Blockchain Press Releases
Machine Control System Market to Reach $12.2 billion, Globally, by 2032 at 10.6% CAGR: Allied Market Research
The global machine control system market is driven by factors such as increase in requirement for precision in heavy equipment control and navigation has led to an upsurge in the demand for machine control systems.
PORTLAND, Ore., Aug. 18, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Machine Control System Market by Type (Laser Scanners, Sensors, Global Navigation Satellite Systems, and Total Stations), End User (Infrastructure, Industrial, Residential, and Commercial), and Equipment (Paving Systems, Graders, Excavators, Loaders, Dozers, and Scrappers): Global Opportunity Analysis and Industry Forecast, 2023–2032 “. According to the report, The global machine control system market size was valued at $4.6 billion in 2022, and is projected to reach $12.2 billion by 2032, growing at a CAGR of 10.6% from 2023 to 2032.
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Prime Determinants of Growth
The global machine control system market is driven by factors such as surge in demand for safety concern associated with workers and heavy construction machinery. In addition, the installation of machine-guided technology on construction equipment fuels the demand for machine control systems. However, the requirement for high initial equipment hampers market growth to a certain extent. Moreover, the surge in demand for 3D modeling and scanning across industries provide lucrative opportunities for the market growth.
Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2022–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$4.6 billion |
|
Market Size in 2032 |
$12.2 billion |
|
CAGR |
10.6 % |
|
No. of Pages in Report |
421 |
|
Segments covered |
Type, End-User, Equipment, and Region. |
|
Drivers |
The installation of machine-guided technology on particular construction equipment. Surge in demand for safety concern associated with workers and heavy construction machinery |
|
Opportunities |
Rise in demand for 3D modeling and scanning across industries |
|
Restraints |
Requirement for high initial equipment |
Covid-19 Scenario
- The COVID-19 epidemic significantly changed the dynamics of the supply chain, raised demand for e-commerce packaging, and brought attention to health and safety precautions, all of which influenced the machine control system market.
- Many businesses had to swiftly adjust to the growth in e-commerce by developing packaging that can endure the rigours of shipping and handling.
- The pandemic had intensified the attention on sustainable machine control system solutions as people looked for eco-friendly choices.
The Global Navigation Satellite Systems Segment to Maintain its leadership Status Throughout the Forecast Period
Based on type, the global navigation satellite systems segment held the highest market share in 2022, accounting for more than two-fifths of the global machine control system market revenue and is estimated to maintain its leadership status throughout the forecast period, machine control systems incorporate transmitters that track numerous GNSS constellations at the same time. These systems improve location accuracy, availability, and dependability by integrating signals from several systems such as GPS, GLONASS, Galileo, and BeiDou, especially in challenging circumstances with barriers or signal interference. However, the total stations segment is expected to witness the highest CAGR of 11.2% during the forecast period.
The Infrastructure Segment to Maintain its Leadership Status Throughout the Forecast Period
Based on end user, the infrastructure segment held the highest market share in 2022, accounting for more than two-fifths of the global machine control system market and is estimated to maintain its leadership status throughout the forecast period. Machine control systems are widely employed in infrastructure projects’ earthmoving and grading activities. They provide precision control and steering of heavy machinery such as bulldozers, excavators, and graders, assuring perfect grading, slope uniformity, and cut/fill balance. However, the industrial segment is expected to witness the highest CAGR of 11.2% during the forecast period.
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The Excavators Segment to Maintain its Leadership Status throughout the Forecast Period
Based on equipment, the excavators segment held the highest market share in 2022, accounting for around one-third of the global machine control system market and is estimated to maintain its leadership status throughout the forecast period. Excavators are increasingly being integrated with GPS and GNSS technology to provide more accurate location and steering. This interface enables real-time locator monitoring, correct excavation within design parameters, and automated machine control based on digital design data.However, the dozerss segment is expected to witness the highest CAGR of 12.5% during the forecast period.
North America to Maintain its Dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly half of the global machine control system market revenue and is likely to dominate the market during the forecast period. The machine control system market in North America has grown significantly, owing to a variety of factors that have propelled the adoption of these systems in construction and earthmoving operations. The rise in desire for greater productivity and efficiency in the construction sector is one of the primary factors that drives the machine control system in North America. However, the Asia-Pacific region is expected to emerge as the fastest-growing region with a CAGR of 11.7% during the forecast period.
