Global Woodworking Machines Market 2018-2022| Adoption of loT to Boost Growth| Technavio

By Business Wire

Article Rating:

December 28, 2018 11:31 AM EST  

Technavio’s global woodworking machines market research report forecasts
the market to grow at a CAGR of around 3% during the forecast
period.

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Technavio predicts the global woodworking machines market to grow at a CAGR of around 3% by 2022. (G ...

Technavio predicts the global woodworking machines market to grow at a CAGR of around 3% by 2022. (Graphic: Business Wire)

The adoption of loT in woodworking machines will be one of the major
trends in the global
woodworking machines market
during 2018-2022. loT is an
ever-growing network of physical objects, which feature an IP address,
thereby allowing it to connect to the internet and permit communication
between these objects and other internet-enabled devices. The
integration of automation control systems, industrial machinery, and big
data analytics offer the ability to predict future risks and can take
the required steps for risk mitigation.

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According to Technavio analysts, one of the key drivers for the global
woodworking machines market is the increasing adoption of automated
woodworking machines:

Global woodworking machines market: Increasing
adoption of automated woodworking machines

Automation is one of the key driving factors for the global woodworking
machinery market. The rising focus toward ensuring flexibility and
highly personalized product in the woodworking industry has led to an
increased need for highly specialized woodworking machinery in the
production process. This has resulted in the integration of automation
technologies into traditional woodworking machinery.

According to a senior research analyst at Technavio, “The automated
stand-alone machines are flexible. Hence, they are easy to integrate
with other machinery and monitoring systems in the wood industry with
the help of software. This allows the large industrial plants to
partially shift toward automated production process, thereby ensuring
high performance and flexibility of the production process with low
human resource.”

Global woodworking machines market:
Segmentation analysis

This global woodworking machines market analysis report provides market
segmentation by application (furniture, construction, and others) and by
region (the Americas, APAC, and EMEA). This report provides an in-depth
analysis of the prominent factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

Of the two major applications, the furniture segment held the largest
woodworking machines market share in 2017, contributing to over 79% of
the market. This application segment will dominate the global market
throughout the forecast period.

The EMEA region held the largest share of the market in 2017, accounting
for more than 50% share. It was followed by APAC and the Americas
respectively. The EMEA region is expected to dominate the market
throughout the period 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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