At a compound annual growth rate of 5.3%, the size of the worldwide Integrated Drive Systems market is projected to reach US$ 40328.57 Mn in 2027.
The rising awareness about the significance of integrated drive systems is recognized to be one of the main trends backing the growth of this industry. Manufacturing and industrial facilities incur heavy operational expenses owing to a substantial energy consumption. The high demand for energy-efficient equipment has spurred the adoption of industrial automation solutions that enable in efficiently utilizing the components and drive trains involved.
Integrated drive systems includes assembly of a suite of components that are integrated and connected with each other together with industrial automation & control system. The system offers a seamless and reliable integration solution, which is way more than the summation of its discrete components. Each integrated drive system is customized as per the industrial specifications, leading to a reduction in manufacturing and engineering time along with improvement in efficiency. This helps enterprises reduce their total expenses of ownership and enhance improve reliability performance enhancement.
Integrated Drive Systems Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2027||US$ 40328.57 Mn|
|Growth Rate||CAGR of 5.3 % during 2021-2027|
|Segment Covered||By Type, vertical, component, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Schneider Electric SE, Rockwell Automation Inc., Bosch Rexroth AG, Emerson Electric Company, ABB Ltd., Mitsubishi Electric Corporation, Siemens AG, Integrated Drive Systems Pvt. Ltd, Yaskawa Electric Corporation, TQ Group GmbH, Emerson, Eaton, LLC|
Key Segments of the Global Integrated Drive Systems Market
Component Overview, 2018-2025 (USD Billion)
Type Overview, 2018-2025 (USD Billion)
- Industrial Ethernet
End-Use Overview, 2018-2025 (USD Billion)
- Automotive & Transportation
- Oil & Gas
- Food & Beverages
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global integrated drive systems market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global integrated drive systems market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the integrated drive systems industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, type, and end-user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global integrated drive systems market. The report will benefit:
- Every stakeholder involved in the integrated drive systems market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global integrated drive systems market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global integrated drive systems market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Rise in industry automation globally, growth in focus on advancement of production efficiency, coupled with strict government mandates for an efficient use of energy are the factors responsible for the growth of integrated drive systems market in the past few years. The integrated drive systems is beneficial for industrial automation and ensures compatibility with other systems or machines, thus, simplifying manufacturing, amplifying consistency, and leaner commissioning of the whole system. Moreover, it also offers high level accurate monitoring and control, thus, enabling optimal use of raw materials and energy resources. Integration of drive systems technology into the complete integrated automation (TIA) portal profoundly streamlines commissioning, diagnostics, and engineering work. However, high costs associated with these systems is anticipated to hinder the market growth. Potential buyers are abstaining from adoption of integrated drive system within their businesses, due to the high operational expenses involved. On the other hand, with the development in the technology concerning to the integrated drive system, cost of these systems is likely to reduce in coming five to seven years.
The global integrated drive systems market contains hardware, software, and service segment. The hardware segment has maximum revenue share within the global integrated drive systems market in 2019. The industry participants within the integrated drive systems market are focusing on building innovative components that are robust, cost-effective, and deliver best output by consuming limited energy resources. However, the service segment is likely to grow at a staggering rate in the next five years.
Based on the type segment, the market is bifurcated into three sub-segments that are fieldbus, industrial ethernet, and wireless. In 2019, the industrial ethernet segment gathered the largest market revenue and it is anticipated to govern the integrated drive systems market throughout the forecast period. However, the wireless segment is anticipated to grow at a substantial growth rate over the forecast period.
Based on the end-user, the market is segmented into automotive & transportation, chemical, oil & gas, pharmaceutical, food & beverages, others. The market for manufacturing is anticipated to possess the largest market share in 2019 since the manufacturing companies today are predominantly developing to match their user needs. Moreover, the growing regulatory scrutiny coupled with improved product efficiency, as well as advantages such as risk management, and customized solutions are some of the factors responsible for the integrated drive systems demand.
The global integrated drive systems industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. North America is considered a mature market in the integrated drive systems applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the integrated drive systems market in North America.
The major players of the global integrated drive systems market are Siemens AG, Rockwell Automation, Schneider Electric, Mitsubishi Electric Corporation, ABB, YASKAWA ELECTRIC CORPORATION, British Steel Corp, Nippon Steel, Emerson Electric, Bosch Rexroth, and more. The integrated drive systems market is fragmented with the existence of well-known global and domestic players across the globe.