Categories: Market Research

CNC Controller Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The CNC Controller Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s CNC Controller Global Market Report 2024, The cnc controller market size has grown strongly in recent years. It will grow from $2.82 billion in 2023 to $3.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growing demand in aerospace and defense, demand in automotive manufacturing, increased manufacturing complexity, industrial automation, cost reduction in cnc technology.

The cnc controller market size is expected to see strong growth in the next few years. It will grow to $3.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to rise of computer-aided design (cad) software, miniaturization and micro-machining trends, adoption of 5-axis and multi-axis machining, energy efficiency considerations, increased use in medical device manufacturing. Major trends in the forecast period include advancements in cnc technology, augmented reality (ar) and virtual reality (vr) integration, machine learning for adaptive machining, digital twin technology implementation, ai-powered quality control, sustainable machining practices.

The rising use of industrial automation is expected to propel the growth of the CNC controller market going forward. Industrial automation uses advanced technologies, control systems, and machinery to automate industrial processes and operations. CNC controllers play a vital role in industrial automation, particularly in manufacturing, by controlling and coordinating the movements of machine tools and equipment in a precise and automated manner, such as in machining operations, product prototyping and production, tooling and workpiece management, and automation integration. For instance, in February 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, 23,000 industrial robots are operating in UK factories in 2021, an increase of 6% from the previous year. Therefore, the rising use of industrial automation is driving the growth of the CNC controller market.

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The cnc controller market covered in this report is segmented –

1) By Product: DSP-Based, Motion Control Chip-Based, Microcontroller-Based, Others Product

2) By Component: Hardware, Software, Services

3) By Machine Type: CNC Turning Centre, CNC Machining Centre

4) By Axis Type: 2-Axis, 3-Axis, 4-Axis, 5-Axis, Multiaxis

5) By End User: Aerospace, Automotive, Metals And Mining, Semiconductor And Electronics, Medical Devices, Other End Users

Product innovation is a key trend gaining popularity in the CNC controller market. Major companies operating in the CNC controller market are developing innovative products to sustain their position in the market. For instance, in September 2022, Mitsubishi Electric India Pvt. Ltd., an India-based electrical and electronic equipment company, launched the all-new M800V and M80V CNC controllers. These innovative products include a new high-performance controller with a faster processor and more memory, a high-resolution touchscreen display, a new 3D simulation function that allows users to visualize the machining process before it starts, and a wireless LAN connection to monitor and control the machine remotely. Moreover, it includes energy-saving features, such as a sleep mode that automatically turns off the engine when not in use.

The cnc controller market report table of contents includes: