Pune, India, Jan. 10, 2022 (GLOBE NEWSWIRE) -- According to the report, the global Wireless Integrated Drive Systems market size to grow at notable growth rate as the rising demand for automated and efficiency systems from the industries for rapid growth and to reduce the production cost is expected to fuel the market over the forecast period.
The growing inclination towards cost-effective and energy-efficient production processes is likely to spur growth opportunities for the wireless integrated drive system market size in the forthcoming years, mentioned in a report by Fortune Business Insights, titled “Wireless Integrated Drive System Market Size, Share & Industry Analysis, By Type (Horizontal Integration, Vertical Integration, Lifecycle Integration), By Application (Automotive and Transportation, Food and Beverages, Chemical, Oil and Gas, Pulp and Paper, Pharmaceutical, Machine Building, Water and Wastewater Management) Others and Regional Forecast, 2019-2026” the rapid advancement in manufacturing facilities is predicted to bolster healthy growth of the market during the forecast period.
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COVID-19 Impact:
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What does the Report Offer?
The report for Wireless Integrated Drive Systems aids in understanding the dynamics and structure of the global market by evaluating market segments and projecting the market size. The clear representation of competitive analysis of key competitors in the market by product, price, financial situation, and product portfolio.
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Rising Industrial Innovation to Foster Market Growth
The increasing demand for automation and energy-efficient systems in industries has led to a reduction in efforts and production costs. This factor is expected to spur sales opportunities for the global market in the forthcoming years. The increasing emphasis on deploying hi-tech software systems is likely to accelerate the growth of the market. The rising demand for high-quality products and integrated automation is expected to favor the healthy growth of the market. The surge in automobile production is predicted to contribute positively to the market.
The rising awareness regarding the advantages of wireless integrated drive systems such as high efficiency and accuracy in the production process is predicted to bode well for the market. Furthermore, the increasing digitalization and automation in the industrial sector is expected to support the growth of the market. For instance, in June 2019, The Siemens AG expanded the SIDRIVE IQ with Veros Machine learning analytics. SIDRIVE IQ will play a major role in monitoring, analyzing, and optimizing drive systems digitally. Moreover, stringent laws implemented by the government for energy use is predicted to fuel demand for the market during the forecast period. Besides, the increasing innovation and advancement in wireless integrated drive systems by major players is expected to aid the expansion of the market. However, high maintenance and installation costs is likely to restrict the growth of the market during the forecast period. For instance, the parts of automation systems are expensive and require timely maintenance.
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Increasing R&D Investment by Companies to Encourage Market in North America
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia-pacific is predicted to dominate the market during the forecast period due to the increasing demand for automation and digitalization to attain higher production output. The growing investment by industries in advanced manufacturing technology is expected to enable healthy growth of the market during the forecast period. Europe is expected to witness high growth in the foreseeable future owing to the presence of eminent players in this region. Moreover, the rising R&D investment by companies in the development of advanced industrial automation is expected to boost growth in the region. The stringent government regulations for the effective use of energy is also predicted to augur well for the market in Europe.
List of the Companies Operating in the Market:
- Siemens AG
- Schindler Electric
- Rockwell Automation, Inc.
- ABB Ltd.
- Emerson Electric Co.
- Bosch Rexroth AG
- Yaskawa Electric Co.
- Mitsubishi Electric Co
- TQ Group GmbH
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Global Wireless Integrated Drive Systems Market Segmentation:
By Type:
- Horizontal Integration
- Vertical Integration
- Lifecycle Integration
By Application:
- Automotive and Transportation
- Food and Beverages
- Chemical
- Oil and Gas
- Pulp and Paper
- Pharmaceutical,
- Machine Building,
- Water and Wastewater Management
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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Table Of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2. Porter’s Five Forces Analysis
4.3. SWOT Analysis
4.4. Technological Developments
4.5. Value Chain Analysis
4.6. Impact of COVID-19 on Wireless Integrated Drive Systems Market
5. Global Wireless Integrated Drive Systems Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
Continued…
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