Report : Asia-Pacific Multi-Axis Motion Controller Market to 2027- Covid-19 Impact and Regional Analysis by Control Type (Centralized and Decentralized); Network Type (CANopen and EtherCAT); Architecture (Drive-based and PC-based); Applications (Packaging and Labeling, Semiconductor Wafer Inspection, CNC Machining, Medical Devices, and Others)
According to our latest market study on “Asia PacificMulti-Axis Motion ControllerMarket to 2027-- COVID-19 Impact and Analysis- by Control Type (Centralized and Decentralized); Network Type (CANopen and EtherCAT); Architecture (Drive-based and PC-based); Applications (Packaging and Labeling, Semiconductor Wafer Inspection, CNC Machining, Medical Devices, and Others), and Country,” the market was valued at US$ 1.16billion in 2019 and is projected to reach US$ 1.81billion by 2027; it is expected to grow at a CAGR of 5.9% from 2020 to 2027.
The adoption of IoT, connected devices, and artificial intelligence (AI) across various applications is expected to boost the multi axis motion controller market growth during the forecast period. However, the changing technology imposes several challenges in the semiconductor manufacturing process and is anticipated to hinder the market growth. APAC is considered to be one of the global manufacturing hubs with the presence of several semiconductor wafer manufacturing industries. The growing adoption of industrial robotics due to constantly increasing aging population in APAC, especially in Japan and China, is another key factor driving the market. Furthermore, the mounting health concerns among consumers have boosted the consumption of packaged drinking water and fruit juices over carbonated soft drinks. For instance, in 2017, ~170 billion litre of dairy beverages and packaged milk was consumed globally. This augmented the demand for digital packaging and labeling.
The Asian manufacturing sector is known to rapidly adopt the innovative accelerators that include robotics, along with the emerging technology. Since the last few years, the manufacturing spending in APAC has notably grown and is expected to grow further at the highest estimated rate. This dramatic growth in the manufacturing spending and rising adoption of novel technologies are the key factors fueling the demand for multi axis motion controllers.The beverage manufacturers in APAC increasingly focus on the adoption of digital packaging and labeling solutions that permit end users to have access to information related to products using multi axis motion controller software and streamline the process. Thus, it enhances the efficient communication between brands as well as consumers. Hence, the growing consumption of packaged beverages globally is expected to positively impact the multi axis motion controller market growth during the forecast period. Moreover, rapid industrialization in the region, especially in countries such as India, Singapore, and Australia, is expected to bolster the growth of the multi axis motion controller market in the region.
Impact of COVID-19 on APAC Multi-Axis Motion Controller Market
As per the latest WHO Situation Report- 147 dated 15th June 2020, the overall confirmed cases in the Asia Pacific region crossed 6,70,000 with more than 20,000 deaths. Presently, India is the worst affected country with around 3,32,000 confirmed COVID-19 cases and more than 9,500 deaths. After India, Bangladesh, China, Singapore, Indonesia, Philippines, Japan, and South Korea are some other major countries with large number of COVID-19 cases. The shutdown of various manufacturing plants and factories in countries such as China and Japan have affected the production output delivery schedules, and supply of raw materials & electric components in the APAC region as well as on a global level. All these factors are expected to affect the growth of multi axis motion controller market in the APAC region for the coming few quarters. In addition to this, the uncertainty regarding the future outbreak especially in countries such as India and few other Asian countries, where the graph is going upwards may affect the growth of multi axis motion controller market in coming quarters. However, Asia Pacific is a region where the demand for automation solutions is increasing at an impressive pace across industries and thus the adoption of advanced motion control solutions such as digital multi axis motion controllers is also expected to be high in the region over the forecast period.
The report segments the Asia Pacific Multi-Axis Motion Controller market as follows:
By Control Type
By Network Type
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