The “Computer Numerical Control (CNC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
Photo by Daniel Smyth on Unsplash
The global computer numerical control (CNC) market reached a value of US$ 75.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 109.4 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Computer numerical control (CNC) refers to the process of automating machines that operate through programmed commands encrypted on a storage medium. It involves generating a computer-aided design (CAD) and then translating it into G-code. After the CAD drawing is loaded in the machine control unit (MCU), an operator runs a test for ensuring its proper positioning and performance.
Some of the manufacturing processes performed by these machines include shaping, grinding, bending, cutting, welding, gluing, drilling, hole punching, etc. Nowadays, CNC machines are widely utilized in the manufacturing of metal and plastic parts.
A significant rise in the demand for large-scale automation has been witnessed in various industries owing to the increasing need for reducing the overall operational costs. This can also be accredited to the requirement of decreasing the manufacturing time as well as the chances of human error.
Apart from this, the evolution of the Internet of Things (IoT) and machine learning technology has resulted in the development of applications which notify the status of the CNC machine to operators/supervisors on their computers as well as smartphones.
Moreover, several governments are supporting the establishment of manufacturing units in their countries, which is further strengthening the market growth. In addition to this, manufacturers are launching new CNC machines that perform multiple operations simultaneously. These machines aid in increasing the flexibility for attendants and minimizing the workforce requirements.
The publisher’s latest report provides a deep insight into the global computer numerical control (CNC) market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.
This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global computer numerical control (CNC) industry in any manner.