Connect with us

Technology

CNC Solutions Market to Grow by USD 9.24 Billion from 2024-2028, Driven by Increased Use of Servo-Based Systems and AI’s Impact on Market Trends – Technavio

Published

on

NEW YORK, Nov. 5, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global computer numerical control solutions market size is estimated to grow by USD 9.24 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.9% during the forecast period. Increased use of servo-based systems in industries is driving market growth, with a trend towards application of artificial intelligence and system integration in CNC solutions. However, growing second-hand machine sector poses a challenge.Key market players include Delta Electronics Inc., DMG MORI Co. Ltd., FANUC Corp., Haas Automation Inc., HEIDENHAIN, Hurco Companies Inc., KEBA Group AG, Makino Milling Machine Co. Ltd., Micromatic Machine Tools Pvt. Ltd., Minitech Machinery Corp., Mitsubishi Electric Corp., MONDRAGON Corp., NUM AG, Okuma Corp, Robert Bosch GmbH, Rockwell Automation Inc., Sandvik AB, SIEB and MEYER AG, Siemens AG, and Yaskawa Electric Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Computer Numerical Control Solutions Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.9%

Market growth 2024-2028

USD 9240.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.4

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 52%

Key countries

China, US, Germany, Japan, and South Korea

Key companies profiled

Delta Electronics Inc., DMG MORI Co. Ltd., FANUC Corp., Haas Automation Inc., HEIDENHAIN, Hurco Companies Inc., KEBA Group AG, Makino Milling Machine Co. Ltd., Micromatic Machine Tools Pvt. Ltd., Minitech Machinery Corp., Mitsubishi Electric Corp., MONDRAGON Corp., NUM AG, Okuma Corp, Robert Bosch GmbH, Rockwell Automation Inc., Sandvik AB, SIEB and MEYER AG, Siemens AG, and Yaskawa Electric Corp.

Market Driver

Modern Computer Numerical Control (CNC) systems incorporate advanced software for functions such as position, velocity, and acceleration control. Artificial Intelligence (AI) is a key component of these systems, enabling machines to make decisions autonomously, based on data from sensors and measurement equipment. The ability of computers to collect, process, and analyze vast amounts of data has become essential in manufacturing. CNC systems can utilize this data for predictive maintenance, process optimization, and tool selection. Siemens AG’s expansion of its Sinumerik One platform with the new NCU 1740 and PPU 1740, enabling robotic applications, underscores the growing importance of AI in CNC solutions. This development is expected to fuel market growth during the forecast period.

The Computer Numerical Control (CNC) solutions market is experiencing significant growth, driven by trends in 3D and 2D Cams, automated control, and advanced software capabilities. Microcomputers have replaced old hardware, leading to increased precision in machining complex parts for industries like aerospace and defense, automobile, and healthcare. CNC solutions are being integrated with Additive Manufacturing, Machine Learning (ML), and Big Data Solutions to optimize production. Key machinery types include Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, and Welding Machines. Automated manufacturing, including winding machines, is a major trend. Precise machining is crucial for industries requiring high-quality components. Numerical data input, cutting tools, and real-time monitoring are essential features. CNC solutions are transforming industries through Industry 4.0, IoT, and Cybersecurity. Skilled operators are still needed, but AI and advanced software capabilities are enhancing productivity. Energy consumption is a concern, and CNC providers are focusing on energy-efficient solutions. CAD integration and automation are also important. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

