Smart Motor Connectivity Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Albany, NY -- (SBWIRE) -- 02/05/2019 -- Industries are adopting Internet of Things (IoT) for industrial automation process. With IoT, smart motors can send condition data directly. Industries are adopting smart motor connectivity solution as it offers energy efficient system to preserve energy.
Increase in demand for motors with superior process control across industries is a key driver of the global smart motor connectivity solutions market. In addition, rising importance on reducing downtime boosts the demand for smart motor connectivity solutions. Smart motor connectivity solutions offer excellent machine control and predictive maintenance and improves efficiency. These factors are expected to augment the demand for smart motor connectivity solutions during the projected period. Moreover, continuous technological advancements and innovations in network connectivity are anticipated to boost their adoption across end-users. However, high installation cost associated with network infrastructure and devices are likely to hinder the growth of the market in the near future.
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The global smart motor connectivity solutions market can be segmented based on motor type, connectivity type, application, and region. Based on motor type, the market can be categorized into induction motor, servomotor, DC motor, stepper motor, linear motor, spindle motor, and others (special case motor). In terms of connectivity type, the global smart motor connectivity solutions market can be spilt into wireless and wired connectivity. The wireless connectivity segment can be further categorized into Bluetooth, Wi-Fi, Zig-Bee, Z-Wave, Li-Fi, and others. Wireless connectivity dominated the connectivity type segment in 2018, which is expected to continue during the forecast period. Wireless connectivity reduces the time and obstacles associated with cables as it does not involve the use of wires for data or voice communication. Moreover, rapid adoption of wireless devices, such as mobiles and smartphone, PCs/Desktops/Notebooks, satellite receivers, laptops, personal digital assistants (PDAs), wireless sensors, etc. further boost the demand for wireless connectivity. In terms of application, the global smart motor connectivity solutions market can be divided into oil & gas, mining, manufacturing, construction, energy & utilities, aerospace & defense transportation, and others (consumer electronics, etc.). The manufacturing application segment can be further classified into discrete manufacturing and process manufacturing. The segment is expected to expand at a significant CAGR during the forecast period.
Based on region, the global smart motor connectivity solutions market can be segmented into North America, Europe, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the global market during the forecast period. The U.S. is expected to be the leading revenue contributor of the smart motor connectivity solutions market in North America owing to increase in adoption of smart motors for industrial operational processes in the country. In Canada, motor connectivity solutions are likely to witness high demand from the mining and manufacturing industries as these industries are adopting automation to streamline the operations. The smart motor connectivity solutions market in Europe is projected to grow rapidly during the forecast period as industry verticals are adopting smart motors to save on energy as these motors consume less energy than traditional ones. The smart motor connectivity solutions market in Asia Pacific market is projected to poised to grow significantly during the forecast period due to increase in Internet penetration and strong presence of telecommunication companies in the region. The smart motor connectivity solutions market in China is expected to register maximum growth in the near future as the country is rapidly adopting smart technology. In Asia Pacific, Australia is projected to create significant impact on smart motor connectivity solutions market as industries are adopting smart technology owing to increase in labor cost in the country.
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Providers of smart motor connectivity solutions offer a wide range of solutions and services, such as periodic maintenance, services, repairs, and upgrade of solutions for maintenance of smart motors. Key companies operating in the global smart motor connectivity solutions market are Rockwell Automation, Inc. Moog, Inc., Technosphere Labs Pvt Ltd, Fuji Electric Co. Ltd, Avnet, Inc., ABB Ltd., General Electric (the U.S.), Siemens AG, Schneider Electric SE (France), Technosoft SA, RobotShop, Inc., and TE Connectivity.
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