Global Analog Servo Motors and Drives Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
Analog servo motors and drives are electromechanical systems used for precise control of motion in various industrial applications. These components operate based on analog signals to regulate speed, position, and torque accurately. Analog servo motors and drives are well-suited for systems that utilize analog control signals, providing compatibility with existing control architectures.

Sizing and Forecast
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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Segmentation & Regional Insights
The analog servo motors and drives  market covered in this report is segmented –
1) By Drive : AC Drive , DC Drive
2) By Voltage Range : Low Voltage , Medium Voltage , High Voltage
3) By Application: Extreme Environment Applications, Semiconductor Machinery, Automated Guided Vehicle (AGV), Electronics, Other Applications

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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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

The analog servo motors and drives market report table of contents includes:
1. Executive Summary
2. Analog Servo Motors And Drives Market Characteristics
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