New York, June 20, 2023 (GLOBE NEWSWIRE) -- From 2023 to 2033, The global Intelligent Motor Controllers Market is expected to surge at a 5.6% CAGR. By 2023, it is projected to surpass a valuation of US$ 726.5 million. By 2033, the market is anticipated to be worth more than US$ 1.3 billion.
A wide range of sectors are looking for intelligent motor controllers to improve their operational efficiency in light of the arrival of industry 4.0 and the emphasis on automation. Their capacity to include cutting-edge technologies such as artificial intelligence (AI), machine learning, and internet of things (IoT) capabilities drives demand. These controllers can help businesses improve motor performance and streamline interoperability with other systems.
For businesses hoping to lower their carbon footprint and operating expenses, energy efficiency has grown to be a critical concern. Advanced energy management capabilities such as precise control, power optimization algorithms, and real-time monitoring are available with controllers. These capabilities can be used to increase energy efficiency and meet environmental objectives.
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Productivity of a corporation can be greatly impacted by downtime and maintenance expenses. Real-time monitoring of motor performance is made possible by intelligent motor controllers that use predictive maintenance capabilities.
They can also spot possible issues or anomalies before they result in a failure. This preventative maintenance strategy will assist businesses in minimizing downtime, lowering maintenance expenses, and increasing the efficiency of their equipment.
Strict safety laws and compliance requirements are in place in multiple sectors. Use of sophisticated motor controllers can help to achieve these standards.
Advanced safety features on these controllers include defect detection, motor protection, and remote monitoring capabilities. Sectors can guarantee adherence to their unique safety criteria by using these characteristics.
Advanced controllers like these also offer extensive data logging and reporting capabilities, which can help with regulatory compliance audits and meeting requirements.
Key Takeaways from Intelligent Motor Controllers Market Study:
- The global intelligent motor controllers industry exhibited a steady CAGR of 7.0% in the historical period from 2018 to 2022.
- China intelligent motor controllers industry is likely to be valued at US$ 290.6 million by 2033.
- The United States intelligent motor controllers industry is projected to witness a CAGR of 5.5% in the evaluation period.
- The United Kingdom intelligent motor controllers industry is estimated to surpass US$ 48.8 million by 2033.
- Based on motor type, the AC segment is likely to record a considerable CAGR of 5.4% in the forecast period.
“Demand for intelligent motor controllers has increased dramatically as a result of developments in motor control technology, including the creation of sophisticated algorithms and sensor technologies. The market for electric vehicles is growing, which has increased demand for smart motor controllers. Surging demand for these controllers for managing electric motors used in electric cars is anticipated to push growth.” – Says a lead analyst at Persistence Market Research (PMR).
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Competitive Landscape
Key Players in Intelligent Motor Controllers Market are ABB Group, Fairford Electronics Ltd., General Electric Company, Larsen & Toubro Ltd., LSIS Co., Ltd., Mitsubishi Electric Corporation, Nanotec Electronic GmbH & Co. KG, NXP Semiconductors NV, Roboteq Inc, Rockwell Automation, Inc. and more
To remain competitive, manufacturers would strive to optimize production processes, reduce manufacturing costs, and achieve economies of scale. This would allow them to offer intelligent motor controllers at competitive price points without compromising quality or performance. Cost competitiveness can be achieved through efficient supply chain management, strategic partnerships, and continuous improvement in manufacturing efficiency.
Intelligent motor controller manufacturers might understand that different sectors and applications have unique requirements. They would soon offer customization options to tailor their products to specific customer needs.
It might include modifying the controller's software, hardware configurations, or communication interfaces to seamlessly integrate with existing systems. Providing flexibility and customization options would allow manufacturers to cater to diverse demands effectively.
For instance,
- ABB's intelligent motor controller, ABB Ability Smart Motor Control, combines motor control, advanced analytics, and connectivity features. It helps to optimize motor performance and enhance energy efficiency. It offers real-time monitoring and diagnostics, enabling predictive maintenance and reducing downtime.
- Schneider Electric's Altivar Process Modular is an intelligent motor controller. It is designed to deliver precise control, energy efficiency, and enhanced process performance in demanding industrial applications. It offers advanced motor control algorithms, embedded cybersecurity features, and comprehensive diagnostic capabilities for optimal motor performance & system reliability.
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Find More Valuable Insights into Intelligent Motor Controllers Market Report
The research report analyzes the global demand for intelligent motor controllers. The global intelligent motor controllers market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Persistence Market Research (PMR), the market has been analyzed based on motor type (AC, DC, others), application (pumps, fans, compressors, others), end use (oil & gas, power generation, water & wastewater, others), and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply-side and demand factors.
About the Industrial Automation Division at Persistence Market Research (PMR)
The industrial automation division of Persistence Market Research (PMR) offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
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