Robotic Smart Motors Market Size is valued at USD 4.43 Bn in 2022 and is predicted to reach USD 6.75 Bn by the year 2031 at a 4.96% CAGR during the forecast period for 2023-2031.
Robotic smart motors are more advanced versions of conventional motors designed to be more efficient, dependable, and simple to incorporate into robotic systems. The Smart motor is an intelligent and programmable device frequently combined with servo motors. A smart motor consists of an encoder, motor, amplifier, input/output (IO), and controller, among other parts. Its major purpose is to adjust the voltage and frequency going into a motor to change the torque and speed.
Market growth is likely to be pushed by things like the rising need for smart motors in the industrial sector, the rising need for less onsite and wiring space, the increasing need for adjustable speed in applications like fan systems, pumping systems, and material handling, the increasing adoption of IoT based applications across a wide range of industries, the increasing adoption rate of industrial automation, and the rising number of research and development activities. Furthermore, these motors contribute to environmental friendliness by consuming less power than conventional models. This factor aligns with the rising emphasis on embracing eco-friendly practices and energy saving, propelling market expansion.
However, the market growth is hampered by the high-cost criteria for the safety and health of the robotic smart motors market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high humidity. The higher cost of smart motors stems from integrating complex electronics, sensors, communication modules, and specialized software, coupled with the necessity for training.
The long-term savings in energy, productivity, and maintenance costs more than offset the initial investment cost. Because of the government restrictions to address the effects of the virus, there may be a shortage of raw derivative types and persons, and supply chains may be affected, making it more difficult to meet contractual duties. The market felt the effects of the worldwide COVID-19 epidemic as governments in several nations tried to contain the virus, such as implementing lockdowns, which stunted industrial expansion.
Competitive Landscape
Some Major Key Players In The Robotic Smart Motors Market:
- ABB
- NIDEC Corporation
- Yaskawa Electric Corporation
- Rockwell Automation
- Schneider Electric
- Nanotec Electronic GmbH & Co KG
- Lenze
- Moog, Inc.
- Fuji Electric Co., Ltd.
- Siemens AG
- General Electric
- Dunkermotoren GmbH
- Technosoft SA
- RobotShop, Inc.
- Roboteq, Inc.
- Others
Market Segmentation:
The robotic smart motors market is segmented based on robot type, voltage, and component. As per the robot type, the market is divided into commercial and defense. Commercial category includes Industrial Robot, Service Robot, Medical Robot, Agricultural Robot, Inspection and Maintenance Robot, Cleaning Robot, Warehouse and Logistics Robot. Whereas the defence category includes Unmanned Aerial Vehicle (UAV), Unmanned Ground Vehicle (UGV), Unmanned Maritime Vehicle (UMV), Bomb Disposal Robot, Tactical Robot, Robotic Exoskeleton, Autonomous Weapon System. By voltage, it is divided into 12V, 18V, 24V, 36V, 48V, and above 48V. According to component, the market is categorised into hardware and software. The hardware segment comprises Motor, Encoder, Motor Controller, Communication Interface, Sensor, Power Electronics, Others.
Based on the robot type, the commercial robotic smart motors market segment is a major contributor to the robotic smart motors market.
The commercial robotic smart motors market is expected to hold a major global market share in 2022. This growth is driven by various different factors, including the increasing need for commercial automation in a wide range of business settings, the flexibility and efficiency of robotic smart motors, and the ongoing development of AI and ML technologies. Together, these forces propel the market forward by encouraging more organizations to embrace cutting-edge technologies that boost their productivity, quality, and competitiveness.
24V segment to witness growth at a rapid rate.
The 24V industry uses the majority of acrylic acid ester because of its optimal mix of economy and power. 24V motors are well-suited for applications that need precision and brute force, especially in countries like the US, Germany, the UK, China, and India.
In the region, the North American robotic smart motors market holds a significant revenue share.
The North American robotic smart motors market is expected to record the maximum market share in revenue in the near future. It can be credited to the increasing popularity of using autonomous robots in the service industry, technological advances, and growing investment, which has led to a boom in the robotics industry. In addition, Asia Pacific is projected to grow rapidly in the global robotic smart motors market because more and more sectors of the end-user industry in the region embrace automation. Increased use of low-voltage electrical equipment and the motivation of many companies to develop energy-efficient and compact electrical equipment and devices are also contributing to the rapid expansion of smart motors in the region.
Recent Developments:
- In March 2023, Moog Animatics is pleased to introduce the Smart Motor TM product family, a new selection of Class 6 D-type motors. These new models of the highly programmable Smart Motor servo system include a motor, battery-less multiturn absolute encoder, amplifier, and controller, as well as several different communication options like USB, dual port Industrial Ethernet (Ether CAT, PROFINET, Ether Net/IPTM), and standard and CAN connections.
- In March 2023, ABB Robotics expanded its portfolio of industry-leading logistics automation solutions with the introduction of the Robotic Item Picker. This vision-based and artificial intelligence-powered solution can precisely identify and select items from unstructured warehouse and fulfilment centre environments.
Robotic Smart Motors Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 4.43 Bn |
|
Revenue Forecast In 2031 |
USD 6.75 Bn |
|
Growth Rate CAGR |
CAGR of 4.96 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Robot Type, Voltage, Component |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ; France; Italy; Spain; India; South East Asia; South Korea |
|
Competitive Landscape |
ABB, NIDEC Corporation, Yaskawa Electric Corporation, Rockwell Automation, Schneider Electric, Nanotec Electronic GmbH & Co KG, Lenze, Moog, Inc., Fuji Electric Co., Ltd., Siemens AG, General Electric, Dunkermotoren GmbH, Technosoft SA, RobotShop, Inc., Roboteq, Inc., Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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