Robotic Smart Motors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UK, August 30, 2024 /EINPresswire.com/ -- The global robotic smart motors market is set to expand from $3.72 billion in 2023 to $3.92 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.6%. This growth trajectory is attributed to the increasing demand for automation in manufacturing, advancements in precision and accuracy, supportive government initiatives, miniaturization of components, and enhanced energy efficiency standards. The market is expected to further grow to $4.96 billion by 2028 at a compound annual growth rate (CAGR) of 6.1%, driven by robust factors such as sector advancements and technological innovations.

IoT Adoption Fuels The Growth Of The Robotic Smart Motors Market
The rise in Internet of Things (IoT) applications is a major driver for the growth of the robotic smart motors market. IoT applications involve interconnected devices that gather, transmit, and analyze data, enhancing automation across various sectors including manufacturing and smart cities. Advancements in sensor technology and the proliferation of connected devices are contributing to this growth. For instance, a report by Ericsson highlights that global IoT connections reached 13.2 billion in 2022 and are projected to grow by 18% to 34.7 billion by 2028. This surge in IoT adoption is accelerating the demand for robotic smart motors, which offer precise control and real-time data monitoring to boost efficiency and performance.

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Key Players and Market Trends
Leading companies in the robotic smart motors market are focusing on innovations such as highly programmable servosystems. For example, Moog Animatics launched the Class 6 D-style SmartMotor in April 2022, which extends power range and includes advanced features like a multi-turn battery-less encoder and broader temperature range. Another significant development is Rockwell Automation’s acquisition of Clearpath Robotics in October 2023, which enhances its capabilities in autonomous technology and industrial automation.

Segments
• By Component: Hardware, Software
• By Robot Type: Commercial, Defense
• By Voltage: 12V, 18V, 24V, 36V, 48V, Above 48V

Geographical Insights: North America Leading the Market
North America led the robotic smart motors market in 2023, and is expected to continue its dominance. However, Asia-Pacific is projected to be the fastest-growing region in the forecast period, driven by increasing industrial automation and technological advancements.

Access the complete report for an in-depth analysis of the global robotic smart motors market: https://www.thebusinessresearchcompany.com/report/robotic-smart-motors-global-market-report

Robotic Smart Motors Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Robotic Smart Motors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on robotic smart motors market size, robotic smart motors market drivers and trends, robotic smart motors market major players, robotic smart motors competitors' revenues, robotic smart motors market positioning, and robotic smart motors market growth across geographies. The robotic smart motors market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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