The analog servo motors and drives global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Analog Servo Motors and Drives Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The analog servo motors and drives market size has grown strongly in recent years. It will grow from $9.6 billion in 2023 to $10.4 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to growing industrial automation driving demand, increasing adoption of international energy-efficient standards and regulations, demand for precise motion control solutions, rising demand for energy-efficient and cost-effective servo motors and drives.
The analog servo motors and drives market size is expected to see strong growth in the next few years. It will grow to $13.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rising demand for industrial robotics, rising demand for high-performance and reliable equipment, huge application of servo sotors and drives in printing presses and paper converting machinery. Major trends in the forecast period include advancements in technology, integration with IoT technology, expansion of smart manufacturing, expansion of automated guided vehicles, strategic partnership and collaboration.
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Scope Of Analog Servo Motors and Drives Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Analog Servo Motors and Drives Market Overview
Market Drivers –
The rising demand for automation in manufacturing processes is expected to propel the growth of analog servo motors and drives market going forward. Automation in manufacturing refers to the use of technology, machinery, and control systems to perform tasks and processes with minimal human intervention. Automation is increasing in manufacturing due to its ability to drive cost savings, improve productivity, enhance quality, address labor challenges, enable digital transformation, and meet the demands of a rapidly changing marketplace. The analog servo motors and drives market facilitates increasing automation in manufacturing by providing precise motion control solutions essential for automated machinery, enabling efficient production processes and reducing reliance on manual labor. For instance, in October 2021, according to the International Federation of Robotics (IFR), a Germany-based professional non-profit organization the global robot installations in the automotive sector alone increased by 16% in 2021 compared to the previous year. Therefore, the rising demand for automation in the manufacturing process is driving the growth of the analog servo motors and drives market.
Market Trends –
Major companies operating in the analog servo motors and drives markets are focusing on integrating I/O expansion options to extend feature and enhance their market offering. I/O expansion option refer to additional hardware components that extend the input/output capability of a main controller or system beyond its built-in. It is employed in machine-building applications where motor technologies with voltages between 200 and 480 V and powers between 0.25 and 7.5 kW are needed. For instance, in January 2024, Aerotech Inc., a US-based precision motion control and automation company, launched automation1 XA4 and iXA4 PWM servo drives, which is compact, economical single-and multi-axis servo drives. Automation1 XA4 and iXA4 PWM servo drives provide precision motion control at a reduced cost. The new products include full motion controllers and I/O expansion options, making them suitable for a range of applications. The Automation1 XA4 and iXA4 PWM servo drives are part of this new line, offering streamlined and cost-effective solutions for motion control applications. These products are designed to provide high performance and integrated motion control for up to 12 axes.
The aerospace support and auxiliary equipment market covered in this report is segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space
Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
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Regional Insights –
North America was the largest region in the analog servo motors and drives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the analog servo motors and drives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major companies operating in the analog servo motors and drives market are Hitachi Ltd., Siemens AG, Panasonic Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Nidec Corporation, Parker Hannifin Corporation, Emerson Electric Co., Delta Electronics Inc., Danfoss A/S, Rockwell Automation Inc., Bosch Rexroth AG, Fanuc Corporation, AMETEK Inc., WEG S.A., SEW-EURODRIVE GmbH & Co KG, Yaskawa Electric Corporation, Moog Inc., Fuji Electric Co. Ltd., Lenze SE, Pilz GmbH & Co. KG, Oriental Motor Co.Ltd., Nippon Pulse Motor Co. Ltd
Table of Contents
1. Executive Summary
2. Analog Servo Motors and Drives Market Report Structure
3. Analog Servo Motors and Drives Market Trends And Strategies
4. Analog Servo Motors and Drives Market – Macro Economic Scenario
5. Global Analog Servo Motors And Drives Market Size and Growth
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32. Global Analog Servo Motors And Drives Market Competitive Benchmarking
33. Global Analog Servo Motors And Drives Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Analog Servo Motors And Drives Market
35. Analog Servo Motors And Drives Market Future Outlook and Potential Analysis
36. Appendix
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