According to a new report, published by KBV research, The Global Smart Motors Market size is expected to reach $3.3 billion by 2030, rising at a market growth of 6.7% CAGR during the forecast period.
The expansion of the smart motors market is driven by increasing demand across various industries for advanced motor control, energy optimization, and predictive maintenance capabilities. Smart motors, equipped with integrated sensors, communication protocols, and control algorithms, offer superior performance, energy efficiency, and reliability compared to traditional motor systems. The adoption of smart motor technology is motivated by the need to increase system reliability, lower energy consumption, and improve operational efficiency in industries like industrial, automobile, HVAC, and renewable energy.
The Industrial segment is leading the Global Smart Motors Market, by End-use in 2022; thereby, achieving a market value of $1.3 billion by 2030. Industries are increasingly adopting automation technologies to improve efficiency, productivity, and quality while reducing operational costs. Smart motors play a crucial role in automation by providing precise control over motion, speed, and torque, enabling seamless integration into automated manufacturing processes, assembly lines, and industrial machinery.
The 48V & above segment is experiencing a CAGR of 6.9% during (2023 - 2030). The growing electrification trend in the automobile, transport, and renewable energy industries drives the need for greater-voltage motor solutions. Electric vehicles (EVs), hybrid vehicles, and electrified powertrains require motors with higher voltage ratings to meet performance requirements, support fast charging capabilities, and optimize energy efficiency for extended range and improved vehicle dynamics. Hence, the increasing electrification across the industries drives the segment’s growth.
Full Report: https://www.kbvresearch.com/smart-motors-market/
The Asia Pacific region dominated the Global Smart Motors Market, by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.2 billion by 2030. The North America region is anticipating a CAGR of 6.1% during (2023 - 2030). Additionally, The Europe region would register a CAGR of 6.5% during (2023 - 2030).
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