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Smart Motor Market : Global Market Snapshot by 2022
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The key trend of global smart motor market is the tremendous increment in the demand of smart motor for the application in the industrial automation.
There are various factors driving the growth of global smart motor market such as the advantages provided by smart motors over the traditional AC motors as it requires less wiring and onsite space, cost reduction, increased effectiveness of equipment, less power consumption are some of the global smart motor market drivers driving this market. On the other side there are some factors which are responsible to hinder the growth of global smart motor market, which are; lower rate of implementation and additional consideration for variable frequency drive are some of restraints of smart motor market.
Among all the regions North America is the highest contributor in term of revenue in global smart motor market followed by Asia Pacific & it is expected that in near future Asia Pacific is going to lead this market.
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The key players of global smart motor market are Asea Brown Boveri (ABB) Ltd., Rockwell Automation, Inc., Moog Animatics, General Electric Co. Ltd., FUJI Electric Co. Ltd., Siemens AG, Technosoft S.A., Schneider Electric SE, Robotshop, Inc., Roboteq, Inc. and others.
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