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Global Machine Tools Market Report 2021-2027: Advances in Innovation & Technology & Increased Demand in Emerging Markets
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Global Machine Tools Market Report 2021-2027: Advances in Innovation & Technology & Increased Demand in Emerging Markets
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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PUNE, India, Dec. 17, 2020 /PRNewswire/
The COVID-19 pandemic is expected to positively impact the global machine tools market. Machine tools that are controlled with the help of computers are increasingly used for product manufacturing. This is because the companies are facing considerable shortages when it comes to manpower, especially with the social distancing measures enforced across the globe.
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The automotive industry accounted for a considerable share in the global machine tools market in 2019. The added focus on automation in the manufacture of automobiles, coupled with the higher demand for both commercial and passenger vehicles has prompted companies to adopt complex machine tools which are based on IoT. These tools can be controlled with the help of smart devices. Furthermore, machine tools that are capable of generating valuable data which drives efficiency