The Smart Motor Market Will Exceed 8.9 Billion Yuan In 2020

- Nov 05, 2018-

The smart motor market will exceed 8.9 billion yuan in 2020

According to news released by MarketsandMarkets, in 2014, the global smart motor market revenue was about 989 million US dollars (about 6.4 billion yuan), and it is expected that by 2020, this data will increase to 1.38 billion US dollars (about 8.94 billion yuan) Yuan), the compound annual growth rate reached 6.19%.

From the application market, smart motors are widely used in industrial, commercial, automotive, consumer electronics, aerospace and other fields. Among them, industry is the largest application market, followed by consumer electronics and commerce. It is expected that by 2020, the demand for smart motors for industrial applications will be the fastest, followed by the commercial market. In terms of regional markets, in 2014, the Americas was the largest regional market for smart motors, followed by Asia Pacific and Europe. By 2020, the Americas region is expected to continue to maintain this status, while North America will become the dominant market in the Americas.

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