Selbyville, Delaware, Sept. 04, 2024 (GLOBE NEWSWIRE) -- AC Servo Motors and Drives Market is projected to reach USD 25.9 billion by 2032, as per a recent study by Global Market Insights Inc.
The expansion of the e-commerce and warehousing sectors is a significant growth driver. According to Hostinger, the eCommerce market is anticipated to reach $5.5 trillion by 2027, with online sales projected to account for 23% of the global retail sector. As online shopping continues to surge globally, there is an increasing need for sophisticated automation solutions to manage the complexities of large-scale warehousing and distribution operations. Efficient order fulfillment, inventory management, and logistics are critical to meet the growing demands of e-commerce. AC servo motors and drives automate these processes, providing the speed, precision, and reliability necessary for tasks such as conveyor belt movement, robotic picking and placing, and automated guided vehicles (AGVs). The heightened focus on automation in warehousing not only improves operational efficiency but also enhances safety by reducing manual labor.
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Analogue AC Servo Motors and Drives to witness rising sales
AC servo motors and drives market size from analogue segment will gain traction through 2032, owing to its ability to offer high-resolution feedback and smooth motion control, making it ideal for applications requiring accurate positioning and speed control. Analogue motors excel in applications where fine-tuned control is essential, such as in robotics, CNC machinery, and other precision equipment. The resurgence of analogue technology in servo motors and drives is driven by its simplicity, robustness, and cost-effectiveness compared to digital alternatives. While digital servo systems have gained popularity due to their advanced features, analogue systems continue to be favored in scenarios where a straightforward, reliable solution is needed without the complexity of digital signal processing.
Surge in product demand from Warehousing segment
The warehousing segment will hold a notable market share by 2032, propelled by the rapid growth of e-commerce and the need for automated material handling systems. With the global shift towards online shopping, warehousing operations have become more complex and demanding, requiring advanced automation solutions to ensure efficient order fulfillment, inventory management, and logistics. The push towards smart warehouses and Industry 4.0 is further driving the adoption of AC servo motors and drives in this segment.
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Europe to serve as a major marketplace
Europe AC Servo Motors and Drives Market will witness decent growth through 2032, driven by a focus on industrial automation, coupled with the presence of key players in the region. Countries like Germany, Italy, and France are at the forefront of adopting advanced automation technologies, driven by the need to enhance productivity, reduce operational costs, and maintain a competitive edge. Additionally, the European market is witnessing increased investments in research and development aimed at improving the efficiency and capabilities of AC servo motors and drives, creating lucrative growth opportunities.
AC Servo Motors and Drives Market Players
Major companies in the market include, Mitsubishi Electric Corporation, Yaskawa Electric Corporation, Siemens AG, Schneider Electric, Rockwell Automation, Inc, ABB Ltd, Delta Electronics, Inc, FANUC Corporation. They are investing heavily in research and development to advance technology and improve the performance and efficiency of their products. Strategic partnerships and collaborations with other technology providers are being pursued to expand their capabilities. Additionally, companies are focused on customer-centric solutions by tailoring their products to meet specific industry needs and enhancing service offerings. Expansion into emerging markets is also a key strategy, with companies establishing a stronger footprint in regions with growing industrial automation demands.
In October 2023, Yaskawa Electric Corporation unveiled an expansion of its GA700 series of next-generation AC drives. The 400V-class capacity range has been extended from 0.4 to 355 kW up to 0.4 to 630 kW. This enhancement allows the GA700 to support larger general industrial machinery and equipment, broadening its applicability across a wider array of applications.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
