Hexagon Acquires Xwatch Safety Solutions to Bolster Digital Construction Portfolio

Hexagon AB acquires Xwatch Safety Solutions to enhance its digital construction product portfolio and strengthen its position in the machine control system market. The acquisition aims to improve worker safety and project efficiency in the construction industry.

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Nitish Verma
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Hexagon Acquires Xwatch Safety Solutions to Bolster Digital Construction Portfolio

Hexagon Acquires Xwatch Safety Solutions to Bolster Digital Construction Portfolio

Hexagon AB, a global leader in digital reality solutions, has announced the acquisition of Xwatch Safety Solutions, a UK-based company specializing in machine control technologies for construction site safety. The strategic move aims to enhance Hexagon's digital construction product portfolio and strengthen its position in the rapidly growing machine control system market.

Why this matters: This acquisition highlights the increasing importance of advanced technology solutions in the construction industry, which can have a significant impact on worker safety and project efficiency. As the demand for machine control systems continues to grow, companies like Hexagon are well-positioned to shape the future of digital construction and influence industry standards.

The machine control system market size is experiencing significant growth, driven by the increasing demand for advanced technology solutions that optimize operations and maximize performance in industries such as construction, agriculture, mining, and manufacturing. According to market research, the global machine control system market size is projected to grow from USD 5.1 billion in 2023 to USD 7.3 billion by 2028, at a compound annual growth rate (CAGR) of 7.4% during the forecast period.

Several key trends are fueling the growth of the machine control system market. The rise of automation across various industries has led to a surge in demand for machine control systems that enable precise control and guidance of machinery, allowing operators to achieve accurate results while minimizing errors and rework. Technological advancements, such as the integration of artificial intelligence, machine learning, and IoT connectivity, are also driving innovation in the field, revolutionizing the capabilities of machine control system market share.

Hexagon AB is one of the key players operating in the machine control system market, alongside other prominent companies such as Topcon, Trimble Inc., MOBA Mobile Automation AG, Hemisphere GNSS, Inc., and EOS Positioning Systems, Inc. The acquisition of Xwatch Safety Solutions is expected to bolster Hexagon's offerings in the digital construction space, enabling the company to provide comprehensive solutions that address the growing demand for enhanced safety and efficiency on plant, news.

The acquisition of Xwatch Safety Solutions by Hexagon AB underscores the increasing importance of advanced technology solutions in the construction industry. As the demand for machine control systems continues to grow, driven by the need for precision, efficiency, and safety, companies like Hexagon are well-positioned to capitalize on the market opportunities and shape the future of digital construction.

Key Takeaways

  • Hexagon AB acquires Xwatch Safety Solutions to enhance digital construction portfolio.
  • Machine control system market to grow from $5.1B to $7.3B by 2028 at 7.4% CAGR.
  • Automation, AI, and IoT drive demand for machine control systems in construction.
  • Hexagon AB strengthens position in digital construction with Xwatch Safety Solutions.
  • Advanced tech solutions crucial for worker safety and project efficiency in construction.