LONDON--(BUSINESS WIRE)--According to the latest research report released by Technavio, the global numerical control (NC) in industrial machinery sector is expected to reach close to USD 619 million by 2020.
This report titled ‘Global NC in the Industrial Machinery Market‘, provides an in-depth analysis of the market in terms of revenue and emerging trends. This market study also presents up to date analysis and forecasts for various market segments and all geographical regions.
“The NC market in the Americas in the industrial machinery sector is also expected to reach close to USD 162.6 million by 2020. The US is one of the key countries for this regions, and it also happens to be one of the largest consumers of machine tools worldwide. The automotive industry in the US is a major end-user industry for this market. Over the next four years, growth of the US automotive industry will drive the demand for NC in industrial machinery, and expand the overall market revenue,” said Amrita Choudhury, one of Technavio’s lead industry analysts for product lifecycle management research.
“Other industries including aerospace, electrical and electronics, and general machinery, is also expected to drive the growth of the machine tool market in Americas. Another key contributor for the overall revenue of this market is the growth of the industrial machinery segment in Canada. Thanks to its development, the industrial machinery market generated revenues close to USD 40-50 billion in 2014,” added Amrita.
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Some of the other driving forces behind the growth of the global numerical control (NC) in industrial machinery sector are as follows:
- Reduction in lead time
- Advantages associated with the usage of NC machines
- Need to improve accuracy of product
Reduction in lead time
NC software improves the lead time of the manufacturing process, which in turn creates a demand for this software. The software helps manufacturing companies to produce quality products in a shorter duration by reducing the time taken for product design, production planning, and design changes. NC software reduces the overall time taken to launch any product into the market, while it enhances the quality of manufactured products through processes improvements such as operation planning and product design.
Advantages associated with the usage of NC machines
- The use of NC machines involves only occasional maintenance. These machines provide operational efficiency 24x7, 365 days, without much wear and tear
- Very few people are required to supervise NC machines once they are programmed. This reduces the number of personnel required to run these machines
- Updating NC machines is quite easy since updating the NC software is the only process required
- NC supports simulation, and thereby reduces the need to make prototypes. It saves time and money for the organization implementing it
Need to improve product accuracy
NC software is being widely adopted by engineers across various companies to improve the efficiency and accuracy of products. Each product (even if hundreds or thousands of products are manufactured) will have the same set of dimensions and specifications once it is made using NC. The software helps to generate accurate product manufacturing and product design and enables organizations to develop better quality products with optimum accuracy. Therefore, many manufacturing companies depend on NC software to improve the quality of their products.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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