The Asia Pacific Smart Motors Market would witness market growth of 7.1% CAGR during the forecast period (2023-2030).
Medical equipment and devices often incorporate smart motors for precision control and reliability in applications such as surgical robotics, diagnostic imaging systems, infusion pumps, and patient monitoring devices. It enables precise movement and positioning, contributing to the accuracy, safety, and effectiveness of medical procedures and treatments. In addition, smart motors are used in agricultural machinery and equipment for irrigation, crop harvesting, and precision farming. In automated irrigation systems, smart motors control water pumps and valves to deliver precise amounts of water to crops based on soil moisture levels, weather forecasts, and crop requirements, optimizing water usage and crop yields.
With growing concerns over energy consumption, carbon emissions, and sustainability, organizations are under increasing pressure to improve energy efficiency. It offers advanced control algorithms, variable speed drives, and energy management features, enabling organizations to optimize power usage, reduce energy waste, and comply with regulatory standards and environmental mandates. It helps organizations minimize operational costs and improve efficiency by reducing energy consumption, optimizing equipment performance, and streamlining maintenance processes. Predictive maintenance techniques and real-time monitoring capabilities enable organizations to maximize uptime and minimize downtime for key machinery and equipment by proactively identifying and addressing possible faults.
The growing electronics industry in India creates opportunities for the market, driven by the demand for automation, precision motion control, and energy-efficient solutions in electronics manufacturing, consumer electronics, and IoT applications. As per the National Investment Promotion & facilitation Agency, India’s electronics industry is estimated to be worth $155 billion, of which 65 percent is produced domestically. India’s domestic production expanded from $49 billion in (fiscal year) FY17 to $101 billion in FY23, a 13% annual growth rate. By FY26, the nation’s electronics exports will total $120 billion. Exports of electronic items were valued at $17.74 billion in April–November 2023, up 23.56% from $14.36 billion in the same period in 2022. Therefore, the increasing use of renewable energy and expansion of the regional electronics industry are propelling the market’s growth.
The China market dominated the Asia Pacific Smart Motors Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $326 Million by 2030. The Japan market is exhibiting a CAGR of 6.5% during (2023 - 2030). Additionally, The India market would experience a CAGR of 7.8% during (2023 - 2030).
Free Valuable Insights: The Global Smart Motors Market is Predict to reach $ 3.3 billion by 2030, at a CAGR of 6.7%
Based on End-use, the market is segmented into Industrial, Automotive, Consumer Electronics, Aerospace & Defense, and Others. Based on Product, the market is segmented into 24V, 48V & above, 18V, and 36V. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
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