Motor Driver IC Market Reflects 6.2% CAGR by 2030, Rising Role of Autonomous Robots in Covid-19 Pandemic Aids Growth: Fact.MR
Motor driver IC manufacturers are taking advantage of social distancing guidelines and the resultant need for industrial automation to support production and sales of motor driver ICs in the coronavirus crisis.
ROCKVILLE, MD / ACCESSWIRE / September 1, 2020 / The global motor driver IC market is projected to grow 1.8x between 2020 and 2030, with an promising 6.2% CAGR. The coronavirus outbreak is likely to have a moderate impact on the global motor driver IC industry. Restricted activities in the automotive and industrial manufacturing industries are limiting the demand for motor driver ICs. However, niche applications in health care sector will provide opportunities for growth through the covid-19 crisis.
“Manufacturers using industrial robots make extensive use of motor driver ICs. Robots perform industrial operations with higher efficiency, accuracy, and also low energy consumption. This factor is essential for the growing adoption of motor driver ICs through the assessment period,” says the FACT.MR study.
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Motor Driver IC Market- Key Takeaways
- Gallium nitride motor driver ICs are witnessing growth in demand owing to superior capabilities in minimizing risks of short circuits.
- Power transistor applications are gaining sustained growth with use in renewable energy systems.
- Asia Pacific is a major market for motor driver ICs, supported by industrial automation demand for power management in high voltage devices.
Motor Driver IC Market- Driving Factors
- Motor driver ICs are gaining key growth opportunities in the in the automotive sector in application for HVAC, and oil pump systems.
- Growing popularity of automated manufacturing facilities is likely to contribute to demand for motor driver ICs.
Motor Driver IC Market- Key Restraints
- Complexity in design of motor driver ICs are a key challenge for market players, hampering growth.
- Highly competitive market landscape reduces profit opportunities for market players.
COVID-19 Impact on Motor Driver IC Market
The covid-19 outbreak has adversely impacted the growth prospects of the motor driver IC market in the short term. Temporary closure or restricted activity in varied industrial sectors are holding back the demand for motor driver ICs. In addition, lockdown measures have also impacted the production of these components, hurting growth. On the other hand, rising demand for automated robots in healthcare and disinfection applications during the pandemic are likely to create key growth opportunities for manufacturers to leverage in this period.
Explore the global Motor Driver IC market with 265 figures, 128 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/3173/motor-driver-ic-market
Competitive Landscape
Maxim Integrated, Toshiba Corp., Rohm Co. Ltd., Mitsubishi Electric Corp. Semtech Corp., Texas Instruments, On Semiconductor, Allegro Microsystems, and ST Microelectronics N.V., are some of the leading motor driver IC market players.
Leading participants in the motor driver IC market have been investing extensively in product development, mass production, and launch strategies involving performance and application improvements.
For example, Power Integrations has unveiled the expansion to its range of BridgeSwitch motor driver ICs for voltages up to 400W. Toshiba Electronic Devices & Storage Corp. has launched the new
TC78H670FTG 18V/2.0A micro-stepping motor driver IC. Also, ST Microelectronics N.V. has revealed a new 44V motor driver IC with non-latching OCP characteristics.
About the Report
This study offers readers a comprehensive market forecast of the motor driver IC market. Global, regional and country-level analysis of the latest industry trends impacting the motor driver IC market is covered in this FACT.MR study. The report offers insights on the motor driver IC market on the basis of motor type (brushed DC, brushless DC, and stepper motor), semiconductor (gallium nitrate, and silicon carbide), transistor gate (MOSFET and IGBT), isolation (magnetic, capacitive, and optical), mode of attachment (on-chip, and discrete), maximum supply voltage (below 12 volts, 12 to 24 volt, 24 to 48 volts, and above 48 volts) and application (automotive, aerospace & defense, industrial automation, consumer electronics, healthcare, and others), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and MEA).
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Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the ICT sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR’s latest semiconductors market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Fact.MR
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