Servo Motors and Drives Market: An Exclusive Study on Upcoming Trends and Growth Opportunities
The increasing demand for smart manufacturing integrated with energy-efficient devices in the industrial sector is an important driver for the servo motors and drives market.
The global servo motors and drives market size will grow to USD 15.8 Billion by 2027 from USD 12.0 Billion in 2022, at a CAGR of 5.7% during the forecast period.
Key Market Players:
The servo motors and drives market...
Servo Motors and Drives Market Will Escalate Rapidly in the Near Future
The global servo motors and drives market is expected to grow at a CAGR of 5.7% to USD 15.8 billion by 2027, up from an estimated USD 12.0 billion in 2022. The rising trends of automation and Industry 4.0, are improving the productivity and reliability of production processes in industries of various countries is driving the market for servo motors and drives.
The rise in smart manufacturing initiatives...
Servo Motors and Drives Market to Hit $15.8 billion by 2027
According to a research report “Servo Motors and Drives Market by System (Linear, Rotary), Communication Type (Fieldbus, Industrial Ethernet, Wireless), Voltage (Low, Medium, High), Brake Technology, Material, Product Type, End-users, Offering and Region – Global Forecast to 2027″ published by MarketsandMarkets, the servo motors and drives market is expected to grow at a CAGR...