The overall linear motion system market is expected to grow from USD 12.1 billion in 2018 to USD 17.0 billion by 2024, growing at a CAGR of 5.9%. Major factors driving the growth of the linear motion system market include increasing need for quality inspection and automation, reduced time-to-market, and growing demand for miniaturization of electronic devices in the semiconductor industry. Rising acquisitions and partnerships on linear motion technology products, growing investments in industrial automation and robotics, and government initiatives to support industrial automation is a key opportunity for players in the linear motion system market.
The linear motion system market based on type has been segmented into single process systems and multiprocess systems. Multiprocess systems are likely to dominate the linear motion system market. These systems reduce cost, increase performance, and shrink machine footprints while simplifying network connectivity. Owing to these benefits, multiprocess systems have attained high market growth during the forecast period.
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Emerging countries of APAC, including China and India, are witnessing dynamic changes in the adoption of new technologies and advancements in the manufacturing sector. Also, huge government initiatives for IT infrastructure developments have been made. These factors lead to the highest growth rate of APAC in the linear motion system market.