Market Size – USD 789.63 Million in 2021, Market Growth - CAGR of 5.20%, Market Trends –the increasing demand from electronics industry is widening the scope for Intelligent Motor Controller Market.
According to the current analysis of Introspective Market Research, the global Intelligent Motor Controller Market was valued at USD 789.63 Million in 2021 and is expected to reach USD 1125.99 Million by the year 2028, at a CAGR of 5.20%.
The criteria for low-cost three-phase motor systems are met by an intelligent motor controller. It provides a similar or greater level of capability than a standard motor control center at a lower cost, enhancing the value of plant components. Network configuration, diagnostics, and improved protection for each unit are just a few of the benefits of an intelligent motor controller. A key growth factor for the worldwide intelligent motor controller market is the potential of intelligent motor controllers to save energy. In the future years, the intelligent motor controller market is predicted to develop due to rising automation methods in major end-use sectors such as oil and gas, power production, and waste and wastewater treatment. In the future, improved motor efficiency is projected to fuel growth in the intelligent motor controller market.
The global rate of motor adoption is strong, and numerous industries such as power generation, food and beverage, manufacturing, and others benefit from a large number of motor installations. To supplement their savings and cost reduction, these industries place a premium on the development of efficient motors. This is a major driving force behind the worldwide intelligent motor controller market's expansion. Furthermore, the growing need for smart devices to enhance efficiency is fueling the use of intelligent motor controllers and is expected to be a major driver of market expansion. Finally, widespread adoption of current technologies such as the Internet of Things (IoT) and Artificial Intelligence in industrial automation to boost productivity is expected to be a key trend driving market expansion.
Intelligent Motor Controller Market Report Highlight
- By motor type, the AC segment is likely to capture the maximum market growth throughout the forecast period.
- By voltage, the low voltage segment is anticipated to hold the highest intelligent motor controller market growth over the forecast period.
- By industry, the oil and gas segment are anticipated to capture the largest intelligent motor controller market growth during the forecast period.
- During the projection period, Asia Pacific is expected to be the largest market. Because of the region's expanding urbanization and industrialization, intelligent motor controllers are projected to be in high demand.
Intelligent Motor Controller Market Segmentation:
By Motor Type
- Food & Beverage
- Oil & Gas
- Chemicals & Petrochemicals
- Water & Wastewater
- Power Generation
- Metals & Mining
- Cement & Aggregates
Major Key Players for Intelligent Motor Controller Market:
- ABB (Switzerland)
- General Electric (U.S.)
- Rockwell Automation (India)
- Mitsubishi Electric (Japan)
- Siemens AG (Germany)
- Larsen & Toubro (India)
- Schneider Electric (France)
- Lsis Co. Ltd. (South Korea)
- Nanotec Electronic GmbH & Co. (Germany)
- NXP Semiconductors (Netherlands)
- Fairford Electronics (U.S.)
- Roboteq Inc. (U.S.)
For this report, Introspective Market Research has segmented the Intelligent Motor Controller Market based on of region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM