The SAM motor controller market is expected to grow from US$ 152. 56 million in 2020 to US$ 203. 32 million by 2028; it is estimated to grow at a CAGR of 3. 9 % from 2021 to 2028. The mounting adoption of Industrial Internet of Things (IIoTs) in plants and factories is expected to escalate the market growth in coming years.
New York, May 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "South America Motor Controller Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Motor Type, Output Power Range, Voltage Type, and End-User" - https://www.reportlinker.com/p06075774/?utm_source=GNW
The rising adoption of the IIoT in the manufacturing sector is providing noteworthy opportunities to the SAM motor controller market players. The widespread use of robotics, sensors, centralized tracking, and quality inspection to form a smart manufacturing plant is triggering the adoption of IIoT. Technological advancements in the field of IoT for designing ecosystem plants to reduce the power consumptions and increase factory’s safety are expected to increase the demand for motor controller in the coming years. Further, the advent of artificial intelligence (AI) usage in IIoTs for advancing the automation of plants and machines would boost the demand for AI enabled motor controller devices in SAM in coming years. The demand for motor controllers is set to increase in residential applications as the IoT facilitates the integration of residential spaces with connected devices. Further, IIoT-powered industrial control systems (ICS) facilitate productivity and safety at work; these systems manage temperature and sensory equipment, manufacturing lines, and security devices. So, the growing adoption of IIoTs in different factories would drive the demand for motor controllers, which is anticipated to fuel the SAM motor controller market growth during the forecast period.
SAM is highly affected due to the COVID-19 outbreak.Brazil has reported the highest number of COVID-19 positive cases, followed by Ecuador, Chile, Peru, and Argentina.
Brazil is a dominant contributor to the overall manufacturing capabilities in the region.The country witnessed a major decline in demand for automation solutions, following the drastic drop in manufacturing activities and limited building construction activities amid the pandemic.
As a result of lowered performance of the manufacturing, construction, and oil & gas sectors, Brazil as well as other SAM countries registered low demand for motor controllers in 2020.However, with the relaxed measures in lockdown, the business operations in SAM region are slowly resuming, especially from last two quarters of 2020.
Hence, the ongoing business operations resumption are expected to positively impact the motor controller market in the coming years.
Based on motor type, the AC motor segment led the SAM motor controller market in 2020.This motor is driven by an alternating current.
The stator and the rotor are the two most important parts of the AC motors.The stator is the stationary part of the motor, and the rotor is the rotating part of the motor.
The motor may be single phase or three phases. AC motor drives are used to increase efficiency by setting pump and fan, etc. speed to exactly match the requirements. A few benefits of AC motor such as low cost, power saving, easy operation, and highly durable are expected to increase its demand, which would drive the growth of the SAM motor controller market in coming years.
The overall SAM motor controller market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the SAM motor controller market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the SAM motor controller market. ABB Ltd., AMETEK Inc., Eaton Corporation plc, General Electric Company, Microchip Technology Inc., Nidec Corporation, and Parker-Hannifin Corporation are among the players operating in the SAM motor controller market.
Read the full report: https://www.reportlinker.com/p06075774/?utm_source=GNW
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