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LONDON--(BUSINESS WIRE)--Technavio has been monitoring the motors and drives services market and it is poised to grow by $ 2.28 bn during 2020-2024, progressing at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavios in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts Frequently Asked Questions: The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Danfoss AS, Mitsubishi Electric Corp., Nidec Corp., Regal Beloit Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, WEG Equipamentos Eletricos SA, and Yokogawa Electric Corp. are some of the major market participants. The increasing demand for servo motors and brushless motors will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. View market snapshot before purchasing Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Motors and Drives Services Market 2020-2024: Segmentation Motors and Drives Services Market is segmented as below: To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43873 Motors and Drives Services Market 2020-2024: Scope Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The motors and drives services market report covers the following areas: This study identifies the focus on increasing energy efficiency in industries as one of the prime reasons driving the motors and drives services market growth during the next few years. Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavios in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform Motors and Drives Services Market 2020-2024: Key Highlights Table of Contents: Executive Summary Market Landscape Market Sizing Five Forces Analysis Market Segmentation by Product Market Segmentation by End-user Customer Landscape Geographic Landscape Market Drivers Market Challenges Market Trends Vendor Landscape Vendor Analysis Appendix About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Answer: Motors And Drives Services Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Increasing Demand For Servo Motors And Brushless Motors to boost the Market Growth | Technavio