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Digital Servo Motors and Drives Market Trends

Report ID: GMI7544
Published Date: Oct 2024
Report Format: PDF

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Digital Servo Motors and Drives Market Trends

Digital servo motors and drives industry is anticipated to witness significant growth owing to continuous technological advancements in industrial automation and stringent government regulations promoting environmental sustainability. The sector is poised for substantial expansion, driven by the growing integration of robotics & automation across routine operations. Additionally, the adoption of smart manufacturing practices is accelerating, especially in major industrial automation segments. The surge in demand for highly efficient motor control systems across diverse industries, alongside the expansion of the automated vehicles, is expected to fuel market growth.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The global market size for digital servo motors and drives was valued at USD 8.5 billion in 2023 and is expected to reach USD 15.4 billion by 2032, driven by a CAGR of 6.7% from 2024 to 2032.

The digital servo motors and drives industry from metal cutting & forming segment is projected to observe a substantial growth rate of over 5% through 2032, driven by advancements in technology and the increasing demand for efficiency and precision.

U.S. market is anticipated to surpass USD 2.8 billion by 2032, driven by the ongoing shift towards industrial automation.

Major players in the industry include ABB, Beckhoff Automation, Bosch Rexroth, CM Robotics, Dai-ichi Dentsu, Danfoss, Delta Electronics, Emerson Electric, Fuji Electric, Hitachi, Mitsubishi Electric, Promess, Rockwell Automation, Schneider Electric, Siemens, Sprint Electric, and WEG.