The Worldwide Motion Control Industry is Expected to Reach $20 Billion by 2027 - ResearchAndMarkets.com
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Wednesday, October 19, 2022
Consumer Electronics, IOT (Internet of Things), Technology, Manufacturing, Software, Hardware, Machinery, Adoption, Metal, Risk, Government, Efficiency, Growth, Actuator, Standstill, CAGR, Industrial internet of things, Parker Hannifin, Motion, Industrial, Moog Inc., Software, Sensor, Safety, Machine, Maintenance, Department of Primary Industries and Regional Development, Failure, Torque, USD, Rockwell Automation, Instrumentation, Industry, Engine
The global motion control market size is expected to grow from USD 15.5 billion in 2022 to USD 20.0 billion by 2027, at a CAGR of 5.2% between 2022 and 2027.
Key Points:
- The global motion control market size is expected to grow from USD 15.5 billion in 2022 to USD 20.0 billion by 2027, at a CAGR of 5.2% between 2022 and 2027.
- A major trend that is supporting the growth of the motion control market is the integration of systems with the Industrial Internet of Things (IIoT).
- The motion control market for the pharmaceuticals & cosmetics industry is expected to grow at the highest CAGR between 2022 and 2027.
- The US is the leading market for motion control products as the major players such as Parker-Hannifin Corporation, Rockwell Automation, Altra Industrial Motion Corp., Dover Motion, and Moog Inc. are based in the country.