Motor Management Market worth 4.03 Billion USD by 2023
Motor Management for electrical motors carry out multiple functions such as starting, stopping, and protecting motors and their operational control. Motor Management integrate hardware and software to control the motors. Motor Management are used in several industrial applications where multiple remotely controlled loads are connected to a control point. The motor management market was valued at USD 2.95 Billion in 2016 and is expected to reach USD 4.03 Billion by 2023, at a CAGR of 5.35% between 2017 and 2023. The motor Management ecosystem comprises hardware providers, system integrators, software providers, and distributors. Players involved in the manufacturing of Motor Management market is dominated by major companies such as General Electric (US), Texas Instruments (US), Siemens AG (Germany), Schneider Electric SE (France), ABB Ltd. (Switzerland), Analog Devices, Inc., (US), Eaton Corporation Plc (Ireland), Mitsubishi Electric Corporation (Japan), Rockwell Automation (US), and Hitachi, Ltd (Japan).
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