August 21, 2023 08:20 ET | Source: CMI CMI
Burlingame, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The global Computer Numerical Control (CNC) Machines Market size was valued at US$ 67.48 Billion in 2022, exhibiting a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030, according to a new study conducted by Coherent Market Insights, Inc. The Computer Numerical Control (CNC) machine industry is involved in the manufacturing, design, and distribution of CNC machines. Growing demand for complex parts from wide range of industries is driving Computer Numerical Control (CNC) machine market growth. Moreover, increasing automation in manufacturing industries is again expected to foster market growth. automotive, aerospace, electronics, and consumer goods are increasingly adopting automation to enhance the efficiency, productivity, and quality control of their manufacturing processes. Cnc Manufacturing Process
Key Industry Insights & Findings from the report:
Read full market research report, "Computer Numerical Control Machine Market, By Type (Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, Winding Machines, and Others), And By Geography, Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030", published by Coherent Market Insights.
Key Trends and Analysis of the Global Computer Numerical Control (CNC) Machine Market:
Growing popualirty of cloud-based CNC is projected to shape the market growth positively. Cloud connectivity allow data sharing, remote monitoring, and also remote operation of CNC machines, improving flexibility and collaboration between companies. In April 2020, Zyfra has launched an Internet of Things (IoT) innovation in the form of a cloud-based version of its ‘MDCplus’ machine monitoring system which allows remote monitoring of computerised numerical control (CNC) machines already installed by the company for industry clients in India.
Computer Numerical Control Machine Market Report Coverage
Technological advancements is expected to drive Computer Numerical Control (CNC) machine market growth
Key players are adopting various business growth strategy to expand their product portfolio and develop innovative CNC machines. For instance, in December 2021, Simplex Industrial Solutions and Software, specialized in manufacturing computer numerical control (CNC) machines, launched a new CNC machine factory on an area of 5,000 sqm in the Industrial Zone of the 10th of Ramadan City
Intergration of 3D printing technology in CNC machine is expected to provide lucrative market growth opportunities
Incorporating CNC technology with additive manufacturing (3D printing) allow manufacturer to create hybrid machines that offer the benefits of both techniques. This can ease the production of highly complex and customized parts with improved efficiency.
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