Market Size of Integrated Drive System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.88 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Integrated Drive System Market Analysis
The Integrated Drive System Market is expected to register a CAGR of 5.88%. The growth of the market can be attributed to the increased focus on production efficiency to maintain competitive advantage and the growing adoption of integrated drive systems in industrial automation.
- Integrated Drive Systems enable the reduction of maintenance costs. The integration of Web-based drive engineering and energy efficiency software tools is facilitating particular drive applications, ensuring the best possible cost savings. According to certain estimates, the deployment of Integrated Drive Systems can reduce costs by as high as 15%.
- Additionally, the horizontal integration on the drive train level enables one-stop sourcing of motor, gear unit, coupling, frequency converter, and controls. For customers, this translates into single-vendor responsibility that facilitates purchasing and helps reduce warranty costs that, most of the time, are not considered.
- Industrial Automation is being impacted in several ways due to the outbreak of the COVID-19 virus. Major industries, like Automotive, have been affected across the world as they are highly dependent on the Chinese Supply Chains for various components. While in the sorter, the virus is expected to affect the market studied, in the medium-term, it is expected to benefit from the outbreak as the companies realize the need to automate faster to come out of the economic downturn faster and remain better equipped for any such future pandemic.
