Global Industrial Smart Motors Market Expected to Reach $1,809.1 Million by 2025 By Leading Companies: CG, Dunkermotoren GmbH, HSD SpA, Nidec Corporation, Reliance Precision Limited, Rockwell Automation, Schneider Electric, Somfy Systems Inc., TECHNOSOFT
According to a new report published by Allied Market Research titled, Industrial Smart Motors Market by Offering, End User, and Market Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,the "industrial smart motors market was valued at $1,207.86 million in 2017 and is expected to reach $1,809.11 million by 2025, registering a CAGR of 5.28% from 2018 to 2025." Asia-Pacific dominated the industrial smart motors market accounting for around two-fifths share of the total revenue by region.
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Industrial smart motors are specialized motors that offer superior performance through integration of internet of things (IoT) enabled services that include superior machine control, predictive maintenance, and reduced downtime during maintenance. Smart motors have witnessed a rise in their scope of application across different industry verticals due to integration of sensors, microprocessor chips, and software programs. For instance, they find application in discrete automation, materials handling, industrial machineries & equipment, smart manufacturing, and mechanical power transmission-based equipment among others. As a result, the industrial smart motors have gained traction in the recent years and are expected to provide numerous profitable opportunities for the manufacturers during the forecast period.
The pumps segment accounted for almost one-fifth share of the global smart industrial motors market based on end user due to high demand for efficient and superior machine control of motors. Moreover, increase in demand for reducing downtime during maintenance and service activities is expected to drive the growth of smart motors across different market verticals. Thus, the pumps segment is expected to maintain its dominant position during the forecast period and subsequently provide numerous profitable opportunities for the market players. However, growth in popularity of application-specific equipment and machinery has gained traction and is projected to propel the demand for smart motors in conveyor systems, process automation, smart manufacturing, and OEMs (original equipment manufacturers) related equipment among others.
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The manufacturing industry segment accounted for almost one-fourth of the total market share in the industrial smart motors market due to rise in adoption of smart manufacturing practices to low downtime and improved efficiency of the plant machineries by leading manufacturers over the past few years. Further, the growing popularity of IoT (Internet of Things) enabled services in industrial machineries as well as equipment is gaining traction among manufacturers for improving their plant efficiencies and preventing unanticipated equipment failures.
Key Benefits For Industrial Smart Motors Market :
The report provides an extensive analysis of the current as well as emerging trends and dynamics in the global industrial smart motors market.
An in-depth analysis is presented by constructing market estimations for the key market segments between 2017 and 2025.
An extensive analysis by following the key product positioning and monitoring of the top competitors within the market framework is conducted.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities in these geographies.
The key market players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the industrial smart motors market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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