According to the latest report by IMARC Group, the global servo motors and drives market reached a value of US$ 12.3 Billion in 2020. Looking forward, the market expected to grow at a CAGR of 5.2% during 2021-2026.
Servo motors and drives are automated linear or rotary actuators used for position control in several industrial machinery, such as conveyor belts, packaging machines, food processing units, semiconductors, etc. They are an essential component of the servo motor controller and operate in closed-loop mechanisms for the controlled rotational speed of the motors. Some of the common types of servo motors and drives include simple direct current (DC) brushless, brushed, linear servo motors and alternating current (AC) motors and drives. They are widely adopted across numerous industries, such as oil and gas, petrochemical, healthcare, packaging, automotive, etc.
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The advent of Industry 4.0 has led to an increasing penetration of automation trends across diverse industry verticals, thereby driving the market for servo motors and drivers. Additionally, the growing adoption of industrial robots for various large-scale applications, such as assembly, pick-up, and manufacturing, is also propelling the product demand. Moreover, several technological advancements have led to the integration of servo motors and drivers with Internet-of-Things (IoT) and artificial intelligence (AI). Besides this, the increasing utilization of lightweight materials in gear systems for remotely assisted products, such as drones and small-sized robots, is also augmenting the market for servo motors and drivers.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Servo Motors and Drives Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being Amgen Inc., AstraZeneca PLC, Daiichi Sankyo Company Limited, Eli Lilly and Company, Esperion Therapeutics Inc., GlaxoSmithKline Pharmaceuticals Limited (GlaxoSmithKline Plc), Immuron Limited, Ionis Pharmaceuticals Inc., Merck & Co. Inc., Pfizer Inc. and Sanofi S.A.
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The report has segmented the market on the basis of Product Type, Voltage Range, System, Offering, Communication Protocol, End Use and Region.
Market Breakup by Product Type:
AC Servo Motor
DC Brush Less Servo Motor
Brushed DC Servo Motor
Linear Servo Motor
AC Servo Drive
DC Servo Drive
Adjustable Servo Drive
Market Breakup by Voltage Range:
Medium and High Voltage
Market Breakup by System:
Market Breakup by Offering:
Software and Services
Market Breakup by Communication Protocol:
Market Breakup by End Use Industry:
Oil and Gas
Semiconductor and Electronics
Chemicals and Petrochemicals
Market Breakup by Region:
Middle East and Africa
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