The global machine control system market size was valued at USD 4.1 billion in 2020 and is projected to reach USD 5.6 billion by 2027; it is expected to grow at a CAGR of 6.3 % from 2020 to 2027. The growth of the machine control system industry is majorly driven by the elimination of the need for bulk earthworks set out and survey pegging using machine control systems and the need for faster work and more efficiency during tighter timelines.
Nowadays, delays and cost overruns are the major challenges in infrastructure or construction projects. The kind of equipment used is one of the major factors impacting the completion time of a project. Overall equipment efficiency plays a vital role in ensuring the speed and accuracy of the project execution. If the equipment fails to work at the required/expected rate, it may lead to unpredicted delays. Additionally, errors due to disturbed pegs, misread tape measures, etc. may require reworking on the entire construction project according to the stipulated standards, which leads to project budget overruns and further delay in project completion.
In APAC, the Indian government has now made on-time completion of many projects related to highways mandatory with the use of standard and efficient construction equipment that meet all the required quality parameters. Machine control technologies play an important role in monitoring and controlling construction equipment to ensure optimal performance, resulting in faster quality assurance checks and construction works. Machine control systems help complete projects/jobs at a faster rate and with higher accuracy, as well as have a lower maintenance cost. This is an investment that saves considerable time and a significant amount of money over the lifetime of the machine. With the fierce competition in the construction industry, using the machine control system is extremely beneficial for workers at construction sites in the long run as this system reduces machine and field downtime and assists in the efficient use of resources.
Excavators, dozers, and graders are used in mining and construction equipments. These types of construction equipment are equipped with machine-guided technology to improve productivity, efficiency, and safety in the earthmoving activity. Excavators, dozers, and graders are expensive, and incorporation of machine-guided technology in construction equipment increases the installation and integration costs. Thus, construction and mining operators require high capital for purchasing or renting equipment integrated with machine control technologies. Thus, although machine control technology offers higher accuracy, helps in faster completion of projects, and has a lower maintenance cost, the high initial investment is a hindering factor for market growth.
The construction industry plays a vital role in the economic growth of developing countries. Therefore, several dedicated agencies, such as Construction Industry Development Board (Malaysia), Institute of Construction Training and Development (Sri Lanka), National Construction Council (Tanzania), Building and Construction Authority (Singapore), have been formed in many countries to monitor construction activities and professionalize the functioning of construction sites. To create a safe, high-quality, and sustainable and friendly built environment in the construction industry, cost-effective and time-efficient methods need to be adopted. Thus, machine control systems have a prominent role to play at construction sites in developing countries to ensure safety and quality excellence.
The machine control system players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships and, collaborations, to strengthen their offerings in the market. The major players are Topcon (Japan), Trimble (US), Hexagon (Sweden), MOBA Mobile Automation (Germany), Hemisphere GNSS (US), Komatsu Ltd. (Japan), Caterpillar (US), Volvo Construction Equipment (Sweden), and Eos Positioning Systems (US).
APAC is likely to be the fastest-growing region in the market. The dominance of the market is attributed to the increasing infrastructure, commercial, and industrial projects in emerging countries such as China, Japan, India, and South Korea. The aging infrastructure of these countries, such as bridges, roads, sewage systems, and tunnels, are being constantly modified and worked upon with the help of various machine control equipment, such as excavators, scrapers, paving systems, and dozers. However, the market in APAC is expected to see a dip owing to the halt of both ongoing as well as new infrastructure and construction projects due to COVID-19. With the operations gradually resuming, the demand for machine control systems used in such projects may increase with time in the coming years, along with an economic recovery.
Nowadays, delays and cost overruns are the major challenges in infrastructure or construction projects. The kind of equipment used is one of the major factors impacting the completion time of a project. Overall equipment efficiency plays a vital role in ensuring the speed and accuracy of the project execution. If the equipment fails to work at the required/expected rate, it may lead to unpredicted delays. Additionally, errors due to disturbed pegs, misread tape measures, etc. may require reworking on the entire construction project according to the stipulated standards, which leads to project budget overruns and further delay in project completion.
In APAC, the Indian government has now made on-time completion of many projects related to highways mandatory with the use of standard and efficient construction equipment that meet all the required quality parameters. Machine control technologies play an important role in monitoring and controlling construction equipment to ensure optimal performance, resulting in faster quality assurance checks and construction works. Machine control systems help complete projects/jobs at a faster rate and with higher accuracy, as well as have a lower maintenance cost. This is an investment that saves considerable time and a significant amount of money over the lifetime of the machine. With the fierce competition in the construction industry, using the machine control system is extremely beneficial for workers at construction sites in the long run as this system reduces machine and field downtime and assists in the efficient use of resources.
Excavators, dozers, and graders are used in mining and construction equipments. These types of construction equipment are equipped with machine-guided technology to improve productivity, efficiency, and safety in the earthmoving activity. Excavators, dozers, and graders are expensive, and incorporation of machine-guided technology in construction equipment increases the installation and integration costs. Thus, construction and mining operators require high capital for purchasing or renting equipment integrated with machine control technologies. Thus, although machine control technology offers higher accuracy, helps in faster completion of projects, and has a lower maintenance cost, the high initial investment is a hindering factor for market growth.
The construction industry plays a vital role in the economic growth of developing countries. Therefore, several dedicated agencies, such as Construction Industry Development Board (Malaysia), Institute of Construction Training and Development (Sri Lanka), National Construction Council (Tanzania), Building and Construction Authority (Singapore), have been formed in many countries to monitor construction activities and professionalize the functioning of construction sites. To create a safe, high-quality, and sustainable and friendly built environment in the construction industry, cost-effective and time-efficient methods need to be adopted. Thus, machine control systems have a prominent role to play at construction sites in developing countries to ensure safety and quality excellence.
The machine control system players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships and, collaborations, to strengthen their offerings in the market. The major players are Topcon (Japan), Trimble (US), Hexagon (Sweden), MOBA Mobile Automation (Germany), Hemisphere GNSS (US), Komatsu Ltd. (Japan), Caterpillar (US), Volvo Construction Equipment (Sweden), and Eos Positioning Systems (US).
APAC is likely to be the fastest-growing region in the market. The dominance of the market is attributed to the increasing infrastructure, commercial, and industrial projects in emerging countries such as China, Japan, India, and South Korea. The aging infrastructure of these countries, such as bridges, roads, sewage systems, and tunnels, are being constantly modified and worked upon with the help of various machine control equipment, such as excavators, scrapers, paving systems, and dozers. However, the market in APAC is expected to see a dip owing to the halt of both ongoing as well as new infrastructure and construction projects due to COVID-19. With the operations gradually resuming, the demand for machine control systems used in such projects may increase with time in the coming years, along with an economic recovery.
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