Rise in industry automation globally, growth in focus on advancement of production efficiency, coupled with strict government mandates for an efficient use of energy drives the demand for integrated drive systems market
The global integrated drive systems market size is anticipated to reach at USD 35 billion by 2025. Integrated drive systems comprises motor, variable frequency drives, and coupling components for avoiding fault detection and systems failure. The combination of these components leads in integrated drive systems. These systems have a range of applications in numerous end-user industries.
Factors such as growth in adoption of integrated drive systems within manufacturing and automotive sector along with demand for energy-efficient systems is likely to spur the growth of the industry over the forecast period. 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. However, high investments and heavy maintenance costs associated with these systems is anticipated to restrict the growth of integrated drive systems market.
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.
The global integrated drive systems market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global integrated drive systems market is a wide range to North America, Europe, APAC, 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.
Segment Overview of 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