Artificial Intelligence
CNC Machine Tools Market to Hit $117.65 Billion by 2027; Increasing Focus on Reducing Operational Costs by Manufacturers to Boost the Market: Fortune Business Insights™
Pune, Oct. 20, 2020 (GLOBE NEWSWIRE) — The global CNC (Computer Numerical Controls) machine tools market size is projected to reach USD 117.65 billion by 2027, exhibiting a CAGR of 5.3% during the forecast period. Escalating demand for plastic partitions and sneeze shields amid the COVID-19 pandemic will prove beneficial for this market, observes Fortune Business Insights™ in its report, titled “CNC (Computer Numerical Controls) Machine Tools Market Size, Share & COVID-19 Impact Analysis, By Type (Metal Cutting, Metal Forming), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others) and Regional Forecast, 2020-2027”. With the aim to contain the spread of the coronavirus, the need for plastic shields and face guards has heightened since the pandemic began. These items are manufactured on CNC routers such as the M-Series Router made by the US-based CNC machining specialist, C.R. Onsrud. Engineered from plexiglass, polycarbonate, and other transparent polymers, these materials can be customized according to the needs of the business. As retail stores, restaurants, and other commercial spaces begin to reopen, the demand for plastic partitions is expected to soar, creating unprecedented opportunities for manufacturers of CNC machine tools.
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The report states that the global market value stood at USD 82.40 billion in 2019. The main highlights of the report include:
- Granular analysis of the major factors driving and constraining the market;
- Comprehensive insights into the key market players and their strategies;
- Careful examination of the various market segments; and
- In-depth evaluation of the regional developments in the market.
Market Driver
Extensive Advantages of CNC Machines in the Automotive Industry to Aid Growth
The applicability of CNC machine tools in the automotive industry is wide, with automobile manufacturers extensively utilizing this technology to enhance efficiency and productivity in assembly plants. For example, CNC machining can be used to design and engineer many of the vehicle’s critical engine components, which can be fitted into the engine block through this machining technique. The advantages offered by these tools to carmakers are several and this is one of the central factors fueling the CNC machine tools market growth. The most distinct advantage of CNC machining is speed. Operated automatically through computer programs, these tools eschew the need for human intervention in the manufacturing process. As a result, they can work without breaks and can elevate production levels of a plant, especially when producing parts in large volumes.
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Regional Insights
Excellent Growth of the Automotive Industry to Generate Sales Opportunities in Asia Pacific
Asia Pacific dominated the CNC machine tools market share in 2019, having a market size of USD 44.46 billion. The region is expected to continue its dominance during the forecast period on account of the promising growth displayed by the automotive industry in China and India. Moreover, the demand for CNC machines is also growing from other significant industries such as aerospace, transportation, and equipment manufacturing.
The Middle East & Africa region is anticipated to create lucrative opportunities for market players as the oil-rich countries are gradually developing their non-oil business sectors. In North America, the demand for CNC machine tools is likely to remain stable owing to the quick adoption of advanced manufacturing technologies in the region.
Competitive Landscape
Introduction of Sophisticated CNC Solutions by Key Players to Intensify Competition
Development and launch of next-gen, cutting-edge CNC machine products and solutions are the central focus areas for key players in this market. These players are continuously investing in R&D to create enhanced and sophisticated offerings to strengthen their portfolio and further entrench their position in the market.
Industry Developments:
- September 2020: Mitsubishi Electric released its flagship M80 Series CNC in India to capitalize on the country’s new goal of self-reliance. The advanced M80 model includes features such as high speed spindle motors, low inertia, high-accuracy tapping function, and OMR-DD2 (Optimum Machine Response-Direct Drive).
- April 2019: FANUC Corporation partnered with Preferred Networks to develop AI Servo Monitor, a novel artificial intelligence (AI) function that gathers control data from spindle axes and feed axes of the machines with high-speed sampling.
