Jersey City, New Jersey, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Smart Motors Market” By Type (24V, 18V, 36V, and 48.24V), By Application (Industrial, Automotive, Consumer Electronics, Aerospace and Defense, and Others), and By Geography. According to Verified Market Research, the Global Smart Motors Market size was valued at USD 1.74 Billion in 2020 and is projected to reach USD 2.75 Billion by 2028, growing at a CAGR of 6.27% from 2021 to 2028.
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Browse in-depth TOC on “Smart Motors Market”
202 - Pages
126 – Tables
37 – Figures
Global Smart Motors Market Overview
A smart motor converts electrical energy from the battery into rotational energy. This rotational energy is then used in turning wheels, closing claws, pumps, etc. It is characterized by integrated control electronics and has the ability to communicate through Ethernet or Fieldbus interfaces. Smart motor controllers enable to enhance productivity and help to prevent any motor failures with a data-driven and integrated approach.
Smart motors consist of sensors, motion controllers, and variable frequency drives. The smart motor sensor is a connected sensing module that monitors the health and status of low-voltage motors in real-time. Also, it relies on vibration, temperature, and magnetic field sensing to identify critical motor faults that enable predictive maintenance so that failure and downtime can be prevented.
Expanding the automotive industry with increased production of passenger vehicles particularly in the developing regions coupled with rising per capita disposable income is likely to fuel the product demand substantially. Additionally, alarmingly high carbon emissions and the rising need to reduce dependence on fossil fuels have resulted in an increased emphasis on implementing emission control norms and framing policies aimed at promoting the adoption of electric vehicles by governments across geographies.
Key Players
The major players in the market are Rockwell Automation, Moog, Inc, Fuji Electric Co., Ltd., ABB Ltd, Siemens AG, Schneider Electric SE, General Electric, Dunkermotoren GmbH, Technosoft SA, RobotShop, Inc Robeteq, Inc., and Others.
Verified Market Research has segmented the Global Smart Motors Market On the basis of Product, Application, and Geography.
- Smart Motors Market, By Product
- 24V
- 18V
- 36V
- 48.24V
- Smart Motors Market, By Application
- Industrial
- Automotive
- Consumer Electronics
- Aerospace and Defense
- Others
- Smart Motors Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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A smart motor converts electrical energy from the battery into rotational energy. This rotational energy is then used in turning wheels, closing claws, pumps, etc. It is characterized by integrated control electronics and has the ability to communicate through Ethernet or fieldbus interfaces. The smart motor controllers enable to enhance the productivity and helps to prevent any motor failures with a data-driven and integrated approach.
Motors consumes significant amount of electricity. They account for around 65% of total energy used in industry. Wasted energy is an unseen factor that can run up production costs. In addition to this, the escalating price of fossil fuels due to rising global competition has resulted in an increased need for energy efficient solutions
