With the emergence and long-term Impact of COVID-19, Global Industrial Smart Motors Market to reach USD 2357.92 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Industrial Smart Motors Market is poised to raise up to USD 2357.92 Million by 2030. Industrial Smart Motors are advanced electromechanical devices with integrated sensors, communication abilities, and intelligent controls. The motors monitor parameters such as temperature, vibration, and energy usage, providing real-time data for diagnostics and optimization. The motors also communicate with other devices, seamlessly integrating into industrial automation networks.
The industrial smart motors market is driven by factors such as the growing demand for motors with enhanced process control and the emphasis on minimizing downtime. Additionally, the integration of Industrial Internet of Things services has enabled predictive maintenance, improved machine control, increased motor efficiency, and reduced downtime during maintenance, which is expected to further boost the demand for industrial smart motors in the future.
Geographically, the global Industrial Smart Motors market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to the high demand from manufacturing industries in these regions. Also, another factor is need to increase manufacturing plant productivity through the use of improved smart motors and the use of smart manufacturing techniques.
North America is expected to grow at fastest growth rate during the forecast period, owing to the integration of smart motors to enhance efficiency and reduce energy costs is driving the demand for smart motors across various market sectors. Furthermore, investments in aerospace and industrial robotics projects in developed regions are expected to boost the demand for smart motors in the coming years.
The global Industrial Smart Motors market is highly competitive owing to the presence of several key manufacturers such as Somfy Systems, Inc, Nidec Corporation, USAutomation LLC, Schneider Electric SE, Dunkermotoren GmbH, Rockwell Automation, Inc., Technosoft SA, and others.
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Key findings of the study suggest:
- Global Industrial Smart Motors Market is anticipated to grow with a healthy growth rate of more than 5.28% over the forecast period 2023-2030.
- In the Offering Segment, Products has emerged out as the leading market segment in 2022.
- In the End User segment, Compressor emerged out as the leading market segment in 2022.
- In the Market Vertical, Power & Energy emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth high demand from manufacturing industries in these regions. Also, another factor is need to increase manufacturing plant productivity through the use of improved smart motors and the use of smart manufacturing techniques.
- North America is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Offering:
- Products
- Services
End User:
- Pumps
- Fans
- Compressors
- Others
Market Vertical:
- Power & Energy
- Manufacturing
- Automotive
- Healthcare
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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