Leading Market Players: –
- Topcon Corporation
- Eos Positioning Systems, Inc. (Eos)
- Komatsu Limited
- Hexagon Ab
- Caterpillar Inc.
- Moba Corporation
- Hemisphere Gnss, Inc.
- Trimble Inc.
- Mobile Automation
- Andritz Ag
The report provides a detailed analysis of these key players in the global machine control system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the machine control system market analysis and machine control system market outlook from 2021 to 2031 to identify the prevailing market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global machine control system market trends, key players, market segments, application areas, and market growth strategies.
Machine Control System Market Key Segments:
By Type
- Laser Scanners
- Sensors
- Global Navigation Satellite Systems
- Total Stations
By Equipment
- Paving Systems
- Graders
- Excavators
- Loaders
- Dozers
- Scrappers
By End User
- Infrastructure
- Industrial
- Residential
- Commercial
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Blockchain Press Releases
KuCoin Launches KuCoin Pay, a Merchant Solution Leading the Future of Crypto Payments
VICTORIA, Seychelles, Jan. 2, 2025 /PRNewswire/ — In a significant leap forward for digital commerce, KuCoin has unveiled KuCoin Pay, a pioneering merchant solution designed to catalyze business growth by integrating crypto payments into the retail sector. This innovative system bridges the gap between traditional retail and crypto, offering contactless and borderless transactions. Leveraging KuCoin’s robust infrastructure—trusted globally and serving over 37 million+ users – KuCoin Pay is poised to open new opportunities for merchants and users to thrive in the evolving digital economy.
KuCoin Pay is committed to reducing transaction fees and facilitating immediate settlement of crypto payments, simplifying the process for businesses to manage transactions efficiently. The platform supports an extensive range of cryptocurrencies and blockchain networks, significantly broadening the global reach of payments.
The process for merchants is straightforward: integrate KuCoin Pay into their payment systems, allowing customers to complete purchases through KuCoin by scanning a QR code or via the KuCoin app. This integration ensures a frictionless checkout experience, fostering greater consumer confidence and satisfaction.
Additionally, KuCoin Pay is integrated within the KuCoin app, enabling businesses to tap into KuCoin’s extensive user base while simplifying the buying process for everyday items for users. Daily requests such as gift cards and mobile top-ups can be done seamlessly, further promoting widespread crypto adoption.
KuCoin Pay represents a major milestone in driving the mainstream adoption of crypto and marks a pivotal step in KuCoin’s ongoing commitment to enriching the blockchain ecosystem. For more information on KuCoin Pay and how it can transform your business, please visit the KuCoin Pay website.
About KuCoin
Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.
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Blockchain Press Releases
KuCoin Advances the “Menstrual Equity Project”, Benefiting 4,000 Women in the Bahamas
NASSAU, Bahamas, Jan. 2, 2025 /PRNewswire/ — On December 31, 2024, the “Menstrual Equity Project” , jointly initiated by KuCoin, Global CSR Foundation, and the American Medical Women’s Association (AMWA), has made new progress. The second batch of aid supplies has been successfully shipped to the Bahamas, providing urgently needed sanitary products for 4,000 local women and effectively improving their quality of life.
The “Menstrual Equity Project” aims to offer sustainable menstrual hygiene solutions to marginalized women and girls, aligning with the United Nations’ Sustainable Development Goals (SDGs). As the oldest multi-specialty medical organization promoting women’s advancement in the medical field and improving women’s health, AMWA’s mission is in perfect alignment with KuCoin’s commitment to social responsibility.
With the support of the Office of the First Lady of Commonwealth of Bahamas H. E. Ann Marie Davis, this round of donated materials focuses on disposable menstrual pads. This decision reflects the local challenges of water scarcity and high washing costs, while also providing essential emergency supplies for women during natural disasters such as hurricanes and typhoons.
Since KuCoin made a firm commitment to social welfare initiatives during the “KuCoin Green Future Gala” at the 28th United Nations Climate Change Conference (COP28) in 2023, the company has actively fulfilled its corporate social responsibilities. The “Menstrual Equity Project” has become a key initiative under this commitment.
