PUNE, India, December 2, 2016 /PRNewswire/ --
The report "Integrated Drive Systems Market by Offering (Hardware, Software, and Services), Communication Protocol (Fieldbus, Industrial Ethernet, and Wireless: WHART, ISA100.11a, ZigBee, WLAN, Cellular), Industry, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to grow from USD 23.89 Billion in 2015 to USD 38.27 Billion by 2022, at a CAGR of 6.80% between 2016 and 2022.
Browse 66 market data Tables and 70 Figures spread through 175 Pages and in-depth TOC on "Integrated Drive Systems Market"
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The advancement and rapid growth in the automation and adoption of energy-efficient international standards are some of the significant growth drivers for the drive systems market.
Hardware component expected to lead the drive systems market
The hardware component is expected to hold the largest share of the Integrated Drive Systems Market between 2016 and 2022. The hardware components integrated in a drive system include converters, motors, geared motors, gear units, couplings, and others. Drive systems are the key components in the automation industry; these systems are highly accurate and efficient and have low maintenance costs.
Integrated drive systems market for water and wastewater management industry expected to grow at the highest rate during the forecast period
The increasing concerns over water scarcity and declining groundwater levels led to the advent of various innovative ideas to treat wastewater. Wastewater is a combination of contaminated water from residences, business buildings, institutions, and factories. With technological advancements, the process of water treatment has become fully automated; this helps save time and assures better quality output. The major applications of integrated drive systems in the waste and wastewater management industry are in pumps, fans, and compressors.
APAC held the largest share of the integrated drive systems market in 2015
APAC held the largest share of the drive systems market in 2015. The reason for this growth is increasing industrial activity along with the high demand for faster and accurate drive systems to achieve a higher production output. The increasing demand for energy-efficient production processes coupled with the need for software systems is fostering the growth of the integrated drive systems market. The high growth observed in machine tool production and other sectors related to the production of machines and automobiles, which includes electronics assembly, semiconductor machinery, and customized robots for different applications, is one of the reasons for the growth of the integrated drive systems market in the APAC region.
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Some of the major players in the integrated drive systems market are Siemens AG (Germany), Bosch Rexroth AG (Germany), Schneider Electric (France), Rockwell Automation, Inc. (U.S.), ABB Ltd. (U.S.), Emerson Electric Co. (U.S.), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), TQ Group GmbH (Germany), and Integrated Drive Systems (U.S.).
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