Motor Driver IC Market revenue to cross USD 1.5 Bn by 2027: Global Market Insights Inc.

- The industrial segment will showcase 4% CAGR through 2027 due to the increasing acceptance of robotics and automation across manufacturing and processing industries.

SELBYVILLE, Del., Nov. 29, 2021 /PRNewswire/ -- The motor driver IC market size is anticipated to record a valuation of USD 1.5 billion by 2027, according to the most recent study by Global Market Insights Inc. The proliferation of smart home devices across developed economies such as the U.S., Japan, Italy, Germany, and France. The smart home technology devices, such as gaming consoles, robotic vacuums, and smart HVAC systems, are highly integrated with motor driver ICs. Adding to this, the integration of AI and IoT technologies into smart home devices will further support the market growth during the forecast timeline.

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The stepper motor driver IC segment is poised to witness 3.5% growth rate through 2027. The motor driver IC market expansion is credited to several high-end characteristics offered by the stepper motors such as high reliability, ruggedness, and low maintenance & simplicity of construction compared to brushed and brushless motors. These features will increase the uptake of stepper motor driver ICs in the market across various application sectors including automotive, consumer electronics, and medical & health care devices. Various medical devices and laboratory equipment, such as computerized blood analyzers, oxygen concentrators, X-Ray machines, etc., are integrated with stepper motors and ICs. The low noise and small size features of these devices make them an ideal choice for medical applications, fueling the segment growth during the forecast period.

The above 48 V segment in the motor driver IC market accounted for 5% of the market share in 2020 led by the increasing uptake of above-48 V motor driver ICs across heavy-duty machinery in the construction sector. The heavy-duty machinery units, such as dump trucks, compactors, motor graders, excavators, bulldozers, and telehandlers, are highly integrated with brushed and stepper motors. The rising adoption of motors in heavy-duty machinery and construction equipment will spur the segment expansion.

The industrial segment held around 25% of revenue share in 2020 and is estimated to attain a CAGR of 4% till 2027. The market progression is attributed to the increasing acceptance of robotics and automation across manufacturing and processing industries. According to October 2021 press release by International Federation of Robotics, over 384,000 industrial robots were shipped globally in 2020. The robot sales witnessed an increase of 10% y-o-y growth in 2020 compared to 2019. These industrial robots are integrated with motor driver ICs that improve the power efficiency and achieve high torque speed in robotics arms and sub-systems. The proliferation of smart factories will further propel the usage of motor driver ICs over the coming years.

Europe motor driver IC market is expected to expand at more than 5% CAGR during 2021 to 2027 owing to the presence of major automakers in the region such as BMW Group, Audi, PSA Group, and Daimler AG. These automakers are highly emphasizing on large-scale automotive manufacturing majorly passenger cars and electric vehicles. The motor driver ICs are highly incorporated into electric power steering, powertrain system, and automotive HVAC system, among others. The increasing production and sales of passenger cars in European economies will provide new growth opportunities for motor driver IC manufacturers in the region.

Key players operating in the motor driver IC market are Allegro MicroSystems, Inc., Dialog Semiconductor, Diodes Incorporated, Infineon Technologies AG, Maxim Integrated, Melexis, and Toshiba Electronic Devices & Storage Corporation. Major companies are are highly focusing on acquisitions, mergers, and collaborations to achieve a competitive advantage among other players in the market.

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Some major findings of the motor driver IC market report include:

• Technological advancements in brushed motor driver ICs such as integration of current limiter functionality will foster the segment value. The companies are also focusing on implementing advanced packaging technologies in manufacturing brushed motor driver ICs to achieve system miniaturization and energy-efficiency, further supporting the segment revenue.
• The power electrical tools, such as chainsaws, drilling machines, lawn movers, and gardening equipment, are highly integrated with motor driver ICs with 24 V – 48 V range. The proliferation of power electric tools and equipment will boost the motor driver IC market demand.
• Increasing electrification of vehicles will augment the industry growth.
• The COVID-19 pandemic severely affected the industry expansion in the early 2020. Several automakers and consumer electronics manufacturers have temporarily shut down their manufacturing facilities due to the stringent lockdown imposed by regulatory bodies in the first half of 2020. International trade restrictions and supply-chain disruptions further impacted the industry participants across the market.

Table of Contents (ToC) of the report:

Chapter 3 Motor Driver IC Market Insights

3.1  Industry segmentation

3.2  Impact analysis of corona virus (COVID-19) pandemic on market

3.2.1  Global outlook

3.2.2  Impact by region

3.2.3  Industry value chain

3.2.3.1  Research and development

3.2.3.2  Manufacturing

3.2.3.3  Marketing

3.2.3.4  Supply

3.2.4  Competitive landscape

3.2.4.1  Strategy

3.2.4.2  Distribution network

3.2.4.3  Business growth

3.3  Industry ecosystem analysis

3.3.1  Raw material and component suppliers

3.3.2  Manufacturers

3.3.3  Distribution channel

3.3.4  End-user

3.3.5  Vendor matrix

3.4  Technology & innovation landscape

3.4.1  Intelligent Phase Control (InPAC)

3.4.2  Active Gain Control (AGC) technology

3.5  Regulatory landscape

3.6  Industry impact forces

3.6.1  Growth drivers

3.6.2  Industry pitfalls and challenges

3.7  Growth potential analysis

3.8  Porter's analysis

3.9  PESTEL analysis

Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/motor-driver-ic-market 

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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