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Servo Motors & Drives Market to Reach 17.2 Million Units by 2018 - New Report by MarketsandMarkets
Date:6/20/2013

(PRWEB) June 20, 2013

According to a new market research report "Servo Motors and Drives Market: By Type (AC Servo Motors/Drives, DC Servo Motors/Drives, Brushless Servo Motors), Voltage Range (Low Voltage, Medium Voltage), Components (Sensors, Controller Modules, Encoders, Amplifiers) and Application - (2013 – 2018)" published by MarketsandMarkets, the total market is expected to reach total shipments of 17.2 million units by 2018, growing at an estimated CAGR of 6% from 2013 to 2018.

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Implementation of automation tools in application industries have resulted in reducing operations time, and saving the cost incurred in manufacturing and inventory process. Due to the advancement in technology, servo system has increased its scope with the integration of hardware and software. Technological advancements in servo systems have spurred the end users’ interest and witnessed a positive growth rate during the last few years. Due to the increased features and functionalities in application market, servo motors and drives are now being used in areas where it was confined. Growth in servo motors and drives market is driven by various applications such as packaging machines, semiconductors, food processing, machine tools however the markets such as healthcare, robotics, and others are showing strong opportunities in this market.The major companies include Yaskawa Electric (Japan), Siemens AG (Germany), Mitsubishi Electri
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