The global machine control system market is growing with a significant rate during the forecasted period. The increasing demand for optimized operations in agriculture, construction, and transportation industries are likely to propel the growth of the market in the years to come.
Global Machine Control System Market: Drivers and Restraints
One of the significant factors that drive the growth of the market is the growing demand for precision and enhanced productivity in the machine control system market. The rising construction projects in non-commercial and commercial sectors in the emerging economies, replacement of regular survey pegs with a positioning system for efficient and precise machine operation are some of the factors that are expected to fuel the growth of the global market for a machine control system in the near future.
However, the high cost of investments over machine control systems for receiving satellite signals are likely to hamper the growth of the machine control system market during the anticipated period.
Global Machine Control System Market: Segmental Analysis
Based on the applications, the global market for the machine control system is segmented into Mining, Construction, Agriculture, and Transportation. Scrapers, Excavators, Graders, and Dozers are the segments of the product type.
Global Machine Control System Market: Key Companies
Some of the major players operating into the global market for machine control system are Prolec, Trimble, Belden, Leica Geosystems (Hexagon), MOBA Mobile Automation, Topcon Corporation, and Caterpillar.
Global Machine Control System Market: Competitive landscape
Trimble is expected to grab a remarkable market share in the years to come. The manufacturers are focusing on the new product development and innovations and also precise after sales services to the clients. This helps the key players to rise their revenue shares and remain competitive in the market.
Q4 Earnings of Trimble, Beat Estimations
Trimble has announced its quarterly earnings of $0.48 per share, by beating the Zacks consensus estimation of $0.46 per share. In the last year, the company’s earnings were $0.39 per share. Quarter fourth report represents earnings with a surprise of 4.35%. In the previous quarter, it was expected that the firm would post its earnings of $0.45 per share by providing a surprise of 8.89%.
During the fourth quarter, the Trimble has surpassed the estimation consensus of earnings per share four times. According to Zacks rank, the company holds #3 for the stock. In the last quarter end, the firm had revenue of $785.50 Mn, by missing the Zacks consensus estimate of 3%. Trimble has beaten the consensus revenues estimate for two times during the fourth quarter.
Global Machine Control System Market: Geographical Analysis
North America (US) is expected to grab a remarkable market share due to growing advancement in the agriculture sector and the increasing construction activities. Europe is likely to show a moderate growth in the global market for machine control system during the forecasted period. Asia Pacific is also expected to grow due to the growing urbanization and industrialization as well as the increasing transportation and construction activities.