Integrated Drive Systems Market worth 38.27 Billion USD by 2022

The report "Integrated Drive Systems Market by Offering (Hardware, Software, and Services), Communication Protocol (Fieldbus, Industrial Ethernet, and Wireless: WHART, ISA100.11a, ZigBee, WLAN, Cellular), Industry, and Geography - Global Forecast to 2022", The integrated drive systems market is expected to grow from USD 23.89 Billion in 2015 to USD 38.27 Billion by 2022, at a CAGR of 6.80% between 2016 and 2022. The advancement and rapid growth in automation and adoption of energy-efficient international standards are some of the significant growth drivers for the drive systems market.

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Hardware component expected to lead the drive systems market

The hardware component is expected to hold the largest share of the integrated drive systems market between 2016 and 2022. The hardware components integrated in a drive system include converters, motors, geared motors, gear units, couplings, and others. Drive systems are the key components in the automation industry; these systems are highly accurate and efficient and have low maintenance costs.

Integrated drive systems market for water and wastewater management industry expected to grow at the highest rate during the forecast period

The increasing concerns over water scarcity and declining groundwater levels led to the advent of various innovative ideas to treat wastewater. Wastewater is a combination of contaminated water from residences, business buildings, institutions, and factories. With technological advancements, the process of water treatment has become fully automated; this helps save time and assures better quality output. The major applications of integrated drive systems in the waste and wastewater management industry are in pumps, fans, and compressors.

APAC held the largest share of the integrated drive systems market in 2015

APAC held the largest share of the drive systems market in 2015. The reason for this growth is increasing industrial activity along with the high demand for faster and accurate drive systems to achieve a higher production output. The increasing demand for energy-efficient production processes coupled with the need for software systems is fostering the growth of the integrated drive systems market. The high growth observed in machine tool production and other sectors related to the production of machines and automobiles, which includes electronics assembly, semiconductor machinery, and customized robots for different applications, is one of the reasons for the growth of the integrated drive systems market in the APAC region.

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Some of the major players in the integrated drive systems market are Siemens AG (Germany), Bosch Rexroth AG (Germany), Schneider Electric (France), Rockwell Automation, Inc. (U.S.), ABB Ltd. (U.S.), Emerson Electric Co. (U.S.), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), TQ Group GmbH (Germany), and Integrated Drive Systems (U.S.).

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Mobile Robots Market to Witness Higher Growth in Domestic, Military, Logistics

The mobile robots market is expected to grow from USD 18.7 billion in 2018 to USD 54.1 billion by 2023, at a CAGR of 23.71% during the forecast period. 

Robotics has witnessed a quantum leap with the introduction of technologies such as augmented reality, deep learning, and artificial intelligence (AI). With the growing geriatric population and the rising number of nuclear families worldwide, demand for advanced technologies and virtual assistants, such as companion robots, is also increasing as these technologies simplify the process of performing a task. Another driver for the mobile robots market include increasing demand for warehouse automation.

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Mobile robots market for personal and domestic robots to grow at the highest CAGR during 2018–2023

Personal and domestic robots are adopted for domestic applications (e.g., vacuum cleaning, floor cleaning, and lawn-mowing) and entertainment, education, and personal applications (e.g., entertainment and leisure). The adoption of these robots has been high in North American and European countries for household purposes. However, with the growing awareness and number of nuclear families worldwide, the market for personal and domestic robots is expected to grow at the highest CAGR during the forecast period.

Mobile robots market for entertainment, education, and personal application is expected to grow rapidly during the forecast period

Social robots are gaining traction regarding entertainment, education, and personal applications with booming digital technology. In addition, devices or robots with larger displays (dedicated for performing tasks such as displaying images, playing videos, and displaying error messages) are being adopted on a large scale for entertainment, education and personal applications. Apart from this, an increasing number of working officials across the world is expected to put forth a need for robots for providing companionship to the elderly and toddlers. This fact is expected to propel the growth of the market for entertainment, education, and personal applications during the forecast period.

