Asia-Pacific to Be the Fastest Growing Market for Smart Motors Worth 1.38 Billion USD by 2020
The industrial sector is expected to be the fastest-growing market for smart motors, during the forecast period. Smart motors and related components such as variable speed drives and control ICs are used in several industrial applications such as automated machinery, industrial sewing machines, and stage lighting among others. This proves to be a driving factor for the market to grow in the industrial sector.
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