Robotic Smart Motors Market Size, Share, Industry Analysis, Trends, Growth, 2032

Robotic Smart Motors Industry Prospective:

The global robotic smart motors market size was worth around USD 5,126.20 million in 2023 and is predicted to grow to around USD 8,074.70 million by 2032 with a compound annual growth rate (CAGR) of roughly 5.30% between 2024 and 2032.

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Robotic Smart Motors Market: Overview

Robotic smart motors are highly advanced and programmable motors integrated with sophisticated smart technologies such as sensors and communication systems. The development of robotic smart motors is a result of increasing automation in the global commercial and industrial world. These intelligent physical units work as an integration of several components including drive, motor, controllers, encoders, communication ports, and cables. As compared to conventional motors, robotic smart versions are highly advanced and offer additional features. Furthermore, they are highly reliable and energy-efficient.

Robotic smart motors leverage sensor technology along with other software programs for real-time data communication and diagnosis thus making them ideal for automated environments that require high efficiency, reliability, and changing load. One of the major benefits of using robotic smart motors is higher energy efficiency since the novel technology optimizes energy consumption processes and reduces energy wastage. Furthermore, they also offer higher control over variable parameters such as torque and speed. Robotic smart motors are designed to be safer as compared to traditional motors since they incorporate features such as thermal shutdown, over-current protection, and detection of fault systems. During the forecast period, the industry for robotic smart motors is expected to generate high growth as a result of the rapid adoption of automated technologies.

Key Insights:

• As per the analysis shared by our research analyst, the global robotic smart motors market is estimated to grow annually at a CAGR of around 5.30% over the forecast period (2024-2032)
• In terms of revenue, the global robotic smart motors market size was valued at around USD 5,126.20 million in 2023 and is projected to reach USD 8,074.70 million, by 2032.
• The market is projected to grow at a significant rate due to the surging expansion of Industry 5.0
• Based on the type, the commercial segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the voltage, the 24v segment is anticipated to command the largest market share
• Based on region, North America is projected to dominate the global market during the forecast period

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Robotic Smart Motors Market: Growth Drivers

Surging expansion of Industry 5.0 may drive the market growth rate

The global robotic smart motors market is expected to grow due to the rising investments in the expansion of Industry 5.0 across the globe. The Fifth Industrial Revolution (Industry 5.0) is an emerging class of industrialization. It deals with creating a work environment in which humans and advanced technologies can work together in a safe manner. Industry 5.0 aims to leverage cutting-edge solutions such as artificial intelligence (AI) and other forms of automation tools to improve workplace efficiency and productivity. However, one of the key aspects of Industry 5.0 is the integration of advanced systems and human capabilities.

The leading impact of Industry 5.0 will be witnessed in the form of developing robots that can work with humans collaboratively as the Fifth Industrial Revolution deals with smart machines and robots. In March 2024, Accel, a leading venture capital firm, announced the name of 8 early-stage startups in India to be integrated into its Atoms program. The company provides seed funding for startups that are working in the industry 5.0 and AI segments. The total allotted funds is around $500,000 with an added benefit of USD 5 million. In December 2023, the European Union approved the proposal made by Italian officials promoting the modification of the National Recovery and Resilience Plan (NRRP). As per the latest changes around 6.3 billion euros have been allotted to the Transition 5.0 Plan.

Growing demand for energy-efficient solutions may impact the market growth rate

Robotic smart motors are highly energy efficient since they are manufactured using sophisticated algorithms that can detect the environment and send critical data suggesting changes that optimize power consumption and performance. Furthermore, the sensors integrated into robotic smart motors can be helpful in ensuring predictive maintenance thus allowing users to undertake corrective measures before the machine malfunctions. Communication devices installed in robotic smart motors are steadily witnessing a rise in technology allowing them to become more reliable and efficient in transmitting real-time information. These changes are likely to drive growth in the global robotic smart motors market.

Robotic Smart Motors Market: Restraints

High cost of the motors may limit the market adoption rate

The global robotic smart motors are expected to be limited in terms of growth due to the high cost of advanced technology. As compared to traditional motors, robotic smart versions are expensive due to the use of advanced engineering solutions such as superior performance sensors and communication systems. Depending on the features offered and the brand value, the cost of robotic smart motors may vary between USD 300 to USD 2100. Additionally, the lack of repair service infrastructure across the globe may further impact the industrial growth rate.