North America to hold a major share of the mobile robots market in 2018

North America is expected to hold the largest share of the mobile robots market in 2018. This dominance can be attributed to the growth in demand for mobile robots from nascent sectors such as telepresence, inspection and maintenance, and home security, along with major sectors such as medical, defense, marine, logistics, and education and research. iRobot, GeckoSystems, Adept Technology (a subsidiary of Omron Corporation), Google, and Amazon are the major companies in the mobile robots market based in the US. Apart from this, increasing aging population in North America is driving the market for telepresence and personal assistant robots.

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Major players in the mobile robots market include Northrop Grumman (US), Honda Motor (Japan), Softbank (Japan), iRobot (US), DJI (China), Lockheed Martin (US), Kongsberg Maritime (Norway), KUKA (Germany),  Bluefin Robotics (US), Samsung Electronics (South Korea), Parrot (France), 3DR (US), GeckoSystems (US), LG (South Korea), Amazon Robotics (US), Mayfield Robotics (US), Promobot (Russia), Bluefrog Robotics (France), LEGO (Denmark), and ECA Group (France).

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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.

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Telecom Power System Market Set to Witness Significant Growth in the Coming Years

Power systems play a vital role in the efficient running of telecommunication networks by securing the services in case of power interruptions and fluctuations. They are made up of a combination of converters, distributors, controllers, and backup systems. They help in saving essential operating and maintenance costs for telecom operators. With the growing mobile subscriber base and increasing demand for 3G and LTE networks, the telecom industry is set to expand and actively invest in more infrastructures.

The global telecom power system market is expected to be valued at USD 4.53 Billion by 2022, growing at a CAGR of 10.26% between 2017 and 2022.

Among grid types, the off-grid power systems is expected to witness the highest growth over the forecast period, owing to the expansion of networks to remote areas by mobile network operators and tower companies in order to get universal coverage. Moreover, there is a good scope for telecom power systems in bad-grid areas, mainly due to lack of access to grid-based electricity.

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Based on power source, the market for diesel-solar power source is estimated to grow at the highest CAGR, since they help in reducing the operational and maintenance costs as well as logistics by lowering the diesel runtime and fuel consumption.

How is the market progressing, globally?

Among regions, the market in Asia-Pacific is expected to be the largest market in 2017, owing to the increasing penetration of telecom towers, especially in rural areas in order to enhance the connectivity as well as to expand the mobile network to the growing mobile subscriber base. The APAC region has been witnessing expansion of 3G and LTE networks since the past few years. There is a great opportunity for mobile network operators (MNO)/tower companies and energy service companies (ESCOs) to work toward deploying green power alternatives in order to power telecom sites, reduce expenditure, tackle infrastructural challenges, and reach the rollout targets, thereby witnessing good growth ahead.

What is driving and restraining the market growth?

The global market for telecom power systems is experiencing growth mainly due to the following factors:

• Increased penetration of telecom towers in rural and off-grid areas, especially APAC and Africa
• Growing awareness regarding the reduction of carbon footprint of the telecom industry

Moreover, growth in the number of mobile subscribers, especially in Asia-Pacific and Africa is expected to further drive the growth of this market.

On the other hand, concern regarding the effect of high utilization of diesel for powering telecom infrastructure is the major factor that is likely to hamper the growth of this market.

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Key players and growth strategies adopted

The key players operating in the worldwide market for telecom power systems comprise Delta Electronics (Taiwan), Eaton (Ireland), GE Industrial Solutions (U.S.), Huawei Technologies Co. (China), and Schneider Electric (France). These companies have majorly adopted the organic strategy of new product launches in order to increase their market shares as well as revenue. Other strategies include contracts & agreements, awards and acquisitions, and partnerships and collaborations so as to expand their global presence and portfolio.

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.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com