Smart Motors Market by Component VSD, MCC, Motor, by Application Industrial, Commercial, Automotive,

The report aims at estimating the market size and future growth potential of the smart motors market based on different components and applications across regions. The base year considered for the study is 2014 and the market is forecast from 2015 to 2020. The market on the basis of component has been classified into variable speed drive, motor control center, and motors. Based on applications, the market has been segmented into industrial, commercial, automotive, consumer electronics, and aerospace & defense sectors. The market on the basis of geography has been segmented into the Americas, Europe, APAC, and RoW. Considering the increasing demand for smart motors in the industrial and commercial sectors, the growth of this market is estimated to be high. Also considering the technical benefits achieved using variable speed drives and intelligent motor controllers, the installation rate of smart motors is projected to increase by 2020.

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Industrial, commercial, automotive, consumer electronics, and aerospace & defense sectors are applications areas of smart motors. The application in the industrial sector accounted for a large share, followed by consumer electronics and commercial sectors in 2014. The industrial sector is expected to provide the highest growth potential for smart motors, followed by the commercial sector, during the forecast period. In commercial applications such as packaged and unitary air-conditioner systems and air distribution fans, the demand for variable speed fan control is likely to increase, thus offering huge growth potential for smart motor-equipped control systems. Smart motors find a large application across chilled water system compressors because of low energy consumption.

The Americas accounted for the largest share of the smart motors market in 2014, followed by Asia-Pacific and Europe. The North American region is expected to dominate the market in the Americas. The industrial sector is expected to be the fastest-growing market for smart motors, during the forecast period. Smart motors and related components such as variable speed drives and control ICs are used in several industrial applications such as automated machinery, industrial sewing machines, and stage lighting among others. This proves to be a driving factor for the market to grow in the industrial sector.

The research methodology used to estimate and forecast the smart motors market began with capturing data on key vendor revenue through the secondary research. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global  market from the revenue of key players in the market. After arriving at the overall market size, the total market has been split into several segments and sub-segments which have then been verified through the primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedure has been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments.