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Motors and Drives Services Market size is set to grow by USD 2.35 billion from 2024-2028, Increasing demand for servo motors and brushless motors boost the market, Technavio

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NEW YORK, June 26, 2024 /PRNewswire/ — The global motors and drives services market size is estimated to grow by USD 2.35 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 2.24%  during the forecast period. Increasing demand for servo motors and brushless motors is driving market growth, with a trend towards technological advances in electric drives. However, intense competition among vendors  poses a challenge. Key market players include ABB Ltd., Danfoss AS, Delta Electronics Inc., Fuji Electric Co. Ltd., Integrated Power Services LLC, Lenze SE, Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Regal Rexnord Corp., Rockwell Automation Inc., SEW EURODRIVE GmbH and Co KG, Siemens AG, Toledo Engineering Co. Inc., Toshiba Corp., WEG Equipamentos Eletricos S.A., Wolong Electric Group Co. Ltd., Yaskawa Electric Corp., and Yokogawa Electric Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Motors And Drives Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 2.24%

Market growth 2024-2028

USD 2355.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.17

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 44%

Key countries

China, US, Germany, Japan, and UK

Key companies profiled

ABB Ltd., Danfoss AS, Delta Electronics Inc., Fuji Electric Co. Ltd., Integrated Power Services LLC, Lenze SE, Mitsubishi Electric Corp., Nidec Corp., OMRON Corp., Regal Rexnord Corp., Rockwell Automation Inc., SEW EURODRIVE GmbH and Co KG, Siemens AG, Toledo Engineering Co. Inc., Toshiba Corp., WEG Equipamentos Eletricos S.A., Wolong Electric Group Co. Ltd., Yaskawa Electric Corp., and Yokogawa Electric Corp.

Market Driver

The global motors and drives services market is witnessing growth due to the increasing demand for energy-efficient solutions. Traditional AC drives utilize additional equipment like active front-end rectifiers and multi-purpose transformers to mitigate harmonics, leading to increased wiring, space, and cost requirements. To address this challenge, vendors are adopting matrix design in AC drives, eliminating the need for a DC bus and bypassing harmonic production. Regenerative capabilities in electric drives, such as Yaskawa Electric Corp.’s R1000 Regenerative Unit and ABB Ltd.’s ACS880, enable the diversion of regenerated power back to the power source, optimizing energy utilization and reducing penalty charges. The focus on energy efficiency and regenerative capabilities is expected to fuel market growth during the forecast period. 

The Motors and Drives Services market is experiencing significant growth, with a focus on upgrades and modernization. Performances and efficiencies are key trends, as businesses seek to improve productivity and reduce downtime. Producers of motors and drives are investing in research and development to create more efficient and durable products. Consumers are looking for condition monitoring and predictive maintenance solutions to prevent equipment failure. The use of automation and digitalization is increasing, with the implementation of IoT technologies and data analytics. Additionally, the demand for sustainable and energy-efficient solutions is driving innovation in the market. Overall, the Motors and Drives Services market is evolving to meet the changing needs of businesses and industries. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global motors and drives services market is fragmented due to numerous vendors offering maintenance and retrofitting services. Price is a significant factor for buyers, who prefer cost-effective options that meet regulatory standards. China’s market consists of affordable small vendors, attracting investments due to low labor, land, and raw material costs. End-users seek cost-effective machines and solutions. Price-sensitive customers challenge OEMs, prompting them to partner with economical service providers. To tackle costs, global vendors are considering mergers and acquisitions for market expansion in APAC. However, this expansion may negatively impact local small- and medium-scale vendors, potentially hindering market growth.The Motors and Drives Services market faces several challenges. Consumption of motors and drives is essential in various industries such as manufacturing, automotive, and energy. However, the increasing use of renewable energy sources and energy efficiency regulations pose challenges to the market. Additionally, the high cost of advanced technologies like permanent magnet motors and variable frequency drives can be a barrier to entry for some businesses. Furthermore, the global supply chain disruptions due to the pandemic have affected the market’s growth. Lastly, the need for customized solutions and the short product lifecycle add to the complexity of the market. Companies must address these challenges to remain competitive and meet the evolving demands of their customers.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This motors and drives services market report extensively covers market segmentation by  

Product 1.1 Motors1.2 DrivesEnd-user 2.1 Process industry2.2 Discrete industryGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Motors-  The motors and drives services market is driven by the integral role motors play in discrete and process industries, particularly in energy-intensive sectors like pulp and paper. With frequent servicing needs in harsh conditions, maintenance and repair dominate the market. Predictive strategies are preferred for cost-effectiveness. ABB Ltd. Offers intelligent motor solutions to enhance performance, uptime, and efficiency, contributing to market growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Motors and Drives Services Market encompasses a wide range of offerings, including feedback control systems for encoders and potentiometers, skilled workforce expertise in rotary systems segment, gearboxes, pulleys, and DC motors for precise control in industrial automation. Reliable performance is ensured through the adoption of automated systems, preventive maintenance, troubleshooting, and retrofitting for motor-driven systems. Shunt motors and separately excited motors are integral solutions for various industries. Performance upgrades and efficiency enhancements are crucial aspects of this market, driving the need for digitalization and reliability in motor systems. Labor shortages in emerging countries are being addressed through the adoption of robotics and digital technologies, further expanding the market landscape.

Market Research Overview

The Retifting Performance Management Automation Diganalytics sector encompasses the provision of services related to motors and drives. This market is characterized by the implementation of advanced technologies such as electronics, sensors, and software to optimize motor and drive performance. Efficientcy and reliability are key factors driving the growth of this market. The use of predictive maintenance techniques enables early detection and resolution of potential issues, reducing downtime and maintenance costs. Consumption of motors and drives is widespread across industries such as manufacturing, oil and gas, and power generation. The market is expected to grow significantly due to the increasing demand for energy efficiency and the integration of renewable energy sources into power grids. The implementation of Industry 4.0 and the Internet of Things (IoT) is also expected to drive market growth by enabling real-time monitoring and predictive maintenance of motors and drives. The use of condition-based monitoring systems and the adoption of cloud-based solutions are further trends in this market. The market for motors and drives services is a dynamic and evolving landscape, with ongoing advancements in technology and industry trends shaping its future.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductMotorsDrivesEnd-userProcess IndustryDiscrete IndustryGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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, Technavio’s 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 Technavio’s 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Ravelin Defense Launches Unified Brand Identity, Marking the Completion of ArmorWorks and Fox Valley Metal Tech Integration

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CHANDLER, Ariz., June 16, 2026 /PRNewswire/ — ArmorWorks Enterprises and its wholly-owned subsidiary Fox Valley Metal Tech (“FVMT”) announced today the completion of their brand integration under a unified identity: Ravelin Defense. The launch marks the culmination of the strategic integration effort following the 2024 acquisition of Fox Valley Metal Tech and its combination with ArmorWorks Enterprises, bringing together more than six decades of combined defense manufacturing expertise under one name, one brand, and one go-to-market platform. Ravelin Defense is a portfolio company of Littlejohn Capital.

About the Name
The name Ravelin Defense draws from a defense architectural reference. A ravelin is a forward-positioned, triangular fortification — a structure engineered to provide layered protection and absorb a threat before it reaches the core. The name reflects both the nature of what the company builds and how it thinks about its role in the defense industrial base.

A Platform Built on Two Proven Legacies
ArmorWorks Enterprises spent more than 30 years building its reputation as a trusted provider of survivability solutions — delivering armor systems, blast attenuating seating, crew protection, nuclear protection, and mission-critical products to the U.S. military and global defense partners. Fox Valley Metal Tech built a complementary organization as a precision metal fabricator with advanced manufacturing capabilities serving defense and industrial customers with large, complex, tight-tolerance precision enclosures. Acquired by ArmorWorks in 2024 and operating as a wholly owned subsidiary since, FVMT’s integration added manufacturing depth and precision fabrication capacity and a significant maritime customer base that materially broadened what the combined platforms support.

Since the acquisition, the two businesses have operated as one company under a unified leadership team and common strategy. All customer relationships, contracts, certifications, and points of contact remain unchanged.

Strategic Rationale
The Ravelin Defense brand reflects the completion of a deliberate platform-building strategy. The integrated company offers a unified capability spanning survivability structures, armor, precision enclosures, blast attenuating seating, nuclear security systems, signature management, and situational awareness solutions — delivered through two established locations and one cohesive leadership team. That combination positions Ravelin Defense to pursue larger, multi-domain defense programs at a scale the businesses could not have accessed independently.

Kevin Dahlin, Chief Executive Officer of Ravelin Defense says, “ArmorWorks and Fox Valley Metal Tech each built substantial credibility over the past three decades — proven capability, hard-won customer trust, and a standard of quality that defines who we are. We have been one company since 2024, and Ravelin Defense is the name that reflects that reality in the market. Operating under a unified identity gives our customers a clearer picture of the full scope of what we can deliver across Land, Sea, and Air — and opens doors to program opportunities that match the scale of what we have built.

The name has changed, but the mission remains constant: to protect and enable warfighters and global partners by delivering mission-critical and survivability solutions through innovative products and advanced manufacturing.”

About Ravelin Defense
Ravelin Defense is an integrated survivability and precision manufacturing platform serving the U.S. defense market and global partners across Land, Sea, Air, and Infrastructure domains. The company delivers mission-critical and survivability solutions — including armor systems, blast attenuating seating, precision enclosures, nuclear security, signature management, survivability structures, and situational awareness capabilities — through innovative products and advanced manufacturing.

Ravelin Defense is headquartered in Chandler, Arizona, with manufacturing operations in Green Bay, WI.

ArmorWorks Enterprises and Fox Valley Metal Tech are operating units of Ravelin Defense. All existing contracts, certifications, registrations, and customer and supplier relationships remain in full effect under the new brand.

For more information, visit www.ravelindefense.com.

About Littlejohn Capital, LLC
Littlejohn Capital is the family office of Angus C. Littlejohn Jr., founder of Littlejohn & Co., where he currently serves as Chairman Emeritus. Founded in 2013, Littlejohn Capital seeks to make control investments in small to mid-sized private companies that are undergoing strategic, operational or generational transition. For more information, visit www.littlejohncapital.com

Media Contact
Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
chris@tofallipr.com

View original content:https://www.prnewswire.com/news-releases/ravelin-defense-launches-unified-brand-identity-marking-the-completion-of-armorworks-and-fox-valley-metal-tech-integration-302800596.html

SOURCE Ravelin Defense

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F-Secure and IdentifAI Take Aim at AI-Generated Scams with Deepfake Protection Launch

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Real-time deepfake detection capabilities added to F-Secure’s Scam Protection Suite, helping service providers combat increasingly convincing AI-driven scams

HELSINKI and MILAN, June 16, 2026 /PRNewswire/ — Global consumer cyber security leader F-Secure and deepfake-detection experts IdentifAI have joined forces to help digital service providers combat the rapidly rising threat of AI-generated scams. Available now through the F-Secure Embedded portfolio, Deepfake Protection adds real-time detection of AI-generated images, video, and voice to F-Secure’s Scam Protection Suite, helping consumers determine what’s real and what’s not, while closing one of the fastest-growing gaps in global scam protection. 

AI-generated scams have quickly reached crisis levels: The FBI reports that Americans lost nearly $900 million to AI-generated scams in 2025. And according to F-Secure’s latest research, more than 56% of all consumers are targeted by scammers every month, with financial scam losses doubling in the last year alone.

Generative AI is pouring fuel on the fire: cloned voices, synthetic video, and hyper-realistic fake images are turning yesterday’s clumsy phishing attempts into convincing, personalized deception. The red flags aren’t obvious anymore, and consumers are increasingly left guessing whether what they’re seeing or hearing is real. This makes deepfake detection a critical new capability for service providers looking to help customers identify manipulated content before it can be used to scam them.

“A video, a voice message, a photo — things people once trusted instinctively can now be fabricated in minutes,” said Dimi Vellikok, SVP of Product Engagement at F-Secure. “The reality is that scam protection can’t stop at suspicious links and messages anymore. Consumers are increasingly being targeted with manipulated content, and service providers need tools that address those threats too. That’s exactly why we’ve partnered with IdentifAI: to give our partners real-time deepfake detection for the consumers they serve, as part of the protection they already trust.”

Protection built for the AI era

Deepfake Protection draws on IdentifAI’s multi-modal detection technology, which analyzes images, video, and voice in real time to flag AI-generated and manipulated content. IdentifAI takes a deliberately independent approach to the problem: the company exclusively detects AI-generated content and does not build generative models itself, avoiding the conflict of interest that affects vendors who do both. That focus lets its detection keep pace as new generative models reach the market.

“Our mission is to safeguard the fundamental human right to distinguish between the artificial and the human, ensuring we all engage with the world authentically,” said Marco Ramilli, IdentifAI Founder and CEO. “In partnering with F-Secure, we have turned this vision into reality—co-creating powerful, proven solutions to counter the threat of deepfakes.”

The partnership brings together F-Secure’s network of more than 200 service-provider partners and IdentifAI’s specialist deepfake detection technology. Together, the companies aim to make trustworthy, real-time content verification a standard part of everyday consumer protection, rather than a specialist tool solely reserved for enterprises. 

The future of scam protection, available now

Deepfake Protection is available to digital service providers as part of the F-Secure Embedded portfolio, the suite of consumer-security capabilities F-Secure delivers to its service-provider partners. Through the Embedded portfolio, providers can integrate deepfake detection into the security experiences they already offer without having to build new infrastructure of their own.

