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Manufacturing Technology Insights | Friday, September 16, 2022
The CNC systems market has rebounded with the increase in integrating technology and adopting smart devices to meet the demand for operational efficiency.
FREMONT, CA: After a short period of deceleration, the CNC systems market has rebounded. As a small multi-axis, multi-function, coordinated motion control system used for precision contouring, CNCs are compatible with different materials in various industries.
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The largest CNC customers are machine builders, but end users also purchase CNCs based on different criteria. There is a need for an effective planning guide for CNC system suppliers and new entrants to this industry, offering strategic information to reduce risks in making decisions. It should assist suppliers in their business marketing and development plans and help users, and CNC machinery manufacturers make purchase decisions via an in-depth CNC systems business analysis.
Although the demand for CNC systems comes from the automotive and aerospace sectors, many industrial fields, including woodcutting, healthcare, and food industries, are adopting CNC systems. The market is also observing stable demand from the retrofit segment, as many current users can improve operational efficiency with less capital investment. The CNC market's technical trends include digital twins, communication protocol standardisation, and additive manufacturing. Cloud connections and the ability to link to industrial IoT platforms will be the key drivers in the next few years.
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The growing demand for greater efficiency in complex machining products by industries is expected to impact market growth positively. Additionally, increased demand for high precision, reduced operating costs, and technological advancements in production will influence the CNC technology popularity. The surge in mass product production across industry verticals, including automotive and electronics, contributes to the market's growth. A rise in demand for mass customisation is also accelerating these tools’ uptake. For instance, CNC programmable machine tools provide quick and efficient production of various products in one batch.
Process automation has significantly impacted the machine tool industry. The need for increased service quality, efficiency, and simplicity have increased the inclination toward process automation in the manufacturing industry. Manufacturers worldwide adopt new technologies and products, including various digital technologies such as artificial intelligence (AI) and the Internet of Things (IoT). Many companies have deployed automated inspection systems, including image processing technology, to replace manual inspection.
This increasing adoption of IoT in their production processes results in a surge in demand for real-time information access. This factor improves productivity and safety, spurs production innovation, and reduces downtime costs. The availability of sensors, internet access, and cloud computing is expected to drive the market. In addition, the increasing investment in IoT in manufacturing is driving the global market growth. Today, manufacturers are critically focused on smart device adoption, and surveys indicate that many production processes and equipment have already integrated smart devices. This is due to the increasing pressure for operational efficiency, further accelerating the CNC system market.
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