Market overview of NC market in industrial machinery sector
Technavio market research analyst predicts the global numerical control (NC) market in the industrial machinery sector to grow at a CAGR of around 7% during the forecast period. The need to improve the accuracy of products is driving the growth of this market. NC software is being widely adopted by engineers in various industries, to improve the efficiency and accuracy of products, in the design and manufacturing phase. Each will have the same set of dimensions and specifications once it is produced using NC.
However, the need for continuous support and maintenance is anticipated to deter the market growth during the forecast period. Some of the vendors in this market are not able to meet the customers expectation regarding continuous maintenance and support, thereby leading to customer dissatisfaction. This is expected to delay the adoption of NC software during the forecast period.
Geographical segmentation of the NC market in industrial machinery sector
APAC accounted for nearly 40% of the market share during 2015. The increased growth of the automotive and industrial sectors in this region has led to an increase in the demand for industrial machinery and machine tools. China, Japan, South Korea, and India are the major revenue contributors in the APAC region. The report predicts the market in this region to reach a market value of around USD 243 million by the end of 2020.
Competitive landscape and key vendors
The global NC market in the industrial machinery sector is fragmented due to the presence of a vast number of suppliers. Many vendors have started to enhance their market potential through various innovative strategies and M&A.
The leading vendors in the market are -
The other prominent vendors of the market include Missler Software and NTT Data.
Key questions answered in the report
What will the market size and the growth rate be in 2019?
What are the key factors driving the NC market in the industrial machinery sector?
What are the key market trends impacting the growth of the NC market in the industrial machinery sector?
What are the challenges to market growth?
Who are the key vendors in the NC market in the industrial machinery sector?
What are the market opportunities and threats faced by the vendors in the NC market in the industrial machinery sector?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the NC market in the industrial machinery sector?
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