Global Machine Control System Market Estimated to Reach USD 6.05 Billion by 2028; Growing at a CAGR of 6.6%

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TheGlobal Machine Control System Marketwas worth USD 4.05 billion in 2020 and is projected to achieve USD 6.05 billion by 2028; growing at aCAGR of 6.6%. The market growth is mainly encouraged by the expulsion of requirements for bulk earthworks taken off and survey pegging using machine control systems which results in the need for faster work and more efficiency during tighter timelines. The worldwide machine system market is driven by a surge in the need for accuracy in navigation and control of heavy machinery across industries.

The construction industry is witnessing unprecedented growth, supported by the growing population, rising urbanization, and economic growth.Further, the growing population also generates high demand for food, which then increases activity within the agriculture sector. The demand for efficiency and swift production will intensify the requirement for machine control systems in agriculture within the coming years. Thus, the agriculture industry’s growth directly fuels the machine system market to an oversized extent. As technological advances permeate different industrial sectors, the adoption of novel innovation will further drive the worldwide machine system market.

The failure of heavy machinery to control at the development site may cause delays in work and end in huge losses in financial terms. Moreover, high initial investments, lack of technical expertise, and decreasing demand for machine systems because of COVID-19 are the factors expected to obstruct the machine control system market growth. The difficulty with maintaining reliability and accuracy in data provided by these systems associated with GNSS technology is projected to challenge the machine system market within the forecast period of 2021-2028. Yet, when used at top functionality, the growing requirement for accuracy on top of things and navigation of heavy machinery is anticipated to spice up the event of the market.

The market is segmented into GNSS, laser scanners, total stations, and airborne on the basis of product. While based on equipment, it is divided into excavators, loaders, paving systems, and graders.Considering user end, the market is further categorized into construction, mining, oil & gas, agriculture, marine, and others.The overall market is mainly segmented into five regions- North America, Europe, Asia Pacific, and Latin America, Near East & Africa.North America could be a leading region within the global machine system market. The dominance of this regional market is attributed to the region’s established construction sector and high investment capacities. For example, Canada has been implementing machine control for brand new projects in highway construction. The Asia Pacific is predicted to register a high rate within the machine system market in the coming years, fueled by escalating construction activities in countries like China and India.

The major strategies followed by the market participants are partnerships and product launches.In 2020,Leica Geosystems (Switzerland), a Hexagon company signed a partnership agreement with Liebherr (Germany) that specializes in the sector of machine control solutions.Notably,Volvo Group (Sweden) and Caterpillar (USA)are the forerunners within the Machine Control Systems Market. Companies like Komatsu (Japan), Topcon Corporation (Japan), Hemisphere GNSS (USA), Trimble (USA), Eos Positioning Systems (USA), MOBA Mobile Automation AG (Germany), and RIB Software SE (Germany)are a number of the key innovators within the market.