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.
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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