The global smart motors market size reached US$ 2.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032. The increasing demand for automation and efficiency in industrial processes and the rising adoption of hybrid and electric vehicles are primarily driving the growth of the market. https://www.imarcgroup.com/smart-motors-market