Global AC Drives Market Will Flourish with the High Demand for Energy-efficient Products Through 2019: Technavio
September 25, 2015 | By Business Wire News
LONDON
Technavio has published a new report on the global AC drives market,which is expected to grow at a CAGR of more than 7% from 2015-2019.
About the Report
According to the latest market research report by Technavio, the global AC drives market is fueled by a strong demand for energy-efficient products and technologies in industries. The various rules set by regulatory bodies, such as the use of higher energy-efficient motors, are pushing end-users to opt for technologies that optimize operations and are energy efficient.
“Over the last decade, energy-efficient AC motors have gained significant momentum as electricity has emerged as a key concern for various industries, especially in developing countries,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes the industrial Internet of Things (IoT), which increases efficiency and enables data transfer across the network without human-to-computer or human-to-human interaction.
“Vendors are making endless effort to use IoT technologies in their solution offerings to differentiate their products from those of their competitors and provide real-time information to their customers, which will further enhance the overall market growth,” adds Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global AC drives market from 2015-2019. To calculate the market size, the report considers revenue generated from the types of AC drives and end-users industries.
Key Information Covered in the Report:
- Key Vendors:
- ABB
- Siemens
- Mitsubishi Electric
- Rockwell Automation
- Market Growth Drivers:
- Increasing urbanization and industrialization
- For a full detailed list, view our report.
- Market Challenges:
- Strong competition among vendors
- For a full detailed list, view our report.
- Market Trends:
- Focus on industrial IoT
- For a full detailed list, view our report.
Technaviocurrently has more than 3000 market research reports on a huge range of topics, including 100+ reports on the AC drives market:
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150925005012/en/
Technavio Research
Jesse Maida
US: +1 630-333-9501
UK: +44 208 123 1770
Media & Marketing Executive
www.technavio.com
media@technavio.com
