The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The computer numerical control (CNC) market has experienced strong growth, increasing from $16.27 billion in 2023 to $17.27 billion in 2024, with a compound annual growth rate (CAGR) of 6.1%. This growth is attributed to factors such as manufacturing automation, advancements in precision manufacturing, and increased customization demands. Looking ahead, the market is expected to continue its strong growth, reaching $22.55 billion by 2028, with a CAGR of 6.9%.

Key Driver: Industrial Automation

The increase in industrial automation is expected to drive the growth of the CNC market. CNC machines, integral to automated systems, enhance efficiency and precision, reduce manual intervention, and integrate with advanced technologies like the Internet of Things (IoT) and artificial intelligence (AI). They contribute to flexible manufacturing systems, minimize downtime through predictive maintenance, and align with Industry 4.0 standards in smart factories.

Read The Full Computer Numerical Control Market Report Here:
https://www.thebusinessresearchcompany.com/report/computer-numerical-control-global-market-report

Technological Innovations

Technological advancements are transforming the CNC market, with major companies developing new machines with nanometer axis resolution to improve accuracy and quality. For example, ANCA CNC Machines launched the MX7 ULTRA, a machine designed for manufacturing cutting tools with nanometer axis resolution, ensuring high accuracy and quality.

Recent Acquisition Driving Growth

In September 2021, Sandvik AB acquired CNC Software Inc, a company specializing in CAD/CAM software solutions for manufacturing industries. Through this acquisition, Sandvik strengthened its position in computer-aided manufacturing (CAM) by obtaining the world-class Mastercam software package and a strong market reseller network.

Market Segmentation and Regional Insights

The CNC market is segmented by type, product type, and end-use industry. Asia-Pacific was the largest region in the CNC market in 2023, followed by Europe. Asia-Pacific is expected to continue its growth trajectory, driven by factors such as the rise of additive manufacturing and increased use in small and medium enterprises (SMEs).

Get A Free Sample On The Global Computer Numerical Control Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=8795&type=smp

The Computer Numerical Control Global Market Report 2024  provides an overview of the computer numerical control market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The computer numerical control market forecast analyzes computer numerical control market size, computer numerical control market share, leading competitor and their market positions.

The Table Of Content For The Computer Numerical Control Market Include:

1. Computer Numerical Control Market Executive Summary
2. Computer Numerical Control Market Segments
3. Computer Numerical Control Market Size And Computer Numerical Control Market Growth Rate
4. Key Computer Numerical Control Market Trends
5. Major Computer Numerical Control Market Drivers
……
25. Key Mergers And Acquisitions In The Computer Numerical Control Market
26. Top Computer Numerical Control Companies
27. Computer Numerical Control Market Opportunities And Strategies
28. Computer Numerical Control Market, Conclusions And Recommendations
29. Appendix

Explore Similar Reports From The Business Research Company:

Computer Hardware Global Market Report 2024

Computer Peripheral Equipment Global Market Report 2024

Computer Storage Devices And Servers Global Market Report 2024

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: