Smart Motor Market Size

Smart Motor Market was valued at over USD 2.3 billion in 2023 and is estimated to register a CAGR of over 6.5% between 2024 & 2032. The ability of compact & high-performance motor solutions to satisfy the demands of contemporary applications where space is constrained is boosting the industry. Owing to their increased efficiency, enhanced power density, and sophisticated control capabilities, these motors are suited for a variety of industries including consumer electronics, robotics, and automobiles. This will lead to market adoption & expansion.

For instance, in June 2023, Weinstadt, Germany-based Kelch, replaced the stepper motors in its product with Moog Animatics SmartMotor (model SM23165DT) to improve efficiency, reduce space, and protect workers’ hearing.

The increasing focus on reducing operational costs fuels the adoption of smart motors owing to their efficiency and predictive maintenance capabilities. These motors optimize energy consumption, leading to significant cost savings over time. Additionally, their ability to monitor performance and detect potential issues early minimizes downtime and maintenance expenses. This aligns with the overarching goal of organizations to streamline operations and improve profitability in a competitive market landscape.

Integrating new smart motor systems with the existing infrastructure creates a significant risk owing to potential compatibility issues and the requirement of costly retrofitting. This procedure might cause operational problems, and frequently calls for specialist understanding. It might also incur higher expenses and implementation-related downtime. These obstacles are impeding adoption and market expansion when it comes to ensuring smooth integration while retaining functionality.