A variable frequency drive can control the frequency and voltage supplied to the AC motor. Variable frequency drives ensure optimum motion control and reduce power use. As per the latest market research report published by Technavio, the global variable frequency drives market size will grow by USD 5.11 billion during 2019–2023. Get the free sample report below for the detailed information.
A diverse range of industrial devices which are used for manufacturing or commercial purposes, are equipped with embedded technology and are part of the industrial IoT networks. The development of next-generation drives with the advanced technologies will help vendors in gaining an edge over their competitors. Technological advances enable vendors to develop advanced equipment that meets the end-user’s expectations.
In 2018, Hannover Messe Fair, Siemens unveiled a SIDRIVE IQ digital platform for evaluating drive systems. Integrating the IoT with variable frequency drive aids in controlling and monitoring devices remotely and can provide valuable feedback to the end-users, allowing them to take prompt actions. Most vendors do not provide IoT capabilities with their variable frequency drives.
Hence, the advent of IoT in variable frequency drives is expected to fuel the growth of the global variable frequency drives market at a CAGR of 4.74% during the forecast period. To know the complete and in-depth analysis and forecast of this market get the complete report by clicking the link below.
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