Smart Motor Controllers Market to Reap Excessive Revenues by 2024

Smart Motor Controller is a compact easy-to-use solid state motor controller designed to operate three-phase motors; with a built-in overload relay and a built-in silicon controlled rectifier bypass contactor on all three phases, allowing reduced heat dissipation and smaller footprint than other soft starters present in the market.

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It combines advanced monitoring and protection features, multiple start and stop options, and expandable control inputs and outputs thus giving the ability to the consumer to start and control wide range of load types all with a one controller. These features lead to increase in efficiency, reduction in downtime and improved control. Its so designed to gain maximum efficiency of motor during starts and stops.

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Globally, every year an estimated US$ 198 Billion is spent on excess maintenance activities. No.of manufacturing facilities across the globe is increasing to meet the increased demand which has led to higher production.

High production volumes, growing concern for energy conservation and use of multiple automation systems are the key factors driving the growth of smart motor controllers market.

Increasing raw materials and energy costs act as major restraints. Management of energy consumption is a key in tackling the burning issue of global warming. Few OEMs perceive globalization as a threat rather than the opportunity, indicating tough competition from Asian manufacturers. Shortage of skilled labor and China’s ability to produce low-cost goods constrains the growth of smart motor controllers market.

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Rapid industrialization along with strong economic growth will lead the smart motor controllers market to expand at a healthy CAGR of around 12% during the forecast period (2015-2025).The smart motor controllers market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, smart motor controllers market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America and Western Europe dominated the smart motor controllers market in terms of market revenue. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the smart motor controller’s market value exhibiting a robust CAGR during the forecast period, 2015?2025.

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