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The Worldwide Servo Motors and Drives Industry is Expected to Reach $15.8 Billion by 2027DUBLIN, Nov. 15, 2022 /PRNewswire/ -- The "Servo Motors and Drives Market by System (Linear, Rotary), Communication Type (Fieldbus, Industrial Ethernet, Wireless), Voltage (Low, Medium, High), Brake Technology, Material, Product Type, End-users, Offering and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering. The servo motors and drives market size will grow to USD 15.8 Billion by 2027 from USD 12.0 Billion in 2022, at a CAGR of 5.7% during the forecast period. The increase in motion control equipment's required for automation in major industrial sectors is driving servo motors and drives market Hardware segment is expected to emerge as the largest segment based on offering for the servo motors and drives market The servo motors and drives market has been segmented into hardware, software and services. The hardware segment is projected to larger share during the forecast period. This is due to the widespread use of servo motors and drives components, which together constitute the hardware segment. The major reasons behind the growing demand for servo motors and drives include the rapid growth and advancements in industrial automation. Setting up automation requires servo motors and drives, which offer a high level of precision, accuracy, and torque with low maintenance costs Servo Drives segment is expected to be the fastest growing segment of the servo motors and drives market, by product type Based on product type the servo motors and drives market is segmented into servo motors and servo drives. Servo drives have observed high demand since the last few years, driven by advancements in servo systems, which has facilitated easy customization. Advancements, in turn, have led to increased use of servo drives in industrial control systems, warehouse automation, and robotics. Asia Pacific is expected to be the largest market during the forecast period. The Asia Pacific is expected to be the largest growing market in the servo motors and drives market. The growth of the market in Asia Pacific can be attributed to the flourishing electronics market in India, China, Taiwan, and Japan. These countries are the leading markets for consumer electronics, such as smartphones, home appliances, kitchen appliances, smart home devices, remote control solutions, wearable devices, and other battery-operated electronic products. The growth of the servo motors and drives market in Asia Pacific can also be attributed to its booming automotive manufacturing sector. The sector has witnessed rapid changes in terms of manufacturing technologies to enhance automotive production and manufacturing facilities. These changes are projected to catalyze the adoption of servo motors and drives in the Asia Pacific region. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 5.2.3 Opportunities 5.2.3.1 Need for Feedback Control in Servo Systems Driving Demand for Encoders 5.2.3.2 Growth in Adoption of Smart Manufacturing Initiatives in Industries 5.2.4 Challenges 5.2.4.1 Supply-Chain Disruptions in Steel Industry 5.2.4.2 Shortage of Skilled Workforce to Handle Complexities in Automated Manufacturing Facilities 5.3 Trends/Disruptions Impacting Customers' Businesses 5.3.1 Revenue Shift and New Revenue Pockets 5.4 Value Chain Analysis 5.4.1 Raw Material Providers/Suppliers 5.4.2 Component Manufacturers 5.4.3 Manufacturers/Assemblers 5.4.4 End-Users 5.4.5 Post-Sales Service Providers 5.5 Market Map 5.6 Average Selling Price Trend 5.7 Technology Analysis 5.8 Trade Analysis 5.9 Tariff and Regulatory Landscape 5.10 Porter's Five Forces Analysis 5.11 Key Stakeholders and Buying Criteria 5.12 Innovations and Registered Patents 5.13 Case Study Analysis 5.13.1 Motion Control Motors and Drives Designed with Cutting-Edge Technology Accelerate Bottle Labeling 5.13.2 Troubleshooting Motion Control System Using Moog Animatics Smart Motor Data 5.14 Key Conferences and Events, 2022-2023 6 Servo Motors and Drives Market, by Offering 7 Servo Motors and Drives Market, by Product Type 8 Servo Motors and Drives Market, by Voltage 9 Servo Motors and Drives Market, by System Type 10 Servo Motors and Drives Market, by Brake Technology 11 Servo Motors and Drives Market, by Material of Construction 12 Servo Motors and Drives Market, by Communication Type 13 Servo Motors and Drives Market, by End-User 14 Regional Analysis 15 Competitive Landscape 16 Company Profiles 17 Appendix For more information about this report visit https://www.researchandmarkets.com/r/dvyqs1 Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1904 Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/the-worldwide-servo-motors-and-drives-industry-is-expected-to-reach-15-8-billion-by-2027--301678737.html SOURCE Research and Markets |