Press release
Smart Motors Market Forecast 2023
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.
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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 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 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.
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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.
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.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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