Motion Control Market worth $20.0 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 26, 2022 /PRNewswire/ -- According to the report "Motion Control Market by Offering (Actuators & Mechanical Systems, Motors, Motion Controllers, Drives, Sensor & Feedback Devices, Software & Services), System (Open-loop, Closed-loop), Industry and Region - Global Forecast to 2027", published by MarketsandMarkets™, the market size is expected to grow from USD 15.5 billion in 2022 to USD 20.0 billion by 2027, at a CAGR of 5.2% between 2022 and 2027. The growth of this market is driven mainly by surging adoption of automation in manufacturing facilities to ensure employee health and safety after the COVID-19 outbreak, the growing need for high-precision automated processes in manufacturing sector, and rising focus of governments on enforcing stringent measures to ensure workplace safety.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=98406125
The motion control market includes major Tier I suppliers like ABB, FANUC, Siemens, Rockwell, Mitsubishi Electric, and Yaskawa. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Rest of the World. COVID-19 has impacted their businesses as well, as multiple manufacturing facilities of players have shut down due to COVID-19 in 2020. According to the industry experts manufacturers are gradually realizing the importance of motion control more than ever. Additionally, a few technologies such as the Internet of Things (IoT), Artificial intelligence (AI), and machine learning (ML) are in high demand as they are essential for smooth functioning and help automate processes in manufacturing facilities.
Motors is expected to hold the largest market share of motion control market during the forecasted period due to growing demand of industrial automation in manufacturing industry
Motors are key components of motion control systems. With the rise in industrial automation, manufacturers have been emphasizing using energy-efficient motors. Energy-efficient motors offer various enhancements over standard motors in terms of parameters such as winding, quality of laminations, and others, which significantly reduce operating costs. Motors find a wide range of applications in industries such as semiconductor & electronics, food processing, petrochemicals, pharmaceuticals, healthcare, packaging, and paper & printing.
Motion control market for closed-loop system is estimated to be the fastest growing market during forecasted period
A closed-loop control system also known as feedback system, looks at the current output and alters it to the desired condition. the control action in these systems is based on the output. The adoption of closed-loop systems is high as the process is automated, and the error is reduced without human intervention. The closed-loop system can automatically adjust the systems' inputs, improve the stability of a system, reduce system sensitivity, increase robustness, and create a reliable system. Due to these factors, there is a surge in the adoption of a closed-loop systems.
Browse in-depth TOC on "Motion Control Market"
172 – Tables
40 – Figures
224 – Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=98406125
Automotive industry is expected to hold the major share of the motion control market during the forecast period
Closed-loop systems are designed to automatically achieve and maintain the desired output condition by comparing it with the actual condition. They do this by generating an error signal that is the difference between the output and the reference input. The closed-loop system can automatically adjust the systems' inputs, improve the systems stability, reduce system sensitivity, increase robustness, and create a reliable system without human intervention. Due to these factors, the adoption of the closed-loop system is increasing. In April 2022, Optimal Engineering Systems, Inc. (OES) launched a Figaro series of motion control systems with closed-loop configuration. To provide a closed-loop motion control system, this series can be configured with any combination of drivers for steppers, DC servo motors, and BLDC motors.
Asia Pacific is likely to be emerge as the fastest growing region during forecasted period
Asia Pacific is expected to be the fastest growing region in the global motion control market during the forecast period. The increase in urbanization and industrialization are surging the demand for motion control in the region. Additionally, the growth in Asia Pacific region is due to the rising adoption of automation technologies, such as robots, across several industries, increasing production of machine tools, and surging use of smartphones and automobiles, which require motion control systems to assemble electronics and semiconductor machinery.
ABB Ltd. (Switzerland), FANUC Corporation (Japan), Parker Hannifin Corporation (US), Rockwell Automation, Inc. (US), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Altra Industrial Motion Corp. (US) and Novanta Inc. (US) are few major players in the motion control market.
Related Reports:
Encoders Market by Type (Linear and Rotary), Technology (Optical, Magnetic, Inductive), Application (Automotive, Consumer Electronics, Industrial, Power, Healthcare), Signal Type, and Geography (2021-2026)
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/motion-control-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/motion-control.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article