• The second-hand machine sector is experiencing significant growth and poses a challenge to the global computer numerical control solutions market. Due to high labor costs and strict pollution laws, several manufacturing industries in the US and Europe have closed, leading to an increased availability of used CNC machines. Asian countries, particularly China, India, Taiwan, Hong Kong, and Vietnam, have become popular destinations for manufacturing activities due to their low labor costs and skilled workforce. These nations are actively purchasing refurbished European automated machinery at lower prices to reduce production costs. Small manufacturers find it challenging to afford new European machines due to market fluctuations. Once reconditioned, these second-hand machines perform as effectively as new ones, making them an attractive alternative for many manufacturers. The expansion of the second-hand machine sector may result in decreased demand for new CNC solutions, negatively impacting the growth of the global market during the forecast period.• The Computer Numerical Control (CNC) solutions market is experiencing significant growth due to the increasing demand for automated manufacturing and precise machining in various industries. CNC milling machines and lathe machines are essential tools for industries like aerospace, electronics, and medical, requiring high precision and consistency. Numerical data input and advanced software capabilities enable real-time monitoring, automation, and data-driven optimizations. Challenges include the semiconductor shortage, cybersecurity, and the need for skilled operators. The integration of artificial intelligence (AI), Industry 4.0, Internet of Things (IoT), and advanced tooling options is crucial for enhancing productivity and adaptive machining. The market also caters to industries like automotive, telecom communication devices, and renewable energy, with multi-axis capabilities, spindle speeds, and real-time monitoring systems. Used CNC machines and simulation software offer cost-effective solutions for smaller businesses. Emerging trends include electric vehicles (EV), medical devices, and turbines, with five-axis mill machines, ultra-precision machines, and automated CNC systems leading the way. Virtual reality and industrial robots are also transforming the CNC landscape, offering new opportunities for innovation. Cloud computing and CNC systems are revolutionizing industries like wind farms, with 6-axis machining and real-time monitoring systems ensuring optimal performance. Overall, the CNC solutions market is a dynamic and evolving landscape, driven by the need for precision, productivity, and innovation.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This computer numerical control solutions market report extensively covers market segmentation by 

Solution 1.1 Servo drives1.2 Servo motors1.3 ControllersEnd-user 2.1 Automotive2.2 Aerospace2.3 Industrial machinery2.4 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Servo drives- Servo drives play a crucial role in enhancing the efficiency and productivity of Computer Numerical Control (CNC) systems. By receiving input from the control system and transmitting output through servo motors, these drives enable smooth motion of machine parts to execute desired tasks. Energy efficiency is a significant advantage, as servo drives decrease overall energy consumption in CNC machines. The global market for computer numerical control solutions is driven by the increasing demand for servo drive replacements in various industries. Technological advancements, such as multi-axis servo drives, offer direct side-mounting in CNC systems, making them a preferred choice over single-axis systems. This shift towards multi-axis drive systems is expected to boost the adoption of servo drives in the computer numerical control solutions market during the forecast period.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Computer Numerical Control (CNC) solutions market encompasses automated manufacturing systems that utilize precise machining techniques with the help of CNC lathes and milling machines. These advanced technologies enable the numerical data input to control cutting tools for producing high-precision parts with consistency and productivity. The market caters to various industries, including medical, aerospace, and electronics, where precision and advanced capabilities are essential. CNC solutions offer multi-axis capabilities, spindle speeds, and advanced tooling options, enabling the production of complex parts. Real-time monitoring systems ensure optimal performance, while artificial intelligence and advanced software capabilities enhance automation and efficiency. Virtual reality and operators’ control further streamline the manufacturing process. Three-dimensional (3D) and two-dimensional (2D) Cams enable the creation of intricate designs. Automated control, microcomputers, and energy consumption are other critical aspects of the CNC solutions market.

Market Research Overview

The Computer Numerical Control (CNC) solutions market encompasses automated manufacturing systems that utilize precise machining through the use of numerical data input. These solutions include milling machines, cutting tools, and advanced software capabilities for real-time monitoring, Industry 4.0, and the Internet of Things (IoT). CNC systems offer multi-axis capabilities, spindle speeds, and advanced tooling options for industries such as aerospace, electronics, medical, and automotive. Precision, consistency, and productivity are key benefits, with automation and artificial intelligence (AI) enabling adaptive machining and data-driven optimizations. The market also faces challenges like semiconductor shortages, the rise of used CNC machines, and cybersecurity concerns. Emerging trends include electric vehicles (EV), medical devices, telecom communication devices, and the integration of simulation software, cloud computing, and industrial robots. CNC systems are essential for manufacturing complex parts in various industries, from CAD and additive manufacturing to turbines, wind farms, and six-axis machining. Machine learning (ML) and big data solutions are also transforming the market, enabling virtual reality, operators control, and three-dimensional (3D) and two-dimensional (2D) cams for automated control. Energy consumption remains a concern, with microcomputers and advanced software optimizing processes to reduce waste and improve efficiency.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

