According to the report titled ‘Servo Motors and Drives Market Size By Category (Digital, Analog), By Drive (AC Drive, DC Drive), By Voltage (Ultra-Low, Low, Medium), By Application (Oil & Gas, Metal Cutting & Forming, Material Handling Equipment, Packaging and Labeling Machinery, Robotics, Medical Robotics, Rubber & Plastics Machinery, Warehousing, Automation, Extreme Environment Applications, Semiconductor Machinery, AGV, Electronics), Industry Analysis Report, Regional Analysis, Application Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market Share & Forecast, 2021 - 2027,’ available with MarketStudyReport, global servo motors and drives market is expected to witness substantial growth during the period 2021-2027.
 

Rising product utilization in numerous applications, and surging emphasis on technological advancements are factors augmenting the growth of global servo motors and drives market. 

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Moreover, focus among prominent players on expanding their product portfolios and adopting the latest strategies to make their processes more sustainable is further accelerating industry development. 

Besides this, companies are adopting different measures to improve customer reach in various regions which is likely to create lucrative opportunities in the forthcoming years. 

Based on application spectrum, the automation segment of worldwide servo motors and drives industry is estimated to expand remarkably during the analysis period. As per the report, automation segment in Japan market held 6% revenue share in 2020 and is slated to expand steadily over the coming years.

From a regional standpoint, Middle East & Africa market is poised to grow significantly during the assessment timeframe. Moreover, Latin America holds a major market share and is speculated to witness robust expansion during the forecast period, owing to the soaring deployment across labeling, packaging, and robotics sectors.

The competitive landscape of global servo motors and drives market is defined by companies such as Aerotech Inc., Siemens AG, ESR Pollmeier GmbH, Mitsubishi Electric Corporation, Danfoss Inc., Schneider Electric SE, Kinco Automation Pvt. Ltd., Rockwell Automation, Estun Automation Co. Ltd., Fuji Electric Co. Ltd., Delta Electronics Inc., Yaskawa Electric Corporation, Hitachi Ltd., ABB Ltd., Hiconics Eco-energy Technology Co. Ltd., and Bosch Rexroth AG among others.