Smart motor market growth due to increased automation, IoT technology
Control Engineering
JULY 17, 2023
annual pace from 2023 to 2033, depending on application. The Chinese market for smart motors is expected to reach $257.3 The smart motors market is expected to generate $3.2 billion in 2023, growing at a 5.2% annual rate from 2023 to 2033. Based on product type, the 24V sub-segment is expected to grow at a 5.1%
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