Dec 7, 2023

News provided by Share this article Share toX Global Robotic Smart Motors Market is projected to reach a value of $8.04 billion by 2033 from $4.79 billion in 2023, growing at a CAGR of 5.3% The global robotic smart motors market has experienced remarkable growth in recent years due to substantial growth and technological advancements. One of the primary driving forces behind the market's expansion is the burgeoning demand for automation across diverse sectors. From automotive manufacturing and healthcare to logistics and even in people's daily lives, smart motors are playing a pivotal role. With the advancements in artificial intelligence (AI) and machine learning (ML), robotic systems equipped with smart motors can continuously improve their performance. These motors learn about their physical surroundings, including obstacles, objects, and their locations from their environment, make real-time decisions, and even collaborate with humans seamlessly, making themselves versatile and invaluable assets across industries. Furthermore, these motors are energy-efficient, contributing to sustainability efforts by reducing power consumption. This aspect aligns with the growing focus on adopting eco-friendly practices and energy conservation, further driving market growth. Moreover, the global robotic smart motors market represents the future of automation. With their capacity for precision, adaptability, and energy efficiency, these motors are poised to become the cornerstone of countless industries, shaping a world where automation is not just a luxury but a necessity for efficiency, quality, and sustainability. Additionally, advancements in artificial intelligence and machine learning have further bolstered the capabilities of smart motors, enabling robots to adapt and learn from their surroundings. As industries continue to embrace automation, the global robotic smart motors market is expected to continue its upward trajectory, revolutionizing the way one works and lives. Market Segmentation Commercial Segment to Lead the Global Robotic Smart Motors Market The global robotic smart motors market was led by commercial application, which is expected to grow at a CAGR of 5.48% during the forecast period 2023-2033. This growth is driven by a convergence of factors, including the escalating demand for automation across various commercial sectors, the versatility and efficiency offered by robotic smart motorss, and the continuous advancement of artificial intelligence and machine learning technologies. 24V Segment to Dominate the Global Robotic Smart Motors Market The global robotic smart motors market is expected to be dominated by the 24V voltage in 2023. The 24V is expected to grow at a CAGR of 5.34% during the forecast period 2023-2033. One of the primary reasons behind this growth is the widespread adoption of 24V motors across various industries and applications. T Hardware Segment to Lead Global Robotic Smart Motors Market The global robotic smart motors market (by component) includes hardware, which is expected to dominate the market. It is expected to generate $3.40 billion in 2023 and is projected to reach $5.63 billion by 2033, registering a CAGR of 5.18% during the forecast period 2023-2033. North America to Dominate Global Robotic Smart Motors Market North America is anticipated to grow at a CAGR of 5.16%. The presence of a larger number of established robotic smart motors providers is driving the market in the region. The presence of major industry players such as YASKAWA ELECTRIC CORPORATION, Kollmorgen, Parker Hannifin Corporation, Moog Animatics, and AMKmotion GmbH within the region, along with growth strategies such as partnerships, are paving the way for market opportunities. Market Share Analysis & Company Profiles ABB Lenze