LONDON–(BUSINESS WIRE)–#advancedmotioncontroller–The new advanced motion controller market research from Technavio indicates negative growth in the short term as the business impact of the COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the advanced motion controller market.
“One of the primary growth drivers for this market is the growing adoption of automation in the manufacturing process,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the advanced motion controller market size to grow by USD 366.71 million during the period 2021-2025.
Advanced Motion Controller Market Segment Highlights for 2020
- The advanced motion controller market is expected to post a year-over-year growth rate of 5.40%.
- Based on the type, the advanced multi-axis motion controllers saw maximum growth in 2020. Motion control systems in programmable multi-axis motion controllers are made up of servo drives, sensors, actuators, gearboxes, motors, software components, and input/output devices.
- The need to connect such machinery, equipment, and motion control systems will drive the adoption of IoT in the motion control industry.
- 46% of the growth will originate from the APAC region.
- Industrial developments and investments in industries such as food and beverages, automotive, electronics and semiconductor, and machine tools will facilitate the advanced motion controller market growth in APAC over the forecast period.
- China, Japan, and South Korea (Republic of Korea) are the key markets for advanced motion controllers in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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- The advanced motion controller market size is expected to accelerate at a CAGR of almost 6% during the forecast period.
- The advanced motion controller market is segmented by the type (Advanced multi-axis and Advanced single-axis), application (Machine tools, Semiconductor equipment, Packaging and labeling, Material handling, and Others), and geography (APAC, Europe, North America, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including ABB Ltd., Danfoss AS, FAULHABER MICROMO LLC, Festo SE & Co. KG, Mitsubishi Electric Corp., Moog Inc., OMRON Corp., Robert Bosch GmbH, Siemens AG, and Yaskawa Electric Corp.
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