Global Motor Management Market is valued approximately USD 3.4 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.35% over the forecast period 2020-2027. Motor management involves planning ahead, making decisions before a motor fails. The motor management incudes the true cost of operating motors to save energy, reduce downtime and maintenance costs. It is communication network between motors and related components, that collects data via sensors. This data is used to make decision and helps to prevent the assets. The rising demand for smart, multifunctional, integrated motor control and protection devices and need for reducing unplanned industrial downtime are the factors responsible for the growth of the market over the forecast period. Motor Management is used in wide range of industries including Oil & Gas, Metals & Mining, Power Generation, Chemicals, Cement, Food & Beverages, Agriculture, Water Supply and Wastewater Treatment and other industries. Thus, rising demand of motor management from various end- use industries will further drive the market growth. Moreover, the introduction of products and services along with other strategic alliances by various market player will accelerate the market growth. For instance: on 09th September 2020, Analog Devices Inc., launched a wireless battery management system for production electric vehicles, and will also debut on General Motors’ production vehicles powered by Ultrium batteries. These will enable automotive industries flexibly scale their electric vehicle fleets into volume production across a wide range of vehicle classes. Also, on 20th January 2020, Analog Devices Inc., agreed into a collaboration with Hyundai Motor Company to launch all-digital road noise cancellation system leveraging Analog Devices Inc., (ADI’s) Automotive Audio Bus (A2B?) technology. However, lack of awareness regarding motor management and control devices is the factor restraining the growth of the global Motor Management Market over the forecast period of 2020-2027.
The regional analysis of global Motor Management Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising replacement of existing control systems with a modern version of motor management devices that would further increase plant efficiency and reduce plant downtime for maintenance. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Analog Devices, Inc.
General Electric (GE)
Mitsubishi Electric Corporation
Schneider Electric SE
Texas Instruments Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Product & service Product & services of key players. The detailed segments and sub-segment of the market are explained below:
By Product & service:
Software & solution services
By Voltage Range:
Low Voltage (60 to 240 Vol AC)
Medium Voltage (250 to 395 Volt AC)
High Voltage (396 to 485 Volt AC)
Metal & Mining Industry
Oil & gas industry
Power generation industry
Water supply & water treatment industry
Food & beverage industry
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Motor Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers