Published Date: 3-Feb-2021
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report Global Motion Control Market, published by KBV research, The Global Motion Control Market size is expected to reach $18.1 billion by 2026, rising at a market growth of 4.2% CAGR during the forecast period.
The Closed Loop market dominated the Global Motion Control Market by System 2019. Since the closed-loop systems are automated, and it doesn’t require any human intervention, their adoption rate has been increased. The inputs of the system can be automatically adjusted by a closed-loop system, and it helps in improving the stability of a system. It also increases robustness, reduces system sensitivity, and creates a reliable system without the need for any human intervention. All these factors are leading to increased adoption of a closed-loop system. The Open Loop market would showcase a CAGR of 5.9% during (2020 - 2026).
The Automotive market dominated the Global Motion Control Market by End User 2019. Robots have gained popularity and become a major component of automation and advanced automotive manufacturing trend across the globe. Companies, like Amazon, are also focused to get collaborative robots, and AGVs are gaining attention in the manufacturing industry.
North America is anticipated to hold a considerable market share of motion control market due to the advancement in global machinery production in this region. The growth is mainly accredited to the increasing industrial activity, coupled with the demand for precise and faster motors and drives in order to achieve a higher output of production. The Europe market is estimated to grow at a CAGR of 4% during (2020 - 2026).
Full Report: https://www.kbvresearch.com/motion-control-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Robert Bosch GmbH, Mitsubishi Electric Corporation, Parker-Hannifin Corporation, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Omron Corporation, FANUC Corporation and Yaskawa Electric Corporation.
By End User
Unique Offerings from KBV Research