Integrated Drive System Market

NAVI MUMBAI, India - June 21, 2021 - PRLog -- 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.

Key Market Trends

Automotive Industry is Expected to be One of the Major Sectors of Application

- Innovation and continuous improvement remain one of the key features of the highly competitive automotive industry. The need to maintain competitive advantage has led to the continuous deployment of such systems.
- The increasing vehicle production program costs have led to manufacturers rely on simulation software to support continuous improvement and maximize productivity while simultaneously reducing costs. SIMUL8 offers a process simulation software that enables automotive manufacturers to create a digital representation of any manufacturing system.

Asia - Pacific is Expected to be the Fastest Growing Market During the Forecast Period

- The growth of the major end user indusstries where Integrated Frequency Drives are experincing growwth is one of the majro reasons that is leading to the growth of the market studies n the rgeion. For instance, the escalating trade war between China and the United States has enabled China to focus on oil and gas production. In 2019, the country has initiated a capital investment in oil exploration by 20%, to USD 77 billion, in order to boost production in two old oilfields. This is expected to drive the market for variable frequency drives in the oil and gas industry in China.

Competitive Landscape

The integrated drive systems market is dominated by a few key players with significant market share. The high growth potential of this market has been attracting new entrants. The key vendors of the market hence are acquiring competitive advantage through technological advancements and product developments. Some of the recent developments in the market are as follows:-

- November 2019 - Rockwell Automation. Inc and Accenture announced plans to collaborate to develop a digital offering to enable industrial clients to move beyond existing manufacturing solutions to transform existing connected enterprises.

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