The global motion control market is predicted to display 7.09% CAGR over the forecast period (2020-2027), as per the latest report by Market Research Future (MRFR). Motion controllers have been integral in industrial automation and be ubiquitous in industrial manufacturing. Sustainable production techniques and changing demands of customers are expected to shape the trajectory of the market.
Market Scope
The global Motion Control Market is likely to prosper owing to adoption of industrial automation methods to expedite production. Motion control systems work in tandem with industrial robots for simplifying processes. Optimum use of resources and efficiency in production schedules can drive the market demand significantly. The high competition in industrial manufacturing has induced the need for automated processes. For instance, the SureServo2 servo systems by Servo has an in-built motion controller that aids in electronic camming, shearing, and others.
The COVID-19 outbreak has severely impacted the motion control market due to deficit in global supply chains and diminishing demand for products. Shortage of raw materials and decline of exports can challenge the market in the coming years.
The advent of Industry 4.0 and its advantages in smart manufacturing can provide a bevy of opportunities for the motion control market. Adherence to latest standards and use of automated equipment to run industries 24/7 may benefit the market.
But high maintenance costs and replacement of legacy equipment can hamper market growth.
Competitive Landscape
The motion control market is supported by mergers and acquisition taking place in the market and presence of key players across many countries. The population growth around the world and increasing demand of motion control market based services and products also support the market growth. However, the motion control market growth can be affected due to high cost of distribution and weak supply chain in some areas. The report covers all such details which will help companies in the motion control market to strengthen their business plan and improve their product portfolio. The motion control market research report also provides company profiles of major companies. The company profile of organizations operating in the motion control market discusses strategies, growth plans, size, revenue, and mergers and acquisition details of top companies in the motion control market. New entrants and established players can plan their strategies based on this data provided in the motion control market research report.
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Market Segmentation
The global motion control market has been segmented based on components, application, industry, and technology. On the basis of application, the market for motion control is segmented based on material handling, inspection, and packaging. Additionally, the market on the basis of industry, is segmented into manufacturing, automotive, and healthcare. The global market for motion control is also covered based on the components segment which is further split into drives, controllers, software, and motors. On the basis of technology, the market for motion control is segmented based on pneumatic, electromechanical actuation, and hydraulic.
Factors like rising demand for industrial automation and business process re-engineering support the motion control market growth. The performance of the motion control market has also been studied for the past and current years. Additionally, the motion control market report provides analysis of these segments. The motion control market segmental analysis provided in the report offers major details about the motion control market performance and future.
Regional Overview
Companies in the motion control market are spread across the world. The motion control market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American motion control market has many companies across the United States, Canada, and Mexico. Europe has companies in the motion control market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the motion control market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The motion control market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the motion control market can be found in the market research report.
Industry News
Via a merger with acquisition firm Social Capital Hedosophia Holdings Corp V, one of a series of companies founded by venture capital investor Chamath Palihapitiya, consumer financial services start-up SoFi is going public. According to the company's announcement, the offer, reported by SoFi , will value the company at $8.65 billion.
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