Technavio’s market research analysts estimate the global NC market in the industrial machinery sector to grow at a CAGR of 7% between 2016 and 2020. The need to improve the accuracy of products is driving the growth of this market. NC software is being widely adopted by engineers in various industries, to improve the efficiency and accuracy of products, in the design and manufacturing phase. APAC leads the global NC market in the industrial machinery sector, occupying around 40% of the total market share. The increased growth of the automotive and industrial sectors in this region has led to an increase in the demand for industrial machinery and machine tools. China, Japan, South Korea, and India are the major revenue contributors in the APAC region.
The new market research report from Technavio provides a breakdown and analysis of the NC market in the industrial machinery segments by technology.
“Industries are opting for NC software as it improves the lead time of the manufacturing process. It helps manufacturing companies to produce quality products in a shorter duration of time by reducing the product design time, shortening the production planning process, and reducing the time spent on product design and design changes,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research
Engineers are increasingly implementing NC software to improve the efficiency and accuracy of products. The software helps to generate accurate product manufacturing and product design. It enables organizations to develop better quality products with optimum accuracy. Therefore, several manufacturing companies depend on NC software to improve the quality of their products.
The key vendors in the global NC market in the industrial machinery sector include Autodesk, Dassault, Hexagon AB, Siemens and 3D Systems. The market is fragmented due to the presence of a vast number of suppliers. Many vendors have started to enhance their market potential through various innovative strategies and M&A.
A more detailed analysis is available in the Technavio report, Global NC Market in the Industrial Machinery Sector 2016-2020.
We can customize reports by other regions and specific segments upon request.
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