The "Machine Control System - Global Market Outlook (2018-2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Machine Control System Market accounted for $4.17 billion in 2018 and is expected to reach $9.99 billion by 2027, growing at a CAGR of 10.2% during the forecast period.
Growing safety concerns associated with workforce and heavy construction equipments need for quicker work and effectiveness during tighter timelines, and growth of construction industry are the factors driving market growth. However, high initial investment may hinder market growth.
By type, the geographic information system (GIS) collectors segment is likely to have a huge demand during the forecast period. GNSS has applications in a variety of fields. It is installed in equipment such as bulldozers, pavers, and other farm machinery to increase productivity and offer situational alertness to the field operators. They help increase the accuracy of machines and are used in task management, data management, and theft detection applications.
Asia Pacific is anticipated to see lucrative growth during the forecast period owing to the advancements in agricultural practices involving precision farming. China is the largest market among all countries in the region. The Chinese government supports the expansion of infrastructural projects which is a major factor that propels the growth of the machine control system market.