About Industrial Smart Motors
Smart motor communicates through smart sensor kit. It senses the performance on the parameters such as acceleration, velocity displacement, temperature and others. These features reduces the risks of operation and maintenance as it evaluates the performance and condition. In addition, it also reduces the maintenance costs and increases the lifetime of equipment. Moreover, smart motors has applications in compressors, industrial machineries, equipment and others. These features and applications are contributing towards the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.9% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Industrial Smart Motors market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Rockwell Automation (United States), Siemens (Germany), Dunkermotoren (Germany), HSD SpA (Italy), Nidec Corporation (Japan), Reliance Precision (United Kingdom), Rockwell Automation (United States), Schneider Electric (France), CG Global (India) and Technosoft SA (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are US Automation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Smart Motors market by Type (D Style and M Style) and Region.
On the basis of geography, the market of Industrial Smart Motors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Variable Speed Drive will boost the Industrial Smart Motors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry vertical, the sub-segment i.e. Power & Energy will boost the Industrial Smart Motors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution channel, the sub-segment i.e. OEM will boost the Industrial Smart Motors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power Supply, the sub-segment i.e. AC motor will boost the Industrial Smart Motors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Smart Industrial Motors
Market Growth Drivers:
Increased Demand of Improved Efficiency of the Motors are Fuelling the Market Growth and Reduced Maintenance Costs Due to the Features like Automatic Detection of Performance
Challenges:
Stiff Competition among the Major Players
Restraints:
Initial Costs of Installations due to the Implementation of Communication Technologies
Opportunities:
Rising Industrialization in Developing Economies are Boosting the Market and Rising Need of Adjustable Speeds are Fueling the Growth
Market Leaders and their expansionary development strategies
In May 2023, Applied Intuition, Inc., a tooling and software provider for autonomous vehicle development, and Embark Technology, Inc. (NASDAQ: EMBK), an autonomous trucking software company, today announced that the companies have entered into a definitive merger agreement. Under the agreement, Applied will acquire Embark in an all-cash transaction
In April 2022, TMEIC Asia Pte. Limited (hereinafter, "TMEIC Asia") launched the Smart Motor Sensor "TMASMS," which is artificial intelligence (AI) based, high-performance predictive maintenance platform for electric motors. Sales commenced in March 2022 under a Channel Partner Agreement with Analog Devices, Inc.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.