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The global smart motors market reached a value of US$ 2.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2027, exhibiting a CAGR of 5.57% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A smart motor is a programmable electronic device with adjustable speed and torque. The motor alters the frequency and supply of voltage to replace the thermal overload relay with multiple set points. It consists of an encoder, amplifier, current monitor, dual ethernet port and universal serial bus (USB) interface. The microcontroller detects the load on the shaft and correspondingly adjusts the power extraction to the load. In comparison to the traditionally used motors, smart motors are more energy-efficient, have minimal heat loss and downtime and provide enhanced control over internal cooling. They also minimize the requirement for ancillary components for linear or rotary motion in the connected shafts. As a result, smart motors find extensive applications across various industries, including manufacturing, healthcare, automotive, energy and power.
The increasing requirement for industrial automation, robotics and efficient material handling solutions is one of the key factors driving the growth of the market. Smart motors are widely used for performing complex operations, predictive maintenance and advanced process control in pumps, compressors, conveyor systems and controllers. Moreover, the widespread adoption of smart motors in hybrid and electronic vehicles (H/EV) is providing a thrust to the market growth. Various technological advancements, such as the integration of connected devices with the Industrial Internet of Things (IIoT) and artificial intelligence solutions, are acting as other growth-inducing factors. These technologies aid in monitoring the motors through smartphones, thereby improving the overall efficiency, predicting operational failures and minimizing premature breakdowns. Other factors, including rapid industrialization, especially in the developing economies, along with the increasing utilization of smart motors for non-destructive testing and pipeline inspection in oil and gas extraction sites, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart motors market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, product and application.
Breakup by Component:
Breakup by Product:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Dunkermotoren GmbH (AMETEK Inc.), Fuji Electric Co. Ltd. (Furukawa Co. Ltd.), General Electric Company, Moog Inc., Nidec Corporation, RobotShop Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Technosoft SA.
|Base Year of the Analysis||2021|
|Segment Coverage||Component, Product, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd, Dunkermotoren GmbH (AMETEK Inc.), Fuji Electric Co. Ltd. (Furukawa Co. Ltd.), General Electric Company, Moog Inc., Nidec Corporation, RobotShop Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Technosoft SA|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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