUMERIK ONE digital-native control platform offering in December 2021, adding the new numerical control unit (NCU) 1740 hardware to complement the current NCUs 1750 and 1760, as well as the panel processing unit (PPU) 1740. As a result, it is increasingly being used in modular machinery.
Automotive Segment ‘A Significant Driver of Market Growth:
The market is segmented by end-user, solution, and geography. During the projection period, the automotive segment is the major contributor to market growth. Siemens, for example, presented a new-generation CNC system in September 2021 to build electric drive housings for the BMW facility in Austria. In addition, the new-generation SINUMERIK ONE CNC system provides digital solutions to boost productivity in vehicle production plants. As a result, the rising need for digital solutions in the automobile manufacturing industry will substantially increase demand for CNC solutions throughout the forecast period.