Latest News- Motion Control Market: Metal and machinery manufacturing is expected to lead the Application segment during 2024-2028

The Motion Control Market is being driven by Integration of motion control systems with digital drives

The Motion Control Market is expected to grow at a CAGR of 6.03% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5696.1 million. In today's business landscape, the Internet of Things (IoT) market is experiencing exponential growth due to the increasing demand for connected environments. IoT devices, equipped with sensors and actuators, collect and transmit data in real-time to a centralized location. This empowers end-users to make informed decisions, leading to customized solutions and improved operational efficiency. Companies worldwide are embracing IoT to connect their machinery, equipment, and motion control systems, driving a major transformation in the manufacturing sector. OEMs are adopting digital control, wireless communications, low-cost sensors, and remote monitoring technologies to enhance their product offerings and remain competitive in the market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Metal and machinery manufacturing
  • Packaging and labeling
  • Robotics
  • Semiconductor and electronics
  • Others
• Product
  • Electronic devices
  • Actuators
  • AC drives
  • Motion controllers
  • Others
• End-User
  • Electronics & Semiconductor
  • Pharmaceutica
  • Oil & Gas
  • Metal & Mining
  • Food & Beverage.
  • Electronics & Semiconductor
  • Pharmaceutica
  • Oil & Gas
  • Metal & Mining
  • Food & Beverage.
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Integration of motion control systems with digital drives
• Increasing number of fulfillment centers
• Growing automation of processing plants

However, the market also witnesses some limitations, which are as follows:

• Inherent challenges related to use of automated systems
• Volatility in manufacturing costs
• Competitive pricing strategy followed by low-cost Asian manufacturers

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Market Scope in Motion Control Market Research Report

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Research Analysis Overview

The Motion Control Market encompasses various aspects including Integration, Design, and Optimization. It addresses Troubleshooting and provides Training, adhering to Standards and Compliance. Cost, Performance, Reliability, Efficiency, and Safety are key considerations. Servo Drives, such as AC and DC types, and motors like Brushless DC, are essential components. Linear Guides, Ball Screws, and Lead Screws are utilized. Libraries, APIs, Simulation, Testing, Validation, Maintenance, Upgrades, and Consulting services complete the offerings.

Market Research Overview

In the industrial landscape, Motion Control Systems, including Servo Motors, Stepper Motors, Linear Actuators, and Rotary Actuators, fall under the broader category of Industrial Machinery and Supplies and Components. This market segment encompasses businesses manufacturing industrial machinery and components, such as presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the global Industrial Machinery and Supplies and Components market size is determined by the consolidated revenue generated by these manufacturers catering to the industrial sector. Key growth drivers for this market include the increasing industrial output and capacity expansions in process and discrete industries, fueled by the expanding economies of developing nations, particularly in the energy, chemicals and petrochemicals, pulp and paper, and processed food and beverages sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/