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List of Key Companies Profiled in the CNC Machine Tools Market Report:
- ANCA Group (Melbourne, Australia)
- Mitsubishi Heavy Industries Machine Tool Co., Ltd. (Tokyo, Japan)
- FANUC Corporation (Yamanashi Prefecture, Japan)
- Komatsu Ltd. (Tokyo, Japan)
- Makino (Tokyo, Japan)
- MAG IAS GmbH (Wurttemberg, Germany)
- Amada Machine Tools Co., Ltd (Kanagawa, Japan)
- Doosan Machine Tools Co., Ltd. (Seoul, Korea)
- General Technology Group Dalian Machine Tool Corporation (Dalian, Liaoning Province)
- XYZ Machine Tools (Devon, United Kingdom)
- Okuma Corporation (Aichi, Japan)
- Hyundai WIA (Gyeongsangnam-do, Korea)
- Schuler AG (Goppingen, Germany)
- JTEKT Corporation (Nagoya, Japan)
- Trumpf (Ditzingen, Germany)
- Yamazaki Mazak Corporation (Aichi, Japan)
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Detailed Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- PESTLE Analysis
- Porter’s Five Force Analysis
- Supply Chain Analysis
- Global Market Share Analysis and Matrix, 2019
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Primary Interview Responses
- Annexure / Appendix
- Global CNC (Computer Numerical Controls) Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Type (Value)
- Metal Cutting
- Metal Forming
- By Application (Value)
- Automotive
- General Machinery
- Precision engineering
- Transport Machinery
- Others
- By Region (Value)
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
- By Type (Value)
- Global CNC (Computer Numerical Controls) Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
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Artificial Intelligence
Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’
– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.
The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
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Artificial Intelligence
atNorth Wins ‘Colocation Provider of the Year’ and ‘Digital Infrastructure Project of the Year’ at Industry Award Events
AtNorth recognized at the Electrical Review & Data Centre Review Awards and the Tech Capital Awards.
REYKJAVÍK, Iceland, May 24, 2024 /PRNewswire/ — atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider has today announced further acknowledgement in the industry as it wins two significant awards.
The business has been awarded the `Colocation Provider of the Year’ award at the Electrical Review & Data Centre Review Awards. atNorth has undertaken a significant expansion strategy in recent years, that has ensured that the business can offer high performance infrastructure at speed and scale. This award reflects the business’ growth journey as it continues to innovate and adapt to technological advancements and client requirements.
atNorth has also won the `Digital Infrastructure Project of the Year’ at the Tech Capital Awards for its work with client, Shearwater Geoservices. The global marine imaging and processing leader achieved a 92% reduction in CO2 output and an 85% reduction in cost by moving a portion of its UK HPC infrastructure to one of atNorth’s Icelandic data center sites.
Fueled by the abundant renewable power sources of the Nordics, atNorth`s services deliver performance and efficiency for high density workloads in a sustainable way that enables clients to decarbonize their IT footprint and reduce overall costs.
Winners are voted for by a panel of industry experts for both awarding bodies in a process that aims to recognize the outstanding achievements within the digital infrastructure industry.
“We are thrilled to receive these acknowledgments for our data center services”, says Eyjólfur Magnús Kristinsson, CEO at atNorth. “atNorth has experienced significant growth over the last couple of years and this industry recognition is a testament to our dedication to delivering excellence across the board. We are determined to continue decarbonizing the world’s most demanding workloads in an efficient, sustainable, and cost-effective way.”
The news follows atNorth’s announcements of colocation clients Crusoe, BNP Paribas and Advania. The business has also received recent recognition from multiple other awarding bodies including; the Datacloud Global Awards, the Energy Awards, TechRound’s Sustainability60 and the UK Green Business Awards.
About atNorth
atNorth is a leading Nordic data center services company that offers sustainable, cost-effective, scalable colocation and high-performance computing services trusted by industry-leading organizations. The business acquired leading High-Performance Computing (HPC) provider, Gompute, in 2023 enabling a compelling full stack offering tailored to AI and other critical high-performance workloads.
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, with additional sites to open in Helsinki, Finland and in Denmark in Q4 2024, as well as its tenth site ready for operation in Kouvola, Finland in 2025.
For more information, visit atNorth.com or follow atNorth on LinkedIn or Facebook.
Press Contact:Caroline BruntonKite Hill PR for atNorth+44 (0) 7796 274 [email protected]
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