Press release
Smart Motors Market Size & Share - Industry Trend and Forecast 2016 - 2023
The main objective of this report is to define, describe, and forecast the global “Smart Motors” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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Smart Motors Market: Overview
Smart motor is an intelligent, and programmable device able to adjust the frequency and voltage supply in order to alter the speed and torque of a motor. In traditional motors, mechanical elements are used to control the speed, torque, and position of a motor. However, smart motors use sophisticated power electronics to control motor as per the application requirement. Smart motor combines the functionality of motor, speed controlling device such as variable speed drives, and control unit providing integration of hardware, software to carry out a process efficiently and effectively.
In addition, it provides smooth acceleration and deceleration to protect the system mechanics. Furthermore, it allows users to program start, stop, and speed of the motor rendering to the application requirements. In pumping system, smart motors are in wide use to improve the energy savings, reduced heat loss, and to control cooling water pumps. In applications such as conveyor systems, pressure sensors are used to measure the load on the conveyor and from sensor inputs smart motor controls the speed, start and stop actions of motor.
Smart Motors Market: Drivers and Restraints
Smart motor helps in reducing the energy consumption in applications where variety of load conditions are used in a process. Smart motors are capable of near field communication allowing to control motor in less safety processes. Smart motors have less maintenance cost as compare to traditional motors due to control units which monitors the performance of motors in a process such as production process, conveyor process, and other.
In addition, with the increasing requirement of adjustable speed in applications such as material handling, pumping systems, and fan systems are expected to drive the demand for smart motors. However, with variable frequency adjustments capability of smart motors might be potentially harmful to equipment and environment. Furthermore, smart motors require some additional spare parts/ components such as speed control device increasing overall cost of system. In addition, capital investment required for smart motors is more than traditional motors. These factors are expected to restrain the wide scale use of smart motors. The increasing use of smart-phone in industrial applications such as smart-phone controlled smart motor, and integration of internet of things in industrial processes is expected to provide opportunities for adoption on smart motors in forecast period.
Smart Motors Market: Segmentation
Smart motors market is segmented on the basis of component type, application, and geography. By component type, smart motors market is segmented into variable speed drive, intelligent motor control center, and motor. On the basis of applications, smart motors market is segmented into industrial/commercial, residential, consumer electronics, and automotive segment. Based on geography, smart motors market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America and Europe region have seen increased demand for smart motors due to increasing adoption of smart-phones in industrial applications, and growing industrial, and automation in various industrial processes. However, Asia Pacific region is expected to have a large scale demand for smart motors due to growing industrial sector, and consumer electronics, and improving energy conservation in processes.
Smart Motors Market: Key Players
In the smart motors market, leading companies providing various types of smart solutions and devices includes Rockwell Automation, Inc., Fuji Electric Co. Ltd., General Electric Co., Schneider Electric SE, Lenze Group, MDC Vacuum Products LLC., ebm - papst Group, Siemens AG, Moog Animatics, Teknatool International Ltd., etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
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The report covers exhaustive analysis on:
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Value Chain
Regional analysis includes:
North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
Report highlights:
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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