Latest Production Technologies Combined with Adoption of IoT, AI and ML Drive Demand for Computer Numerical Control (CNC) Machines

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A new report from Industry Experts Inc, on "Computer Numerical Control (CNC)", reveals that the global market for Computer Numerical Control (CNC) Machines is estimated at US$84.6 billion in 2024 and is likely to maintain a 2024-2030 CAGR of 8.4% in reaching a projected US$137.3 billion by 2030.

The demand for CNC Machines is being driven by a range of factors that include advancements in production technologies, increasing demand for highly precise components that can be produced on a large scale and growing adoption of advanced technologies, such as IoT, AI & machine learning into production processes. The integration of these technologies with CNC machines is bound to prove fruitful in escalating market growth over the coming years.

With an estimated share of about 39% in 2024, Asia-Pacific represents the leading global market for CNC Machines, which is further likely to be the fastest growing, too. A spurt of growth in various sectors, especially automotive and general industrial machinery, are propelling demand for CNC machines in the region. Owing to relatively cheap labor and availability of abundant resources, major industrial manufacturers, including CNC machine OEMs, have established operations in Asia-Pacific, which has contributed to significant growth in the region.

The market for CNC Machines is analyzed in this report on a global basis and the key regions covered include North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa.

CNC Machines global market analyzed in this report with respect to Machine Type – Grinding Machines, Laser Machines, Lathe Machines, Milling Machines, Welding Machines, Winding Machines and Other CNC Machines (Including Drilling, Electrical Discharge & Routing Machines); Number of Axes – 3 Axis, 4 Axis and 5 Axis; and End-Use Sector – Aerospace & Defense, Automotive, Construction Equipment, Energy & Power, General Industrial Machinery, Healthcare & Medical and Others (Including Capital Goods, Electrical & Electronic, Metal & Mining, Precision Engineering and Semiconductor).

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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