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Integrated Drive Systems Market


Semiconductor & Electronics
Electrical System & Components

According to MarketsandMarkets’ forecast, the integrated drive systems market, in terms of value, is expected to grow from USD 23.89 Billion in 2015 to USD 38.27 Billion by 2022, at a CAGR of 6.80% between 2016 and 2022. The major drivers for the market include the advancement and rapid growth in automation, increasing adoption of energy-efficient international standards and integrated drive systems, increased focus on efficiency and reducing production cost, and regulations on energy efficiency.

This report covers the integrated drive systems market based on offering, industry, communication protocol, and geography. The automotive and transportation industry is expected to hold the largest share of the drive systems market during the forecast period. The market for water and wastewater management industry is expected to grow at the highest rate during the forecast period.

The automotive and transportation industry held the largest size of the integrated drive systems market in 2015. Rapid changes in terms of manufacturing technology, innovation, and technical advancements in the automotive industry are expected to drive the market for integrated drive systems. There is a high demand for integrated drive systems across the globe as they help enhance the efficiency of production and manufacturing facilities in the automotive industry.

The market for software is expected to grow at the highest rate between 2016 and 2022. Software is used for various purposes in drive systems such as motion controlling and networking. The increasing demand for networking software is expected to drive the market for software during the forecast period.

The market for wireless communication protocol is expected to grow at the highest rate between 2016 and 2022. The number of wireless connections in drive systems has increased considerably over the past few years as a result of improved network coverage, quality of transmission, and bandwidth capacity. Advancements in wireless communication technologies, especially WHART, cellular, and WLAN, are helping manufacturing industries to remotely monitor their assets from anywhere in the world. High speed and ease of installation of wireless networks are making them popular as they can be deployed in drive systems even in extreme environments.

Integrated Drive Systems Market

APAC held the largest share of the integrated drive systems market in 2015 owing to the high demand for faster and accurate motors and drives to achieve higher production output. Massive investment in the manufacturing industry is driving the growth of the market in the region. The market in APAC is expected to grow at the highest rate during the forecast period.

The major challenges for the companies in the market are lack of skilled workforce and trained workers and lack of standardization of equipment. The major vendors in the drive systems market include Siemens AG (Germany), Schneider Electric (France), Rockwell Automation, Inc. (U.S.), ABB Ltd. (U.S.), and Emerson Electric Co. (U.S.). These players adopted various strategies such as new product developments, mergers, partnerships, collaborations, and expansions to cater to the needs of customers.

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