Integrated Drive Systems Market: Recent Industry Developments And Growth Strategies Adopted By Players

Integrated Drive Systems Market: Recent Industry Developments And Growth Strategies Adopted By Players

Integrated drive system is a concept that organizes a suite of products that are connected and integrated with each other along with industrial automation and control system. Integrated drive system provides a reliable and seamlessly integrated solution, which is much more than summation of its individual components. Every integrated drive system is tailor-made according to the industrial specifications, resulting in reduction in engineering or manufacturing time and increase in efficiency. This helps organizations shrink their total cost of ownership and increase reliability performance improvement. There are three aspects of the integrated drive system namely, horizontal, vertical, and lifecycle integration. In horizontal integration, drive components such as gear unit, motor, and coupling are appropriately and efficiently integrated along the power flow.

It allows the system to operate better than those that are not-integrated, where there is a risk of incompatibility of components at some stage in the process. In vertical integration, the drive train and controller are integrated along the information flow. Entire drive train is integrated seamlessly into the automation environment with the help of this system. This enables the customer to make informed decisions, as more information about how the components are performing, and how they could perform better economically are available. In lifecycle integration, the time factor is added in, with the drive system being added by services and software that support the entire lifecycle; in particular the operation design elements.  It gives a shorter time to the market, increases operational productivity, and profit.

For More Details, Request A Sample Report

Growth in industry automation worldwide, along with increase in focus on development of production efficiency, and stringent government regulations for the efficient use of energy is driving the integrated drive systems market. The integrated drive system is advantageous for industrial automation. It ensures compatibility with other machines or systems, thereby streamlining manufacturing, leaner commissioning, and amplifying consistency of the entire system. Additionally, it also provides high level precise control and monitoring; therefore, it helps in the efficient use of energy resources and raw materials, which is helpful for the environment. Integration of drive technology into the totally integrated automation (TIA) portal radically simplifies diagnostics, commissioning, and engineering work.

High cost of the integrated drive system is expected to hamper the market. Potential buyers are refraining from implementation of integrated drive system in their organization, owing to the high cost involved. However, with the advancement in the technology pertaining to the integrated drive system, cost related to the integrated drive system is expected to reduce in the near future.

The integrated drive systems market is segmented based on integration type, component, end-use industry, and region. In terms of integration type, the market is classified as vertical, horizontal, and lifecycle. Based on component, the market is trifurcated into hardware, software, and services. In termsof end-use industry, the market is segmented into oil &gas, transportation &logistics, pharmaceuticals, chemical, food &beverage, and others.

Based on geography, the integrated drive systems market is segmented into North America, Europe, Middle East & Africa, Asia Pacific, and South America. North America and Europe are expected to lead the integrated drive systems market owing to the presence of established players and high technological advancements with respect to the integrated drive systems. However, due to the growing industrial automation acrossemerging economies such as China, India, and Japan, the market in Asia Pacific is expected to grow at a faster pace.

Key players operating in the integrated drive systems market are Siemens AG, Schneider Electric, Mitsubishi Electric Corporation, Rockwell Automation, Inc., GmbH, ABB, Emerson Electric Co., YASKAWA ELECTRIC CORPORATION, Integrated Drive System,and Bosch Rexroth USA.