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The leap motion controller can be defined as the subfield of automation that helps deal with moving fragments of machines in a controlled manner. These controllers are mainly used in applications such as power, efficiency, accuracy, and product lines. The controllers are designed to regulate specific actuator type that helps in controlling intelligence to command hydraulic, electric or pneumatic actuators.
The outbreak of COVID 19 impacted the leap motion controller market due to the shortage in the supply chain across the globe as the countries were under lockdown. There was a major decline in the demand for products. The manufacturing was shut, and the production was limited due to pandemics resulting in a shortage of raw materials. The decline in exports and shortage in supply are major market restraints of the leap motion controller market for the short term.
Key Market Driver -
• Increasing adoption of advanced and automated processors in manufacturing industries to support the market growth • Demand for safe equipment and easy setup is anticipated to drive the market growth
Key Market Restraint -
• Supply chain disruption due to the outbreak of COVID 19 anticipated to restrict market growth
Major players operating in the leap motion controller market are ABB Ltd, Yokogawa Electric Corporation, YASKAWA Electric Corporation, Allied Motion Inc., Delta Electronics Inc., Fuji Electric, Parker Hannifin Corporation, Mitsubishi Electric Corporation, National Instruments, Omron Corporation, Toshiba Corporation, Siemens AG, Schneider Electric and Rockwell Automation Inc., among others.
Major players opt for various strategies such as mergers, acquisitions, partnerships, product launches, and business expansion to enhance their market presence. For instance, in February 2020, Rockwell Automation acquired ASEM. This would help Rockwell to improve control and visualization and the ability to deliver high-performance integrated automation solutions. Similarly, in January 2020, Rockwell Automation Inc. launched a new circuit breaker that offers various time, space, and cost-saving. This tool is enabled with UL approval for use in group installation.
North America is anticipated to hold the highest market share in the leap motion controller market due to the rapid growth of industrial automation. The next-generation automated process such as advanced robotics, the internet of things, and mobile technology, among others in manufacturing, is expected to help grow the market.
Asia Pacific is anticipated to have significant growth attributed to increasing industrial activities and increased demand for accurate and fast motors and drives to achieve product output. The increasing energy efficiency with the need for software systems is likely to drive the market growth in the region. High growth was observed in machine tools, automotive sectors, and other sectors related to automobiles and smartphones that include semiconductors, electronics assembly, and customized robots for applications is also expected to drive the market growth.
Further, Europe is also expected to have significant growth in industrial robots. They are considered an essential part of manufacturing, capable of visual recognition, and even helps in predicting failure using skill learning and artificial intelligence (AI). Furthermore, growing automation sectors help in increasing the rate of investment, hence driving the growth of the leap motion controller market.
Whereas the Middle East and Africa are still in the growing stage. However, various factors such as economic growth and investment made by governments are expected to drive the market growth in the region.
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