Global Integrated Drive System Market: Snapshot
The global integrated drive system market is prognosticated to be encouraged for a strong growth on the back of wireless communication protocol expected to record a higher demand during the forecast period 2017–2025. Over the course of past few years, the count of wireless connections in drive systems has augmented noticeably. This could be due to improved bandwidth capacity, transmission quality, and network coverage.
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Wireless communication technologies such as cellular, wireless local area network (WLAN), ZigBee, International Society of Automation (ISA) 100.11a, and wireless highway addressable remote transducer protocol (WHART) are anticipated to set the tone for a significant growth in the global integrated drive system market. Manufacturing industries could be helped with developments in technologies such as WLAN, cellular, and WHART for remote monitoring of their assets from anywhere around the globe.
The demand in the global integrated drive system market is also prophesied to be elevated by the growth of networking software during the forecast years. Besides networking, software could be engaged by drive systems for various other purposes such as motion controlling. As a result, the software market could register an overpowering share in the coming years.
Players operating in the global integrated drive system market are envisaged to take to different business strategies such as expansions, collaborations, partnerships, mergers, and new product developments for catering to the needs of customers. This is also anticipated to help them rise above the challenges posed in the market and secure a decent share.
Integrated Drive System Market: Overview
The demand for industrial automation is poised to rise due to the increased need of high product quality combined with expectations of highly reliable operations in high-volume production. One of the key elements of process automation is integrated drive systems as they not only provide high accuracy and efficiency but have low maintenance cost as well.
With the increasing demand for automobiles, the automotive industry has been displaying rapid changes with respect to manufacturing technology for increased automotive production. Across the globe, the automotive industry displays a high demand for integrated drive systems as they enhance production efficiency and upgrade manufacturing infrastructure in the automotive industry. Some of the applications of integrated drive systems in the automotive and transportation industry include pumps, compressors, conveyors, rack feeders, fans, axial winders, and extruders.
The report provides insights into the integrated drive system market based on communication protocol, offering, and geography. A detailed assessment of the top industry players has been provided for their attributes of products and services, business positioning, and key growth strategies such as mergers and acquisitions, collaborations, and partnerships in the integrated drive system market.
The report provides market size estimates for various segments and sub-segments that have been calculated based on data collected through primary and secondary research. The report provides facts and figures relevant to the global integrated drive system in a chronological manner.
Integrated Drive System Market: Trends and Opportunities
The top drivers of the integrated drive system market include increasing adoption of integrated drive systems in industrial automation, increased focus on improved vehicle efficiency and reduced production cost, regulations on energy efficiency, and increasing adoption of energy-efficient integrated drive systems that conform to international standards. The rising demand for increased energy efficiency in production processes combined with the requirement of software systems is also fostering the growth of the global market for integrated drive systems.
In addition, the demand for hardware component is expected to rise and will have a positive impact the market’s growth. Some of the hardware components in integrated drive systems include converters, geared motors, couplings, motors, gear units, and others.
Besides this, the increasing need for treating wastewater is expected to have a positive influence on the growth of the integrated drive system market. This is because increasing concerns of declining groundwater levels and water scarcity has necessitated the advent of newer ways for wastewater treatment. Pumps, compressors, and fans are some of the major components with integrated drive systems that are used in wastewater treatment activities.
However, high costs involved in the implementation and maintenance of integrated drive system solutions is hindering the market’s growth. In addition, lack of skilled personnel and lack of standardization of equipment are also holding back the market’s growth.
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Integrated Drive System Market: Regional Overview
The global integrated drive system market can be analyzed with respect to the regional segments of North America, Asia Pacific, Europe, and Rest of the World. Amongst these, Asia Pacific stood as the dominant regional segment in the recent past due to the increasing demand for faster and accurate motors and initiatives to achieve higher production output. Huge investments in the manufacturing sector are also driving the integrated drive system market in this region. Asia Pacific is expected to display the highest growth rate in the near future.
Major Companies Mentioned in Report
Some of the key vendors in the integrated drive system market include Siemens AG, Rockwell Automation Inc., Emerson Electric Co., Schneider Electric, and ABB Ltd.