In March 2024, the project’s first phase was implemented, distributing 1,000 menstrual kits—each containing 10 sanitary pads and 2 menstrual cups—to Suriname, St. Jude Children’s Research Hospital, and domestic violence shelters in New York and California.
The smooth delivery of the second batch of supplies to the Bahamas will benefit 4,000 women.
Jing Zhao Cesarone，President of Global CSR Foundation, commented:”KuCoin has set a remarkable example in addressing period poverty in underserved regions, demonstrating its enthusiasm and dedication to social responsibility.”
Nancy Cheung, KuCoin’s Chief Sustainability Officer (CSO), emphasized:”As a global leader in the digital economy, KuCoin is committed to advancing the UN’s Sustainable Development Goals (SDGs). Looking ahead, we will continue to focus on key areas such as climate change, health, and education, driving more philanthropic initiatives to fruition. We also plan to expand the scope of the ‘Menstrual Equity Project,’ collaborating with more international organizations to improve women’s living conditions and contribute to global sustainable development.”
About KuCoin
Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.
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Blockchain Press Releases
Bybit Launchpad Onboards Xterio, Opening up Opportunities in Blockchain Gaming for Users
DUBAI, UAE, Dec. 31, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce the next major Launchpad project, Xterio token (XTER), with 7,500,000 XTER in rewards for early subscribers. Bybit users now have the opportunity to delve into the GameFi economy and earn rewards through two stages: by subscribing to the token on Bybit Launchpad by Jan. 7, and by completing simple tasks to unlock additional prize pools following XTER’s Spot listing on Jan. 8.
Xterio is an AI-powered blockchain gaming platform built on the Layer 2 OP Superchain ecosystem. Xterio’s innovative approach to combining gaming and rewards has attracted high-caliber investors and developers. The project has raised over $80 million in funding and boasts strong backing from Binance Labs, Makers Fund, DST Global, and over 70 partners.
XTER Subscription – How to Participate:
During the subscription period, users have two options to share in the 7,500,000 XTER rewards:
- Subscribing to Buy XTER with MNT for a chance to win from the total pool of 3,750,000 XTER (with an individual cap of 7,500 XTER).
- Joining the lottery with USDT to win XTER allocation from another 3,750,000 XTER prize pool (with an individual cap of 4 lottery tickets per users).
To participate, eligible users must maintain a daily average balance of 50 MNT or 100 USDT during the Snapshot Period from Jan. 3 to 7, 2025. The required amount must be committed during the Subscription Period from 3:30 AM UTC to 8:50 AM UTC on Jan. 8, and tokens will be allocated by 9:59 AM UTC on the same day.
XTER Spot Listing – More Rewards Head
From Jan. 7 to 22, 2025, Bybit users can also unlock two additional XTER prize pools by completing simple tasks:
- Users may register for the XTER Token Splash and complete deposit and trading tasks for a chance to earn from a 300,000 XTER prize pool; and
- The XTER Puzzle Hunt allows participants to collect puzzle pieces to unlock another 300,000 XTER prize pool.
Xterio on Bybit Web3: A Rising Star in Blockchain Gaming
Xterio also provides a robust and vibrant ecosystem through its strategic partnerships. Recently featured on Bybit Web3’s GameFi SNZ, Xterio ranked 4th among a formidable list of contenders, where its supporters shared a 38,000 XTER prize pool on Bybit.
By subscribing to and trading the native XTER token, Bybit users have the chance to get ahead in the rapidly growing blockchain gaming sector.
“We are excited to bring Xterio to Bybit Launchpad, offering our users a unique opportunity to get in early on the future of blockchain and AI gaming,” said Emily Bao, Head of Web3 and Spot at Bybit.
Bybit Launchpad offers a transparent platform allowing users to participate in high-potential blockchain projects at attractive prices in the early stages. Curated by blockchain experts, Launchpad projects often gain strong community support before landing on Bybit Spot, where users benefit from the platform’s robust infrastructure, safe trading environment, and deep liquidity.
For a detailed timeline on Bybit Launchpad and Bybit Spot, (terms and conditions apply), users may find out more from the announcement – Xterio (XTER) on Bybit Launchpad 3.0: Now Live, and visit Bybit Launchpad.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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