Increase in adoption of smart grid & smart home technologies and surge in need for high voltage devices fuel the growth in the global gate driver IC market
PORTLAND, Oregon, May 2, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Gate Driver IC Market by Transistor Type (MOSFET and IGBT), Semiconductor Material (SIC and GaN), Mode of Attachment (On-chip and Discrete), Isolation Technique (Magnetic isolation, Capacitive isolation, and Optical isolation), and Application (Residential, Industrial, and Commercial): Global Opportunity Analysis and Industry Forecast, 2017–2025." According to the report, the global gate driver IC market is expected to reach $2.04 billion by 2025, from $1.26 billion in 2017, registering a CAGR of 6.3% from 2018 to 2025.
Increase in adoption of smart grid & smart home technologies and surge in need for high voltage devices fuel the growth in the market. However, design complexities of ICs hinder the growth of the market. On the other hand, increase in power transistors for different renewable energy systems and rapid electrifications for automobiles create new pathways in the market.
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MOSFET to maintain its dominating position throughout the forecast period
Based on transistor type, MOSFET accounted for nearly two-thirds of the total share, and is expected to maintain its dominating position throughout the forecast period. This is due to its user friendly and low cost nature along with surge in investments in R&D activities. However, IGBT is expected to grow at the fastest CAGR of 8.1% during the forecast period, 2018–2025. This is due to the usage of IGBT in a large number of applications including renewable energy, motor drive, high voltage direct current (HVDC), and consumer electronics.
SiC segment to maintain its revenue lead by 2025
Based on semiconductor material, the SiC segment accounted for more than four-fifths of the total share in 2017 and is expected to maintain its revenue lead during the forecast period. This is due to its energy efficient nature and robust & compact design. However, the GaN segment is expected to grow at the fastest CAGR of 10.4% from 2018 to 2025, owing to its capability to survive high temperature and low manufacturing cost.
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Optical isolation segment to maintain its leadership in terms of revenue during the forecast period
Based on technique, the optical isolation segment accounted for nearly half of the total market share in 2017 and is expected to maintain its leadership status during the forecast period. This is due to its reduced power consumption, switching specifications enabling usage of small filers, and improved efficiency. However, the capacitive isolation segment is expected to register the fastest CAGR of 8.1% from 2018 to 2025.
Frontrunners of the industry
Key market players explored in the research include Infineon Technologies, Renesas Electronics, NXP Semiconductors, Toshiba, STMicroelectronics, ROHM Semiconductors, Texas Instrument, ON Semiconductor, Mitsubishi Electric Corporation, and Semtech. They have implemented key strategies including new product expansion, agreements, mergers & acquisitions, geographical expansion, and collaborations to enhance their market presence and gain strong position.
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