Smart motors market is expected to grow substantially because of factors such as requirement of less on-site and wiring space, and cost reduction, while increasing an overall effectiveness of the equipment. Industrial, commercial, automotive, consumer electronics, and aerospace & defense sectors are chief areas of applications of smart motors.
A smart motor is programmable and intelligent system with capability to automatically control the frequency and voltage supply thus alter the torque and speed of a motor. Compared to the conventional motors that uses mechanical components. Smart motors use combination of electromechanical components in conjunction with sophisticated power electronics systems to control speed/torque and position of motor. Thus, smart motors have higher efficiency compared to conventional motors.
Increasing Demand for Cost Effective Solutions to Propels Growth of The Market
A major driver pushing growth in the global smart motors market is the increasing demand for cost effective and energy efficient solutions in industries and residential sectors. The application in the industrial sector accounted for a large share, followed by consumer electronics and commercial sectors in past few years. 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 a huge growth potential for smart motor-equipped control systems. Smart motors find a large application across chilled water system compressors because of their low energy consumption.
However, many organizations still lack information about measures that reduce energy usage, installation of energy-efficient solutions, information on various energy-efficiency opportunities, and the technologies for improving the performance of the utilized energy. This acts as a restraint in the market growth, resulting in a low rate of implementation of smart motors.
Developed Regions like North America to Push Demand of the Market
On the basis of regional analysis, North America is expected to lead the smart motors market followed by Asia Pacific. North America smart motor market is primarily driven by proactive government policies towards the deployment of energy efficient system to conserve energy coupled with high adoption of smart motors in home automation and in the automotive sector.
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