Robotic Smart Motors Market Size, Share, Regional Overview And Global Forecast To 2033
Global robotic smart motors market size is expected to reach $4.96 billion by 2028 at a rate of 6.1%, segmented as by component, hardware, software
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Overview and Scope
Robotic smart motors are advanced motor systems with integrated sensors and control electronics designed for precise motion control and automation in robotics, industrial automation, and autonomous vehicles. They enable high-precision movement, efficient energy use, and seamless integration with sophisticated control systems, enhancing productivity and adaptability in diverse applications.
Sizing and Forecast
The robotic smart motors market size has grown strongly in recent years. It will grow from $3.72 billion in 2023 to $3.92 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increasing demand for automation in manufacturing, emphasis on precision and accuracy in manufacturing, government initiatives supporting industrial automation, miniaturization of components, and improved energy efficiency standards.
The robotic smart motors market size is expected to see strong growth in the next few years. It will grow to $4.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growth of the automotive and electronics sectors, increasing complexity in manufacturing processes, enhancements in software capabilities for motor control, development of collaborative robots (cobots), and growth of industrial robotics. Major trends in the forecast period include advancements in sensor technology, technological innovations in motor control systems, integration of ai and machine learning in robotics, demand for smart and connected devices, and adoption of industry 4.0 principles.
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Segmentation & Regional Insights
The robotic smart motors market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Robot Type: Commercial, Defense
3) By Voltage: 12V, 18V, 24V, 36V, 48V, Above 48V
North America was the largest region in the robotic smart motors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the robotic smart motors 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 increasing adoption of Internet of Things (IoT)-based applications is expected to propel the growth of the robotic smart motors market going forward. IoT-based applications include integrating and utilizing interconnected devices and systems that gather, transmit, and analyze data for automated processes and insights across various sectors such as manufacturing, healthcare, and smart cities. The adoption of IoT-based applications is due to advancements in sensor technology, the proliferation of connected devices, demand for real-time data analytics, cost efficiencies in operations, and the drive towards automation and digital transformation across industries. Robotic smart motors enhance IoT-based applications by providing precise control, real-time data monitoring, and automation capabilities, improving efficiency and performance in various industries. For instance, in September 2022, according to a report published by Ericsson, a Sweden-based telecommunications company, global IoT connections reached 13.2 billion connections in 2022 and are expected to increase by 18% to reach 34.7 billion connections by 2028. Therefore, the increasing adoption of IoT-based applications is driving the growth of the robotic smart motors market.
Key Industry Players
Major companies operating in the robotic smart motors market are General Motors, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Nidec Corporation, Rockwell Automation Inc, WEG S.A., Yaskawa Electric Corporation, Moog Inc, Sick AG, Amazon Robotics LLC, Lenze GmbH & Co KG, Cruise LLC, Oriental Motor, Innovation First International Inc., Lin Engineering, Aeolus Robotics, Robeteq Inc, RobotShop Inc, Aerobotix, Accio Robotics, Technosoft SA
The robotic smart motors market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
……..
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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