The integrated drive system market is projected to grow at a considerable CAGR of 5.2% during the forecast period (2020-2026). The integrated drive systems offer energy efficiency benefits of the comprehensive and custom engineered product and service offerings, including gearboxes, couplings, motors and drives through a single source. The increasing adoption of industry 4.0 initiative on a large scale across the globe has increased the demand for automation in industries. With the rise in the investment, the focal point of manufacturers has been increased on dropping the operational and maintenance costs, rolling need for integrated drive systems. Additionally, these systems provide high-level precise control and monitoring of the available assents in the industry.
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The integration of drive technology into the totally integrated automation (TIA) portal radically simplifies engineering work diagnostics and engineering work. The rising demand for automation in the different industrial sectors such as automotive, food and beverage, pharmaceutical, oil & gas and others for overall cost reduction is a major factor to drive the growth of the global integrated drive system market. The ongoing technological advancement in equipment manufacturing is anticipated to offer considerable opportunities to the growth of the global market. However, due to the lack of a skilled workforce and limited awareness regarding integrated drive systems are limiting the growth of the market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Integrated Drive System Market Segmentation
By Product Type
- Hardware
- Software
By End-User
- Automotive
- Oil & Gas
- Pharmaceutical
- Chemical
- Food & Beverages
- Others
Global Integrated Drive System Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global integrated drive system market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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