Global motion control market to grow 4% annually
Dublin, Ireland − The Global Motion Control Market 2014-2018 report, released Jan. 13, 2013, by Research and Markets, forecasts the global motion control market will grow at a compound annual growth rate (CAGR) of 4.32% over the period...
Dublin, Ireland − The Global Motion Control Market 2014-2018 report, released Jan. 13, 2013, by Research and Markets, forecasts the global motion control market will grow at a compound annual growth rate (CAGR) of 4.32% over the period 2013-2018.
One of the key factors contributing to this growth is the increasing investment in manufacturing industries. The global motion control market has also been witnessing the increased use of motion control systems in robotic applications.
However, the high cost of motion control systems could pose a challenge to the growth of this market, according to the report.
The key vendors dominating the market space are Siemens AG, Rockwell Automation Inc., Yaskawa Electric Corp. and Schneider Electric. Other vendors mentioned in the report are Parker Hannifin Corp,, ABB and Beckholf.
According to the report, one of the major growth drivers in the market is the increasing investment by manufacturing industries, mainly in the semiconductor, automotive and machinery industries.
“At present, many motion control vendors are developing robotic hands for the motion control systems, as there is an increasing demand for this innovation from the OEMs. This demand is witnessed more in industries such as semiconductor, automotive, packaging and assembly. A robotic hand attached to a motion control system effortlessly helps the movement of products from one conveyor to another for enhanced operational productivity. This results in reduced labour utilization, a faster production cycle, and increased efficiency,” said an analyst from the research team.
For more information, visit researchandmarkets.com/research/ddp4mc/global_motion.