About F-Secure

F-Secure is a human-first, AI-powered consumer cyber security experience company with 38 years of expertise in tackling digital threats. We help digital service providers turn trust into a high-value growth engine — protecting their customers while enabling them to live their best digital lives in a world of relentless, AI-driven scams. With billions of digital interactions secured each year, tens of millions of consumers protected globally, and over $10bn in partner value created, we deliver proven impact at scale.

About IdentifAI

IdentifAI is an Italian startup that has developed an innovative AI platform capable of detecting whether images or videos were created by humans or generative AI. Its proactive solutions promote digital integrity, protect against misinformation, and empower users to distinguish between human and AI-generated content. In July 2025, identifAI raised €5 million in a funding round led by United Ventures, reflecting a continued commitment to developing anti-deepfake technologies and promoting a secure information ecosystem. For more information: www.identifai.net | sales@identifai.net

PRESS CONTACTS:
Meghan Sawyer
Senior Public Relations Manager, US
Meghan.Sawyer@f-secure.com

Joel Latto
Public Relations Manager, EMEA
Joel.Latto@f-secure.com

IdentifAI
pr.it@identifai.net | pr.uk@identifai.net

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/f-secure/r/f-secure-and-identifai-take-aim-at-ai-generated-scams-with-deepfake-protection-launch,c4364126

 

View original content:https://www.prnewswire.com/news-releases/f-secure-and-identifai-take-aim-at-ai-generated-scams-with-deepfake-protection-launch-302801586.html

SOURCE F-Secure

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Aviso Advances Technology Modernization with Broadridge’s Wealth Platform

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TORONTO, June 16, 2026 /CNW/ — Leading Canadian wealth services provider Aviso is collaborating with global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR) to support the next phase of technology modernization for its Aviso Correspondent Partners business by deploying Broadridge’s Wealth Platform.

As part of its long-term strategic vision, and expanded multi-year relationship with Broadridge, Aviso is evolving the systems that support partners to enable modern, flexible technology that drives innovation, advisor productivity, and long-term growth while enhancing the overall client experience. This includes deepening its collaboration with Broadridge as part of a broader partner ecosystem.

Aviso will leverage Broadridge’s Wealth Platform, which provides a next-generation open API architecture and innovative Advisor Workstation components. The solution combines Broadridge’s technology and books and records engine with Aviso’s own capabilities and select third-party partner applications to offer a seamless, scalable experience for partners, advisors and clients.

“Our strategy is focused on delivering smarter, more agile digital experiences for our clients and advisors, while creating a strong foundation for future innovation,” said Bill Packham, President and Chief Executive Officer of Aviso. “Broadridge’s platform approach complements our vision by enabling us to integrate the best available capabilities across our own technology, Broadridge’s solutions, and other valued partners. This collaboration builds on our long-lasting relationship with Broadridge and positions us to deliver a future-ready platform that enhances advisor productivity and client experiences.”

“This expanded engagement with Aviso reflects our shared commitment to transforming and modernizing the wealth management ecosystem for advisors and their clients,” said Karin Kirkwood, President, Broadridge Canada. “We’re proud to deepen our collaboration with Aviso and play a key role in enabling their transformation. As a trusted provider of industry expertise and transformative technology, Broadridge supports large-scale modernization efforts across the financial services sector, helping forward-looking firms like Aviso lead with agility, confidence, and impact.”

The enhanced Advisor Workstation will increase advisor productivity, enable accelerated onboarding of new tools, reduce internal integration work and costs, and provide real-time access to data and insights while digitizing operations. Aviso will be better positioned to capitalize on growth opportunities while more easily responding to industry evolution and regulatory developments.

With an agile and scalable platform, Broadridge empowers wealth management firms to streamline operations, accelerate digital transformation, and unlock growth. As the Canadian wealth industry prioritizes modernization of their front- and middle-office operations, Broadridge’s integrated, future-ready platform serves as a strategic differentiator, enabling leading firms to shape the future of wealth management in Canada.  

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information, visit www.broadridge.com.

About Aviso

Aviso is a leading wealth and investment services provider for the Canadian financial industry, with more than $220 billion in assets under administration and management as of May 31, 2026. Guided by our values — we care, we dare, we share, we deliver — we’re building a technology-enabled, client-centric wealth management ecosystem for partners, advisors and investors. Aviso supports over 4,600 advisors and nearly 900,000 investors.

Aviso works with over 450 partner organizations, including nearly all credit unions across Canada, as well as portfolio managers, investment dealers, insurance and trust companies, and introducing brokers. Our services include an investment and mutual fund dealer, insurance and estate planning, managed assets, online brokerage and automated investing, asset management, and custodial and carrying broker solutions. For more information, visit aviso.ca.

Media Contact:

Olivia Whalen
pro-BRWAM@prosek.com

 

SOURCE Broadridge Financial Solutions, Inc.

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