Companies in the Motor Driver IC Market are facing issues in keeping their production facilities fully functional due to shortage of staff and resources amidst the COVID-19 (Coronavirus) outbreak. Get a hands-on over key drivers and threats to the Motor Driver IC Market to make your company future-ready post the pandemic. Avails out reports for exciting prices to learn new opportunities that companies can capitalize on during and after the Coronavirus crisis.
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Global motor driver IC market is projected to register a CAGR of 6.2% during the assessment period (2020-2030) and hit a valuation of ~US$ 1.6 Bn by 2030-end. As conventional consumer media devices are increasingly replaced by smart electronics dedicated for specific functionality, demand for motor driver IC continues to move on an upward swing. With rapid penetration of consumer electronics and the rise of autonomous robots, key players are targeted towards customized offerings to maintain a strategic position in the market.
Demand for motor driver ICs is gaining a boost from expansion of aerospace and defense industry in Asian countries such as Japan, China, and India. Furthermore, mounting demand for customized ICs from numerous OEMs will play an instrumental role in the market growth during the forecast period. In addition, robust advancements in the semiconductor industry and development of nano-sized IC with low power consumption are likely to offer greater opportunities for market players.
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The COVID-19 outbreak has severely impacted demand for consumer electronics and automotive products. Nationwide lockdowns and movement restrictions triggered by the pandemic are also showing fragility in production, supply chains, and access to various products, particularly motor driver ICs. Further, the second wave of coronavirus cases in contained regions is set to hamper the motor driver IC market during the forecast period. For instance, in China, the second wave of COVID has created new hotpots and similar trend is projected to witness in other regions, thereby creating downside risk of the market.
Key Takeaways of Global Motor Driver IC Market
- Brushless motor driver IC is estimated to account for nearly ½ of the market revenue by 2020 end, and gain 116 BPS by 2030.
- Use of Silicon Carbide (SiC) as semiconductor material for motor driver IC is expected to register a 5.4% CAGR over the forecast period and account for revenue worth US$ 907.7 Mn by 2030-end.
- Sales of MOSFET transistor gate motor driver ICs are projected to grow 1.7X through 2030, while IGBT gate motor driver IC is projected to grow 2.1X in terms of sales value.
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- Capacitive isolated motor driver IC accounts for higher share over their magnetic and optical counterparts, representing revenue worth US$ 469.1 Mn in 2020.
- Discrete mode of attachment for motor driver IC is estimated to account for 42% of the market revenue in 2020, and gain 410 BPS by 2030.
- Sales motor driver IC of above 48 V is projected to grow 2.0X during forecast period, while demand of 24-48V segment increases at a significant rate.
- Application in consumer electronics continues to influence growth strategies of market players and is expected to represent a CAGR of 7.2% during forecast period
“Much of the recent attention regarding connected devices and autonomous robots has revolved around the semiconductor industry. Strong focus on autonomous business process, advanced analytics, AI-powered continuous interfaces will remain instrumental to future demand for motor driver IC,” says the Fact.MR analyst.
Key Players to Focus on Product Innovation and Regional Expansion
Prominent players of motor driver IC market include Toshiba Corporation, Mitsubishi Electric Corporation, Texas Instruments, Allegro Microsystems, LLC., STMicroelectronics N.V., On Semiconductor, Semtech Corporation, Rohm Co. Ltd. and Maxim Integrated.
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Key players are adopting aggressive growth strategies for establishing their presence over the regional and global market. These players are also focusing on product innovation and capacity expansion to meet increasing demand compatible with associated application usage.
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