The servo motors and drives market size was valued at US$ 14.41 billion in 2024 and is expected to reach US$ 21.44 billion by 2031; it is estimated to register a CAGR of 5.8% during 2024–2031. Demand for next-generation servo drives is likely to remain a key market trend.
High demand for industrial automation solutions, surge in product development by manufacturers, and rise in demand by the automotive industry are driving the servo motors and drives market. Furthermore, increasing investment in industrial automation solutions such as robotics and CNC machines increases the global demand for servo motors and drives. Additionally, technological advancement, development of AI-power servo motors, and integration of advanced technologies such as industrial Internet of Things (IIoT), AI, and ML technologies in servo motors and drives that reduce operating costs are expected to create opportunities for market growth during the forecast period. Moreover, the rise in demand for customized servo motors and drives, the increase in manufacturers' focus on developing small and compact products, the surge in demand for next-generation servo drives, and the growth in research and developmental activities are propelling the servo motors and drives market.
A servo motor is a highly specialized motor used to regulate rotational or linear motion precisely. The rotational or translational motor uses a feedback system to assure precise positioning, usually via a control signal that directs the motor's movement to a specific location. This mechanism enables for exact control of multiple components, making servo motors essential in applications requiring accurate positioning and smooth motion. Servo motors are extremely efficient owing to their high power during movement and maintain energy efficiency at varying speeds and loads. They offer precise control of angular or linear position, speed, and acceleration, making them indispensable in applications where precise positioning is crucial. Similarly, servo drives are electronic devices or small computers constructed from circuit boards, microchips, cables, and connectors. They are linked to electric motors and send electricity to control the motor's rotation. They can cause the motor to accelerate, slow down, stop, or reverse. Some servo drives control small motors, such as those in a robot arm's elbow joint, while others control large motors, such as those in heavy machinery or an electric vehicle's wheel. Powerful motors require powerful servo drives. Servo motors are utilized across industries due to their efficiency and precision in control. Industries such as automotive, aerospace, manufacturing, consumer electronics, medical, and defense to improve their operational efficiency.
Servo motors and drives are used in industrial automation solutions to provide precise and dynamic control of the motion. They are most commonly used for handling and controlling tasks such as assembly line operations, packaging and labeling, sorting and inspection, process control, and others that need high levels of precision, torque, and speed control. These components are mainly used in applications that require precise motion control, such as CNC machines, conveyor systems, and robotic arms. The growing adoption and implementation of automation solutions among industries surge the adoption of servo motors and drives to control motion by enhanced product quality. These also support industries to ensure workers' safety in adverse environments by lowering process costs. Moreover, the adoption of automation solutions among industries such as robots, CNC machines, and conveyor systems is rising. The robotics industry has grown significantly owing to the industrial shift to automation and the adoption of robots in factories. Industries are increasingly deploying robots to dangerous tasks perform dangerous and repetitive tasks that support factory workers to operate safely in hazardous environments.
Artificial intelligence technology is revolutionizing servo motors and drives by enhancing their capabilities. AI can optimize the performance of servo motors in real time, allowing them to adapt to changing conditions and auto-correct. This can significantly reduce wear and tear, extending the motor's lifespan while maintaining operational efficiency. Moreover, market players are deploying machine learning algorithms to examine servo motor data and identify maintenance requirements before a breakdown. This supports industries to increase operational efficiencies by reducing operational downtime. AI-powered servo motors and drives enable real-time monitoring and predictive maintenance. This supports industries to operate at peak efficiency with minimal downtime. AI-based servo systems can automatically adjust parameters such as speed, torque, and position based on real-time feedback, resulting in optimized performance in dynamic environments. The demand for technologically advanced components encourages market players to develop their existing product portfolio. For instance, in June 2024, the Industrial Devices Division (INDD) of Panasonic Life Solutions India (PLSIND), a leading diversified technology company, introduced the industry's first commercialized AI-equipped servo system, MINAS A7, along with the MINAS CZ1 Global and MINAS A6SC series Servo Motors for Indian OEMs (Original Equipment Manufacturers). The AI-powered servo systems have been engineered to optimize manufacturing output with superior motion performance, high precision, efficiency control, and leveraging cutting-edge technology. The predictive capability of AI and ML technology is positively impacting servo motors to operate in the future. Thus, the shift toward more intelligent, high-performance servo technologies is expected to create lucrative opportunities in the global servo motors and drives market during the forecast period.
Key segments that contributed to the derivation of the servo motors and drives market analysis are component, product type, brake technology, and industry vertical.
The regional trends and factors influencing the Servo Motors and Drives Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Servo Motors and Drives Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 14.41 Billion |
| Market Size by 2031 | US$ 21.44 Billion |
| Global CAGR (2024 - 2031) | 5.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Servo Motors and Drives Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Servo Motors and Drives Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The servo motors and drives market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the servo motors and drives market are listed below:
(Source: ABB, Press Release, November 2024)
(Source: Fuji Electric Co., Ltd, Press Release, May 2024)
The "Servo Motors and Drives Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
The global servo motors and drives market is estimated to register a CAGR of 5.8% during the forecast period 2024–2031.
The global servo motors and drives market is expected to reach US$ 21.44 billion by 2031.
The key players holding majority shares in the global servo motors and drives market are ABB Ltd, Delta Electronics Inc, Fanuc Corp, Fuji Electric Co Ltd, Mitsubishi Electric Corp, Nidec Corp, Rockwell Automation Inc, Schneider Electric SE, Siemens AG, and Yaskawa Electric Corp.
Demand for next-generation servo drives to play a significant role in the global servo motors and drives market in the coming years.
Asia Pacific dominated the servo motors and drives market in 2024.
High demand for industrial automation solutions, surge in product development by manufacturers, and rise in demand from automotive industry are the major factors that propel the global servo motors and drives market.