SolutionServo DrivesServo MotorsControllersEnd-userAutomotiveAerospaceIndustrial MachineryOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/cnc-solutions-market-to-grow-by-usd-9-24-billion-from-2024-2028–driven-by-increased-use-of-servo-based-systems-and-ais-impact-on-market-trends—technavio-302295519.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Cineverse Appoints Rey Puentenegra as Vice President, Corporate Controller

Published

on

By

LOS ANGELES, Nov. 5, 2024 /PRNewswire/ — Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, today announced that it has hired Rey Puentenegra as Vice President, Corporate Controller. Leveraging over 20 years of combined experience across the Industry, Audit and Regulatory Sectors, Puentenegra will oversee all financial and accounting functions across Cineverse’s entire business. He will manage day-to-day operations of the accounting department while taking ownership of corporate accounting, regulatory and financial reporting, audit preparation, and the continual development of internal control policies and procedures. Puentenegra’s appointment is effective immediately, and he will report directly to Mark Lindsey, Chief Financial Officer of Cineverse.

For more than two decades, Puentenegra has been responsible for financial and accounting management, SEC reporting and technical accounting, IPO and SPAC consulting, and process systems implementation and optimization across public and private companies, Big 4 accounting firms, and the Public Company Accounting Oversight Board (PCAOB). Prior to joining Cineverse, Puentenegra served as Controller at YOUNGLA, a fitness and lifestyle apparel e-commerce company, where he oversaw the finance and accounting team as well as managed an outside accounting firm and the company’s primary banking relationship. He was responsible for developing and implementing the initial finance operations structure in addition to the company’s Enterprise Resource Planning. Throughout his career, Puentenegra has served in finance and accounting roles for KPMG, PricewaterhouseCoopers (PwC), Reading International, Global Eagle Entertainment, Corporate Finance Group, XOS, and Spatial Genomics. As Inspections Specialist at PCAOB, he inspected the audits of the Big 4 and mid-tier firms in both the U.S. and foreign jurisdictions.

In connection with his joining the Company, Puentenegra received stock appreciation rights (the “SARs”) for 85,000 shares of Cineverse’s Class A Common Stock (the “Common Stock”), having a ten-year term and an exercise price equal to $2.74, and vesting 1/3 on November 4 of each of 2025, 2026 and 2027. The grant of SARs is an inducement grant pursuant to NASDAQ listing Rule 5635(c)(4).

ABOUT CINEVERSE

On a mission to uplift storytellers and entertain fans with the power of technology, Cineverse  (NASDAQ: CNVS) distributes over 71,000 premium films, series, and podcasts. Engaging over 150 million unique monthly users, Cineverse delivers more than one billion minutes of curated content each month – connecting fans with stories that resonate.

With properties like the box office sensation, Terrifier 3, iconic horror destination, Bloody Disgusting, the Bob Ross Channel, women’s entertainment channel Dove, and a leading podcast network, Cineverse is the first stop for audiences seeking authentic and experiential content. From a vibrant lineup of titles and fandom channels, to next-gen advertising offerings and streaming solutions, Cineverse is setting the stage for a new era of entertainment.

Contacts:

For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/cineverse-appoints-rey-puentenegra-as-vice-president-corporate-controller-302296878.html

SOURCE Cineverse Corp.

Continue Reading

Technology

Cboe Global Markets Reports Trading Volume for October 2024

Published

on

By

CHICAGO, Nov. 5, 2024 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today reported October monthly trading volume statistics across its global business lines.

