Demand for Motion Control Technology in Gaming Industry to Create US$ 25 Bn Incremental Opportunity by 2026
Fact.MR projects the motion control market to exhibit 5% CAGR between 2021 and 2031. Sales of motion control are expected to total US$ 19.5 Bn through 2021 and beyond. Increasing application of motion control systems across diverse end-use industries such as electronics, automotive, and manufacturing will continue to drive the sales.
Historically, the market grew at 4% CAGR during 2016 and 2020. Sales of motion control systems toped US$ 18.6 Bn by 2020-end. Steered by COVID-19 outbreak, the demand for gaming equipment and controllers soar.
With the increasing adoption of gaming equipment and products, adoption of motion control systems is accelerated. As the popularity of gaming products such as Play Station increased, key players increased their focus on integration of advanced technology such as artificial intelligence to introduce new products.
For instance, in June 2021, a leading player in gaming industry, Nintendo Wii launched a new version of Legend of Zelda, which is equipped with advanced motion control systems for better gaming experience.
Increasing demand for automation in manufacturing, automotive, and construction industry also has resulted in high demand for motion controlled industrial equipment for improved efficiency. Hence, market players are integrating motion control systems with cutting-edge technologies such as industrial internet of things (IIoT) to cater the dynamic requirements of various industries.
On the backdrop of this, Fact.MR projects sales of motion control to surpass the valuation of over US$ 30.5 Bn during the forecast period.
“Increasing need for improved efficiency, automation, and precision in manufacturing, automotive, electronics, and construction industries, key players are compelled to adopt advanced technologies such as artificial intelligence, big data analytics, and IIoT to capitalize on this opportunity, creating lucrative revenues over the forecast period,” says a Fact.MR analyst.
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Key Takeaways from Motion Control Market Survey
- AC servo segment is expected to dominate in terms of component type, surpassing US$ 2.4 Bn through 2021
- In terms of application, metal cutting segment will register highest revenue growth, exceeding US$ 2 Bn by 2031
- Based on technology type, computer numerical control segment will lead the market growth reaching valuation of over US$ 4 Bn by 2026
- Asia is expected to be one of the most lucrative markets, with China projected to remain at the fore
- Germany is expected to dominate the Europe motion control market
- The U.S. will lead North America motion control market, with the market expanding at 5% CAGR across North America in 2031
Key Drivers
- Increasing adoption of motion control systems within food & beverage and manufacturing industries to comply with stringent safety regulations implemented by various governments will boost the market
- Surging need for automation and robotic tools in the manufacturing and automotive industries will spur the market growth
- Integration of advanced technologies such as industrial internet of things (IIoT) in motion control systems will aid the adoption within construction and automotive industries
Key Restraints
- Due to high replacement and maintenance cost, end users are reluctant to invest in motion-control technology. This might hamper the sales.
- Dearth of skilled workforce in the automation field and low-cost design motion control systems are likely to act as a challenge for market players.
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