According to the research report titled ‘Servo Drive Market Size By Drive (AC, DC), Category, Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020-2026’, available with Market Study Report, global servo drive market is anticipated to record significant growth over 2020-2026.
 

Surging vehicle production, rising use of product in packaging & labeling as well as robotics verticals, and increasing automation in factories are leading factors spurring global servo drive market growth.
 

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For the record, a servo drive takes a command signal and compares it to feedback which helps in providing the motor the required voltage to correct any divergence from commanded status effectively. It is also known as servo amplifier as it mainly performs the function of powering the motor, taking control signals from controllers and amplifying these signals to give the required amount of current and voltage to the motor.
 

Moreover, capability of servo drives to determine performance of system and control position, velocity or torque will also contribute to industry proliferation over the upcoming years. Benefits for automated machining systems like motion control, superior positioning, and speed will also stimulate global servo drive market growth between 2020-2026.
 

Speaking of category, worldwide servo drive industry is divided into analog, and digital. Among these, digital segment in Canada grew at 8% CAGR between 2015-2018 and is projected to display similar trends over the forecast duration. Digital servo drives are used in process of manufacturing semiconductors, CNC machining, automation, and robotics as they offer better configuration capabilities and performance.
 

Moving on to application scope, the marketplace is bifurcated into oil & gas, metal forming, metal cutting, packaging & labeling, material handling equipment, robotics, semiconductor machinery, rubber & plastics machinery, and others. Japan metal cutting sector held 25% revenue share in global servo drive industry in 2018, cites the report.
 

Regionally speaking, Middle East & Africa held majority of worldwide servo drive market share in the recent past and is projected to expand rapidly through 2026. In 2016, oil & gas sector in Saudi Arabia captured 10% of the industry share and is predicted to expand modestly in the upcoming years due to rise in new oil & gas projects in MEA.
 

Key players shaping worldwide servo drive market trends are Siemens AG, Rockwell Automation Inc., Bosch Rexroth AG, ABB Ltd., Hitachi Ltd., Mitsubishi Electric Corporation, Danfoss, Schneider Electric SE, Yaskawa Electric Corporation, Delta Electronics Inc., Fuji Electric Co. Ltd., Estun Automation Co. Ltd., Toshiba Corporation, Kinco Automation (Shanghai) Co. Ltd., and Hiconics Eco-Energy Technology Co. Ltd.