The data sheet “Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report” contains an overview of certain October trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.

Average Daily Trading Volume (ADV) by Month

Year-To-Date

Oct

2024

Oct

2023

%

Chg

Sep
 2024

%

Chg

Oct

2024

Oct

2023

Chg

Multiply-listed options (contracts, k)

10,793

11,230

-3.9 %

10,459

3.2 %

10,610

10,885

-2.5 %

Index options (contracts, k)

3,976

4,534

-12.3 %

4,130

-3.7 %

4,097

3,765

8.8 %

Futures (contracts, k)

187

292

-36.0 %

232

-19.6 %

243

227

6.7 %

U.S. Equities – On-Exchange (matched shares, mn)

1,289

1,376

-6.4 %

1,234

4.4 %

1,360

1,396

-2.6 %

U.S. Equities – Off-Exchange (matched shares, mn)1

77

81

-5.6 %

85

-9.1 %

78

81

-2.8 %

Canadian Equities (matched shares, k)

158,622

137,305

15.5 %

148,628

6.7 %

145,790

134,538

8.4 %

European Equities (€, mn)

10,534

9,277

13.6 %

10,121

4.1 %

9,681

9,498

1.9 %

Cboe Clear Europe Cleared Trades2 (k)

117,528

100,398

17.1 %

102,208

15.0 %

1,017,755

990,488

2.8 %

Cboe Clear Europe Net Settlements2 (k)

1,042

873

19.4 %

943

10.5 %

9,278

8,406

10.4 %

Australian Equities (AUD, mn)

777

719

8.0 %

891

-12.8 %

788

699

12.7 %

Japanese Equities (JPY, bn)

288

196

47.0 %

312

-7.5 %

315

174

80.5 %

Global FX ($, mn)

44,373

47,933

-7.4 %

48,096

-7.7 %

46,805

44,363

5.5 %

1 U.S. Equities – Off-Exchange ATS Block metrics restated to incorporate a tier of sell-side activity from July 2023 and forward, previously excluded from reporting.
2 Cboe Clear Europe figures are totals (not ADV) for the months and years-to-date. Asa of April 2023, data has been restated to reflect both On-Book and Off-Book cleared trades.

October 2024 Trading Volume Highlights

Cboe Europe

Cboe Europe Periodic Auctions reported a record average daily notional value (ADNV) of €2.5 billion, beating the previous record of €2.4 billion in September 2024.Cboe Clear Europe processed 117.5 million client trades in October, its highest monthly volumes in 2024. Additionally, it cleared its first trades on Deutsche Börse, introducing competitive clearing to the German market.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

 

Cboe Media Contacts

   Cboe Analyst Contact

Angela Tu 

Tim Cave

Kenneth Hill, CFA 

+1-646-856-8734 

+44 (0) 7593-506-719

+1-312-786-7559 

atu@cboe.com

tcave@cboe.com

khill@cboe.com

 

CBOE-V

Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor’s®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor’s or Cboe and neither Standard & Poor’s nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.

There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/

Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-reports-trading-volume-for-october-2024-302296940.html

SOURCE Cboe Global Markets, Inc.

Continue Reading

Technology

Patrick Industries to Participate in Upcoming Baird Conference

Published

on

By

ELKHART, Ind., Nov. 5, 2024 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Company”), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in Baird’s 2024 Global Industrial Conference on November 12, 2024.

Andy Nemeth, Chief Executive Officer, and Kip Ellis, President – Powersports, Technology and Housing, will participate in a fireside chat as well as engage in one-on-one meetings with institutional investors and analysts. The conference will be held at the Ritz-Carlton in Chicago.

Please contact Baird for attendance information and additional details. 

About Patrick Industries, Inc. 
Patrick (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 skilled team members throughout the United States. For more information on Patrick, our brands, and products, please visit www.patrickind.com

Forward-Looking Statements  
This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/patrick-industries-to-participate-in-upcoming-baird-conference-302296921.html

SOURCE Patrick Industries, Inc.

Continue Reading

Trending