The global motors and drives services market is forecast to grow at a CAGR of 5.82% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: One trend spurring growth is the adoption of analytics for predictive maintenance. Service providers are using analytics and statistical models in their maintenance tool to obtain real-time data, facilitate prompt identification of errors, and enhance the decision-making process.
Major vendors such as Siemens in partnership with SAP are creating a new open cloud platform for industry users. The platform will use SAP HANA Cloud Platform technology to record large volumes of data from plant equipment and systems.
According to the report, one driver that will lead to the growth of this market is the increased outsourcing of service and maintenance operations. Globally, both process and discrete industries are now adopting third-party services to satisfy service maintenance requirements for key components such as drives and motors.
Over 400 motors and drives from different OEMs are routinely deployed in a typical manufacturing plant. The third-party service provider offers a single comprehensive solution, which addresses all the needs of maintenance and service portfolios of drives and motors, irrespective of the services from respective OEMs.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Emerson Electric
- Rockwell Automation
- Allied Motion Technologies
- ARC Systems
- Franklin Electric
- Fuji Electric
- General Electric
- Mitsubishi Electric
- Schneider Electric
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key takeaways
PART 16: Appendix
PART 17: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/blhg8m/global_motors_and
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SOURCE Research and Markets