(PRWEB) February 15, 2013
TechNavio's analysts forecast the Global Computer Numerical Control Solutions market to grow at a CAGR of 5.19 percent over the period 2012-2016. One of the key factors contributing to this market growth is the upsurge in the Machine Tool industry. The Global Computer Numerical Control Solutions market has also been witnessing steady demand from the retrofit segment. However, the need for increased investment could pose a challenge to the growth of this market.
TechNavio's report, the Global Computer Numerical Control Solutions Market 2012-2016, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Computer Numerical Control Solutions market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
The key vendors dominating this market space are Fanuc Corp., Mitsubishi Electric Corp., and Siemens AG.
Other vendors mentioned in the report are Bosch Rexroth AG, Heidenhain GmbH, Sieb & Meyer AG, Soft Servo Systems, GSK CNC EQUIPMENT Co. Ltd, and Fagor Automation.
Commenting on the report, an analyst from TechNavio's Engineering team said: ''Computer numerical control (CNC) solutions have many more applications in addition to engineering and automotive applications. Although the demand for CNC solutions mostly comes from the Automotive sector and the Aerospace sector, companies from other industrial sectors have started to investigate the benefits of investing in grinding machines. High-performance CNC solutions are now being adopted by companies in several industrial sectors such as the Woodworking, Jewelry, Healthcare, and Food industries. CNC solutions are used in the Woodworking industry to design furniture and other complex wooden artwork (that includes complex profiling and contours) with much more ease and accuracy than before and in a shorter time span. The usage of these systems has also entered the Food Processing industry. In addition, the adoption of CNC solutions has entered the Jewelry industry to develop high-precision delicately-designed jewelry.''
According to the report, one of the main drivers is the increased need for enhanced path and motion control. Companies across various industries are deploying CNC solutions for developing superior-quality products with increased dimensional accuracy.
Further, the report reveals that one of the major challenges facing this market is the high cost of CNC solutions.
Research and Markets
Laura Wood, Senior Manager.
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716