New ARC Advisory Group research on high power AC drives in India reveals that emerging megatrends such as technological advancements, demographic shifts, and transition in global economic power are driving business transformation in India’s AC drives market. These trends are increasingly evolving to bring about a change in consumer base, workforce, and the industrial ecosystem. Industries in India are gearing up to these dynamics by focusing on new markets, higher levels of digitization, and innovations in product, process, and technology.
“Companies in India are investing in information technology, advanced automation, and analytics to improve asset performance, become more energy efficient, manage their costs, hasten new product introductions, and gain time-to-market advantages by achieving collaboration between development and production processes. This will in turn create continuing investment demands for automation and all categories of AC drives in the next five years and beyond,” says Rajkumar Paira, Analyst at ARC Advisory Group and key author of ARC’s High Power AC Drives for India Market Research Study 2016-2021.
The emergence of next-generation technologies enabled with Industrial Internet of Things (IIoT) capabilities is leading companies to look for new business models that can potentially benefit both the industrial customer and the machine manufacturer. These technologies allow suppliers to establish a dynamic relationship with customers and offer new services that can reduce unscheduled downtime and improve operating performance, such as monitoring for excessive energy consumption, identifying usage patterns that potentially impact machine health and service life, detecting operating conditions outside of design range, or recommending new settings or parameters to fine-tune individual machine performance. AC drives are a key component in IIoT services as they are integral to the control of rotating machines.
About the High Power AC Drives Research
This research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year regional forecasts for the high power AC drives market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modeling techniques. The research includes competitive analysis, plus five-year market forecasts by hardware, software, services, industries, and drive size.
This new research is available as a comprehensive Market Research Study (PDF). It provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. Also includes in-depth quantitative and qualitative research into the current market, market forecasts, plus competitive analysis.
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