(EMAILWIRE.COM, November 01, 2018 ) The CNC controller market was valued at USD 2.86 Billion in 2016 and is expected to grow at a CAGR of 3.8% between 2017 and 2023. Increase in the adoption of industrial automation in the manufacturing sector, ability to reduce operating cost, and rising demand for mass production across end-user industries are the key factors driving the growth of the CNC market. The base year considered for the study is 2016, and the forecast period is between 2017 and 2023. The objective of the report is to provide a detailed analysis of the market on the basis of hardware (machine and controller), machine type, axis type, industry, and geography. The report provides detailed information regarding the major factors influencing the growth of the market. The report also provides a detailed overview of the value chain of the market.

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CNC machining center is expected to hold the largest share of the overall controller market in 2017. They are used for a wide range of applications. Machining processes such as milling, drilling, tapping, and boring, which were traditionally done on conventional machine tools, can be done more efficiently with the help of CNC machining centers. Further, it help in continuous production work, owing to which they hold a major share of the overall controller market.

3-axis CNC machines are projected to account for the largest share of the global controller market during the forecast period. The implementation of these machines in the manufacturing of parts improves speed and accuracy of the production process. However, the market for controllers in 5-axis CNC machines is expected to witness higher growth between 2017 and 2023. Controllers are used in 5-axis CNC machines for manufacturing complex machine parts in critical industries such as aerospace and defense. They enable the manufacturing of critical aircraft components more accurately.

The automotive industry is projected to account for the largest share of the overall controller market during the forecast period. CNC controllers play a key role in the development and production of quality automobile components. Innovations in the assembly line methods are welcomed by vehicle manufacturers to enhance quality and increase factory productivity. Furthermore, increasing need for safety and reliability in the aerospace and defense industry has encouraged manufacturers to adopt advanced CNC controllers in machines that are capable of multiaxis movement. This is expected to drive the growth of the market for CNC controllers in the aerospace and defense industry during the forecast period.

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APAC held the largest share of the overall CNC controller market, and the market growth is attributed to the growing manufacturing sector in the region. Furthermore, continuous advancements and technological innovations in various industries; economic development in China, Japan, and India; growing infrastructural developments in other countries in Southeast Asia; and increasing foreign investments in this region drive the market growth. Additionally, the large-scale industrialization and urbanization are fueling the growth of the market in APAC. However, the market in Europe is expected to grow at the highest CAGR during the forecast period owing to continuous technological advancements in the manufacturing sector of the country. Europe has always been an important market for advanced technologies. It presents vast opportunities for the CNC controller market as this region has shown a promising response in terms of adoption of advanced manufacturing technologies such as CNC machines and CNC controllers.

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Requirement of high investment cost for the implementation of CNC machines is a major factor restraining the growth of the CNC market. Key market players, including Bosch Rexroth AG (Germany), DMG MORI CO., LTD. (Japan), Fagor Automation (US), FANUC Corporation (Japan), Haas Automation, Inc. (US), Hurco Companies, Inc. (US), Mitsubishi Electric Corporation (Japan), Okuma Corporation (Japan), Siemens AG (Germany), Wuhan Huazhong Numerical Control Co., Ltd. (China), and Yamazaki Mazak Corporation (Japan), focus on strategies such as product launches, expansions, acquisitions, contracts, agreements, and partnerships to enhance their geographic presence and expand their businesses.

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