Global Smart Motors Market is Projected to Reach USD 1.38 Billion by 2020

Date: 2015-12-21

The global smart motors market is expected to reach USD 1.38 Billion by 2020 at a CAGR of 6.19% between 2015 and 2020.

The report aims at estimating the market size and future growth potential of the smart motors market based on different components and applications across regions. The base year considered for the study is 2014 and the market is forecast from 2015 to 2020. The market on the basis of component has been classified into variable speed drive, motor control center, and motors. Based on applications, the market has been segmented into industrial, commercial, automotive, consumer electronics, and aerospace & defense sectors. The market on the basis of geography has been segmented into the Americas, Europe, APAC, and RoW. Considering the increasing demand for smart motors in the industrial and commercial sectors, the growth of this market is estimated to be high. Also considering the technical benefits achieved using variable speed drives and intelligent motor controllers, the installation rate of smart motors is projected to increase by 2020.

The smart motor ecosystem includes component manufacturers and suppliers, motor manufacturers/integrators, smart motor suppliers, distributors, and end users, as important elements.

The smart motor ecosystem comprises major market players such as Rockwell Automation, Inc. (U.S.), Moog, Inc. (U.S.), Fuji Electric Co. Ltd. (Japan), ABB Ltd. (Switzerland), General Electric (U.S.), Siemens AG (Germany), Schneider Electric SE (France), Technosoft SA (Switzerland), RobotShop, Inc. (Quebec), and Robeteq, Inc. (U.S.).

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