#133 Intelligent Motor Control Market is Slated to Witness Tremendous Growth in Coming Years

The global Intelligent Motor Control market reached a size of USD 4.32 billion in 2022 and is projected to attain USD 8.64 billion by 2032, with an anticipated revenue Compound Annual Growth Rate (CAGR) of 8% over the forecast period. The growth in market revenue is being propelled by several key factors, including the increasing adoption of automation across various industries, a growing demand for energy-efficient motor control systems, and a rising need for dependable and secure motor control solutions. Modern motor control systems, known as Intelligent Motor Control (IMCCs), play a pivotal role in integrating industrial motor power distribution and control. These systems enable real-time monitoring and control of motors, contributing significantly to enhancing the overall operational efficiency of industrial processes. The expanding need for automation across various sectors, such as manufacturing, mining, and oil and gas, is a primary driver behind the market's revenue growth. Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.reportsanddata.com/download-free-sample/7667 Furthermore, the market is expected to benefit from the growing consumer demand for energy-efficient motor control systems. IMCCs offer precise and real-time monitoring and control capabilities, allowing for the optimization of energy consumption in motor operations. The integration of IMCCs with the Industrial Internet of Things (IIoT) further enhances energy efficiency by providing solutions for energy management and Predictive Maintenance. Another key driver for the adoption of IMCCs in numerous industries is the increasing demand for dependable and secure motor control solutions. These systems come equipped with advanced safety features, including overload protection, fault detection, and warning systems, which significantly reduce the likelihood of motor failures and accidents in industrial processes. Additionally, the use of IMCCs in conjunction with sophisticated analytics and Machine Learning algorithms further enhances the dependability and safety of motor control systems. Strategic Development: In 2021, Siemens AG announced the acquisition of TimeSeries, a pioneer in machine learning and artificial intelligence (AI) based in California. This acquisition was aimed at strengthening Siemens’ digital offerings in the field of smart manufacturing and industrial automation. In 2021, Eaton Corporation PLC launched its new Intelligent Power Manager software that provides real-time monitoring and control of uninterruptible power supply (UPS) systems. This software helps in reducing downtime, energy consumption, and maintenance costs. In 2020, General Electric Company announced its partnership with Nokia to offer advanced analytics and machine learning solutions for the industrial Internet of Things (IIoT). This partnership was aimed at enabling Predictive Maintenance and real-time monitoring of industrial equipment. In 2019, ABB Ltd. launched its new intelligent motor control center, MNS-Up, which is designed to offer increased flexibility, efficiency, and safety in industrial applications. This motor control center uses the latest technology to provide real-time data on energy consumption and motor performance. In 2018, Rockwell Automation, Inc. acquired Emulate3D, a provider of engineering software that enables the simulation and emulation of automation systems. This acquisition was aimed at enhancing Rockwell Automation’s digital offerings and improving its ability to provide innovative solutions for its customers. Competitive Landscape: Siemens AG General Electric Company Eaton Corporation PLC Rockwell Automation, Inc. Schneider Electric SE ABB Ltd. Mitsubishi Electric Corporation Fuji Electric Co., Ltd. WEG S.A. Toshiba Corporation The global market is further segmented into type and application: By Type Outlook Conventional Motor Control Centers Intelligent Motor Control By Component Outlook Overload Relays Variable Speed Drives Soft Starters Others By Voltage Range Outlook Low Voltage Medium Voltage By End-Use Outlook Oil & Gas Chemicals & Petrochemicals Water & Wastewater Mining & Metals Food & Beverages Pulp & Paper Others Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region. North America (U.S., Canada, Mexico) Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Rest of APAC) Latin America (Brazil, Rest of LATAM) Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA) To request customization of this report @ https://www.reportsanddata.com/request-customization-form/7667 Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report. Browse More Reports: Aircraft MRO Market @ https://www.reportsanddata.com/report-detail/aircraft-mro-market Aircraft Sensor Market @ https://www.reportsanddata.com/report-detail/aircraft-sensor-market Assembly Fastening Tools Market @ https://www.reportsanddata.com/report-detail/assembly-fastening-tools-market Golf Cart NEV Market @ https://www.reportsanddata.com/report-detail/golf-cart-nev-market Automotive Blind Spot Detection System Market @ https://www.reportsanddata.com/report-detail/automotive-blind-spot-detection-system-market About Reports and Data Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help clients make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Contact Us: John W (Head of Business Development) Reports and Data | Web:www.reportsanddata.com Direct Line:+1-212-710-1370 E-mail:sales@reportsanddata.com Blogs|Press Release|Industry News|Our competencies Browse MoreUpcoming Reports @https://www.reportsanddata.com/upcoming-reports Browse More Latest Reports @https://www.reportsanddata.com/report