Smart Motors Market Will Witness Substantial Growth in the Upcoming years by 2027 | FUJI Electric Co. Ltd., Technosoft, and Schneider Electric SE.

Report Ocean releases its latest report on the global Smart Motors Market. A combination of information gathered from first-hand sources, qualitative and quantitative assessments of industry analysts, and insights from experts and participants across the value chain is used to calculate the global Smart Motors Market.

The global smart motors market is expected to grow at a CAGR of 6.7% during the forecast period 2021-2027.

Rising concern for saving energy costs by improving energy efficiency has resulted in a surge in the adoption of smart motors in various high energy-intensive industries such as automotive, industrial manufacturing, consumer electronics, aerospace & defense, oil & gas, mining, among others.

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Growth Drivers:

The rising cost of fossil fuels, mainly owing to intense competition, has necessitated the use of energy-efficient solutions. This has resulted in an augmented use of smart motors in the industrial sector in applications such as mixers, extruders, simple pumps, fans, compressors, simple wire, and drawing machines to integrate smart motor controllers in an automation process helps to conserve energy. Additionally, intelligent motors control (IMC) monitors the load condition of the motors and adjusts the voltage input accordingly, thereby offering energy efficiency of up to 3-5%.

Furthermore, soaring carbon emissions and the growing need to reduce dependence on fossil fuels have led to a rising focus on implementing emission control standards and framing policies to encourage the adoption of electric vehicles across the globe which in turn propels the intelligent motors market development. Also, growing emphasis on the adoption of smart, flexible, and integrated solutions by the automobile players, particularly by electric vehicle manufacturers, is likely to drive the market demand for smart motors control systems in automobiles.

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Smart Motors Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Smart Motors Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Smart Motors Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts the Smart Motors Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Smart Motors Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Smart Motors Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Smart Motors Market provides insight into the factors influencing its growth. This market study breaks down the Smart Motors Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Smart Motors Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Smart Motors Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Smart Motors Market are:

Rockwell Automation, Inc., Moog Animatics, Siemens AG, Robotshop, Inc., General Electric Co., Roboteq, Inc., ABB Ltd., FUJI Electric Co. Ltd., Technosoft, and Schneider Electric SE.

Scope of the Report

The global Smart Motors Market segmentation focuses on:

By Component
Variable Speed Drive
Intelligent Motor Control Center
Motor

By Product
24V
18V
36V
48V and above

By Application
Industrial
Commercial
Automotive
Consumer Electronics
Aerospace & Defense

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This release was published on openPR.