Global Servo Motors and Drives Market 2020-2027 - Model-Matching Control Servo Technology Overcomes Drawbacks of Traditional PID Control

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Dec 18, 2020, 06:45 ET

DUBLIN, Dec. 18, 2020 /PRNewswire/ -- The "Servo Motors and Drives - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

COVID-19 Induced Accelerated Adoption of Automation Technologies Promise Faster Revival of Growth. Servo Motors & Drives to Reach $17.1 Billion

The global market for Servo Motors & Drives is expected to slump by -9.5% in the year 2020 and thereafter recover and grow to reach US$17.1 billion by the year 2027, trailing a post COVID-19 CAGR of 3.6% over the analysis period 2020 through 2027.

A vital part of robotics, automation and CNC machining, servo motors & drives are facing a temporary setback as a result of the slumping manufacturing sector & the economic and financial challenges created by the COVID-19 outbreak. The pandemic has however fast forwarded the world's migration to the fourth industrial revolution by accelerating digital evolution of industries & companies. The long predicted boom in robotics & automation is expected to come much faster than earlier forecasts and will play a key role in inducing a faster & more rapid recovery to growth.

Automation plays a key role in process improvement by eliminating repetition and redundancy, decreasing production time and costs, increasing production uptime, reducing risk of human errors, elevating employee work efficiency, and ensuring high level of compliance with environmental, occupational safety and health regulations. Adoption of automation technology enables enterprises to gain from improved quality of manufactured products, superior employee work efficiency, increased yield and reduced material wastage, and savings on capital and operating costs.

Besides the ongoing coronavirus crisis, the worldwide industrial sector is facing several other pressing challenges in the form of volatile raw material prices, harsh regulatory scenario, globalization-driven issues, and decreasing profitability. In order to stay competitive, manufacturers are increasingly focusing on improving the efficiency of their operations and productivity by modifying and modernizing their production processes and infrastructure.

Manufacturers are leaning towards automation of processes and systems that facilitate plant supervisors, managers, and engineers and workers monitor and manage plant operations in a more efficient and resourceful manner. To reap the benefits of automation, process engineers are deploying advanced Machine Vision, Human-Machine-Interface (HMI), Machine-Machine Interface (MMI), IoT Control & Data Aggregation technologies embedded with dedicated Supervisory Control and Data Acquisition Software (SCADA) that aid in gaining complete control over complex operations and processes.

Machine Vision and HMI infrastructure systems have already become common in programmable logic controllers (PLCs) and industrial control panels as these tools provide technicians the capability to select and finalize a pre-planned result from the automated equipment and its application.

By deploying HMI, PLC, industrial control panels, machine vision and other technologies, industrial entities can automate various functions such as turn on/off industrial valves, sensors, and alarms; view and monitor critical data in dashboards; control IoT devices and machines; execute push messages, repots, and KPIs; and turn mechanical operations into visual processes to identify and diagnose problems, among others.

Automation will play a vital role in enabling the companies to recover from the adverse effects of COVID-19 pandemic. In the long run, prospects remain promising due to the growing need for automation in industrial facilities. With process industries focused on plant automation in a bid to enhance productivity, reduce downtime, and conserve energy, there will be increased demand for servo motors and drives that are designed to support process automation.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Impact of COVID-19 Pandemic and Looming Global Recession
Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
Industrial Activity to Remain Subdued in the Immediate Term
An Introduction to Servo Motors and Drives
Global Prospects & Outlook
Competition
Recent Market Activity

2. FOCUS ON SELECT PLAYERS

ABB Group
Adtech (Shenzhen) Technology Co., Ltd.
Bosch Rexroth AG
Delta Electronics, Inc.
Emerson Electric Co.
FANUC Corporation
Kinco Automation India Pvt. Ltd.
Kollmorgen Corporation
Mitsubishi Electric Corporation
Rockwell Automation, Inc.
Schneider Electric SA
Siemens AG
Yaskawa Electric Corporation

3. MARKET TRENDS & DRIVERS

As Automation Becomes Part of Growing Industries, Processes and Factories, Demand Rises for Servo Motors & Drives
Factory Automation Systems to Spur Demand for Servo Motors and Drives
Servo Motors Find Use in Emerging Applications
Growing Use of Robotics in Industrial Facilities Gives Rise to Market Demand
Current Crisis Further Stresses the Importance of Robotics & Automation in Industrial Settings
Industry 4.0 and Smart Factories Trends Present Tremendous Potential for Servo Motors and Drives Market
Auto Industry's Shift towards Advanced and Efficient Automation Technologies Augurs Well for the Market
Recovery in Automotive Industry Post COVID-19 to Support Demand
Rising Prominence of Energy Efficient Electric Vehicles to Spur Demand for DC Servo Motors
Semiconductor & Electronics Industry Growth Determine Dynamics in Servo Motors and Drives Market
Virus Led Economic Recession Impacts Current Prospects for Semiconductor & Electronics Industry
Complex Operations and Intense Competition Fuel Need for Efficient Servo Motors in Textile Industry
Food Processing Industry Benefits from the Advent of Advanced Food-Grade Servo Motors
Medical Equipment Advancements to Enhance Need for Servo Motors & Drives
Servo Drives Market Poised for Long-Term Healthy Growth
Key Emerging Trends in Servo Drives Market
Model-Matching Control Servo Technology Overcomes Drawbacks of Traditional PID Control
Rising Use of Motor Control Components in Motors: Opportunity for the Market
Adoption of Energy Efficiency Standards Worldwide Supports Demand for Servo Motors & Drives
Advancements in Servo Drives and Motors Boost Market Prospects
Challenges Restraining Servo Motors and Drives Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 111

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