Wilmington, Delaware, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Wireless Motor Control Systems Market by Product Type (Motor Drivers, Controllers, Actuators and Others), Communication Technology (Bluetooth, Wi-Fi, Zigbee, RFID, and Others), and End User (Industrial and Non Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the wireless motor control systems market was valued at $461.5 million in 2023, and is estimated to reach $957.3 million by 2032, growing at a CAGR of 8.5% from 2024 to 2032.
Prime determinants of growth
The scalability and flexibility of wireless systems cater to evolving operational needs and facilitates easy integration with existing infrastructure. Further, the growing trend towards remote monitoring and control, enabled by wireless connectivity, enhances operational efficiency and reduces downtime.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $461.5 million |
| Market Size in 2032 | $957.3 million |
| CAGR | 8.5% |
| No. of Pages in Report | 250 |
| Segments covered | Product Type, Commuication Technology, End User, and Region |
| Drivers | Increasing demand for automation in manufacturing and process Growing focus on energy conservation The ability to remotely monitor and control motors in real-time. |
| Opportunities | Integration with smart grid infrastructure |
| Restraints | Initial Investment Costs |
The controllers segment held the highest market share in 2023
Based on product type, the controllers the highest market share in 2023. These devices play a pivotal role in regulating and managing the operation of motors wirelessly. Controllers enable precise control, monitoring, and automation of motor functions, driving their widespread adoption across various industries such as manufacturing, automotive, and utilities. Their versatility and functionality contribute significantly to their dominant position in the market.
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The wi-fi segment held the highest market share in 2023
Based on communication technology, the wi-fi segment held the highest market share in 2023, due to its widespread adoption, compatibility with existing infrastructure, and reliable performance in industrial environments. It offers robust connectivity, high data transfer rates, and seamless integration with various control systems. Wi-Fi's popularity is driven by its flexibility in supporting diverse applications, from small-scale operations to large industrial setups, making it a preferred choice for businesses seeking efficient and scalable wireless solutions.
The industrial segment held the highest market share in 2023
Based on end-user industry, theindustrial segment held the highest market share in 2023, due to extensive adoption of wireless motor control systems for automation and operational efficiency. Industries such as manufacturing, automotive, and energy utilize these systems to optimize processes, enhance production throughput, and reduce downtime. The industrial sector's reliance on advanced control technologies drives significant demand, positioning it as the leading consumer of wireless motor control solutions in the market..
North America to maintain its dominance by 2032.
Based on region, North America held the highest market share in terms of revenue in 2023, owing to its advanced industrial infrastructure, early adoption of automation technologies, and stringent regulatory standards. The region boasts a strong presence of key market players, technological innovation hubs, and robust investments in industrial automation across sectors such as manufacturing, oil & gas, and utilities, collectively driving the dominance of North America in the market.
Key Industry Development –
- In May 2022, NEC Corporation and Toyota Technical Development announced the development of a stable wireless control system for cars and other moving objects in factories and warehouses. This system pairs NEC wireless-connection stabilization software with communication modules developed by Toyota Technical Development Corporation (TTDC) , which are then mounted onto cars, automated guided vehicles (AGVs) , and the like to ensure stable communication that is free from disruptions and interference.
- In April 2024, Rockwell Automation launched a low-voltage motor control centre (MCC) for IEC markets which integrates smart motor control devices to deliver real-time operational and diagnostic data. Rockwell says that the Flexline 3500 MCC will help users to unlock production data and increase uptime and productivity.
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Leading Market Players: -
- Siemens AG
- ABB Ltd
- Schneider Electric SE
- Rockwell Automation, Inc.
- Mitsubishi Electric Corporation
- Eaton Corporation plc
- General Electric Company
- Emerson Electric Co.
- Honeywell International Inc.
- Danfoss Group
The report provides a detailed analysis of these key players of the global wireless motor control systems market. These players have adopted different strategies such as product launch, acquisition, agreement and partnership and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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