Global Advanced Motion Controller Market 2019-2023 | Evolving Opportunities with ABB and Mitsubishi Electric Corporation | Technavio
LONDON--(BUSINESS WIRE)--Jan 8, 2020--
Technavio has been monitoring the global advanced motion controller market since 2014 and the market is poised to grow by USD 331.13 million during 2019-2023, progressing at a CAGR of almost 6% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global advanced motion controller market 2019-2023. (Graphic: Business Wire)
Read the 151-page research report with TOC on “Advanced Motion Controller Market Analysis Report by Type (Advanced multi-axis motion controllers and Advanced single-axis motion controllers), by Application (Machine tools, Semiconductor equipment, Packaging and labeling, Material handling, and Others), and Segment Forecasts, 2019 – 2023.”
The market is driven by the growing adoption of automation in the manufacturing process. In addition, the increasing adoption of IoT in motion control industry is anticipated to positively impact the growth of the advanced motion controller market.
The connectivity between process machines and control units have to be streamlined on high priority. This is because of the rising adoption of single-loop and multi-loop automation solutions in industries. End-user industries have been concentrating on implementing advanced motion controllers with improved and advanced connectivity, which will aid in addressing the data transfer requirements between field devices and supervisory control and data acquisition (SCADA) or other enterprise networks. Thus, the adoption of advanced motion controllers has increased due to the need to address the growing communication requirement between the control elements and automation software.
Increasing emphasis on a connected environment has led OEMs to undergo transformation with respect to the adoption of digital control, wireless communications, low-cost sensors, remote monitoring, and other loT-related technologies. Therefore, the growing adoption of IoT will have a positive impact on the growth of the advanced motion controller market.
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Major Five Advanced Motion Controller Market Companies:
ABB operates its business under various segments such as Electrification Products, Robotics and Motion, Industrial Automation, and Power Grids. The company offers a wide range of advanced motion controller such as NextMove e100 and NextMove ESB-2.
Mitsubishi Electric Corporation
Mitsubishi Electric Corporation operates its business under six segments, which include energy and electric systems, industrial automation systems, information and communication systems, electronic devices, home appliances, and others. The company’s key offerings include MELSEC iQ-R series and MELSEC-Q series.
OMRON Corporation has business operations under various segments, namely industrial automation; electronic and mechanical components; automotive electronic components; social systems, solutions and service; healthcare; and others. The company provides IPC machine controllers, machine controllers, programmable multi-axis controllers, and Omron-PLC-based machine controllers. Some of the products offered include NX1P, NJ3, CK3E, and NX1P2.
Siemens operates its business under nine segments, which include power and gas, energy management, building technologies, mobility, digital factory, process industries and drives, Siemens Healthineers, Siemens Gamesa renewable energy, and Siemens financial services (SFS). The company’s key offerings include SIMOTION C and Simatic S7-1500 T-CPU controller.
YASKAWA ELECTRIC CORPORATION
YASKAWA ELECTRIC CORPORATION operates its businesses under the following segments: motion control, system engineering, robotics, and others. The company’s key offerings in the advanced motion controller market include MPiec Series and MPiec Robotic Series.
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Advanced Motion Controller Type Outlook (Revenue, USD Million, 2019 - 2023)
Advanced Motion Controller Regional Outlook (Revenue, USD Million, 2019 - 2023)
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PUB: 01/08/2020 02:00 AM/DISC: 01/08/2020 02:01 AM