The global integrated force controllers market to grow at a CAGR of 5.44% during the period 2017-2021
Global Integrated Force Controllers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.To calculate the market size, the report considers the new installations, sales, value and replacement, and services market.
The latest trend gaining momentum in the market is Increasing use of IIoT. Industrial internet of things is a trend that can be seen among manufacturing and industrial facilities. It helps in improving supervisory functions of a facility. Most of the machinery and sensors are having wireless connectivity options and with the help of IIoT, information from these machinery and sensors can be collected for evaluating, monitoring, and controlling systems. Another major function of IIoT is the ability to remotely control the functions of each machinery and application. Few of the machinery can also be remotely configured with the help of IIoT.
According to the report, one of the major drivers for this market is Miniaturization of force sensors. Force sensors are major components of integrated force controllers and the miniaturization of these force sensors has helped in increasing sensor applications in various machinery and processes. Miniaturization of these sensors has also helped in reducing the cost, which is expected to increase the demand for sensor-based products and control solutions.
Further, the report states that one of the major factors hindering the growth of this market is High investment cost for robotic machinery. The initial investment cost for robotic machinery like fabrication robots is high. End-users need to invest on additional software and hardware components for these robots to work.