Robotic Smart Motors Market: Opportunities

Increasing investments in further research & development (R&D) may create higher growth opportunities

The global robotic smart motors market is projected to generate growth opportunities due to the increasing investments in research & development for further advancements in the technology. In August 2023, the Singapore MIT-Alliance for Research and Technology (SMART) announced the launch of a new interdisciplinary research group. This segment will be responsible for managing institutional and social challenges that are related to the rise of automation and AI. In April 2024, AbbVie commenced the construction of ‘LUnA” (LUdwighafens neue Arbeitswelt). It is a new central research building made with an investment of €150 million. Upon completion, the facility will become the second-largest R&D complex in the world.

Escalating focus on the development of autonomous vehicles could be pivotal for the market growth

Autonomous vehicles have become widely popular in the modern automotive industry. These vehicles can sense their environment and do not depend on human interventions for driving. Autonomous vehicles are also known as self-driving cars and the rise in investments for the development of these vehicles is shaping the global automotive sector. In May 2024, Wayve, a UK-based provider of self-driving car technology secured over USD 1 billion for the development of AI-powered next-generation autonomous vehicles. In January 2022, Mercedes-Benz became the first automobile company in South Africa to manufacture cars in the region with self-driving features. Robotic smart motors are used across components installed in autonomous vehicles including parts such as steering, motion control, propulsion, and others. The growing investments in the development of autonomous vehicles may help the global robotic smart motors market grow.

Robotic Smart Motors Market: Challenges

Compatibility issues with robotic smart motors and other components of the device may challenge the market expansion

The global industry for robotic smart motors and its players may face challenges due to the complexity that arises in ensuring compatibility between advanced intelligent motors and other components of the machine or the device. Robotic smart motors make use of progressive technologies and integrate these systems with other rudimentary components of the system. Moreover, the risk of intellectual property (IP) theft and regulatory compliance challenges may further lead to limited expansion.

Robotic Smart Motors Market: Segmentation

The global robotic smart motors market is segmented based on type, component, voltage, and region.

Based on the type, the global market segments are defense and commercial. In 2023, the highest demand was observed in the commercial segment. During the forecast period, the segment is expected to register a CAGR of over 5.5%. The growing demand for automation across industrial sectors along with higher performance delivery by robotic solutions will drive the segmental growth rate. In the coming years, businesses will seek solutions that are energy efficient without compromising on the overall performance delivery. The defense segment is expected to gain traction due to the growing focus on improving national security technology and systems.

Based on components, the global robotic smart motors industry is divided into software and hardware.

Based on the voltage, the global market segments are above 48V, 48V, 36V, 24V, 18V, and 12V. During the forecast period and following the trends of 2023, the 24V segment is expected to generate high revenue. It is projected to grow at a CAGR of around 5.75%. The growing adoption of 24V robotic smart motors across industries and end-user applications will be the driving force. 24V meets the ideal power requirements for several types of automated systems and offers a balance between power and efficiency.

Robotic Smart Motors Market: Report Scope

Robotic Smart Motors Market: Regional Analysis

North America to generate significant revenue during the forecast period

The global robotic smart motors market will be driven by North America and is expected to grow at a CAGR of over 5% during the projection period. The US, in particular, will lead the regional market expansion. The prominent reason for higher regional growth is the presence of influential players in the US including names such as Kollmorgen, Moog Animatics, and others. The growing use of robotic solutions across industries including manufacturing, automotive, and pharma is likely to generate more demand for robotic smart motors. In addition to this, the US has been at the forefront of Industry 5.0 with the introduction of highly advanced robotic smart solutions including motors. The regional companies are investing in developing state-of-the-art automation solutions. In April 2024, Rockwell Automation, Inc., announced the launch of FLEXLINE™ 3500. The company is a leading solutions provider encouraging digital transformation and industrial automation. The solution offered by the company is a novel low-voltage motor control center (MCC). Asia-Pacific may emerge as the second-highest revenue-generating region led by the increasing demand for intelligent systems across the manufacturing sector. China, Japan, and India may help the regional market thrive.

Robotic Smart Motors Market: Competitive Analysis

The global robotic smart motors market is led by players like:

• Mitsubishi Electric Corporation
• Omron Adept Technologies
• Comau Robotics
• Yaskawa Electric Corporation
• KUKA Robotics
• Universal Robots
• Nachi-Fujikoshi Corporation
• Boston Dynamics
• Kawasaki Heavy Industries Robotics Division
• Epson Robots
• Stäubli Robotics
• Fanuc
• Denso Robotics
• ABB Robotics
• Robotnik Automation S.L.L.

The global robotic smart motors market is segmented as follows:

By Type

• Defense
• Commercial

By Component

• Software
• Hardware

By Voltage

• Above 48V
• 36V
• 24V
• 18V
• 12V

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa