In 2022, the global Motor Driver IC Market is poised to attain a value of approximately $732.2 million. Over the next decade, this market is projected to exhibit a steady growth rate, with a compound annual growth rate (CAGR) of 6.9%, ultimately reaching a value of $1,567.3 million by the conclusion of 2032.
This anticipated growth is driven by several key factors. Increased automation and digitalization across various industries, combined with the widespread applicability of motor driver ICs, are expected to play a pivotal role. Furthermore, the rising adoption of IoT devices is spurring advancements in the telecommunications and semiconductor sectors, which, in turn, are fueling demand for motor driver ICs throughout the forecast period.
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In robotics, motor driver ICs are frequently used to connect microcontrollers to DC motors. They are commonly utilized in automation since they are a crucial part of autonomous robot motion control. They can also be found in settings that are more typical, such as office appliances and automotive electronics. DC motors can be used in goods like electronic goods, the automotive industry, ATM Machines, and many other appliances.
The market is about to witness significant growth in the coming years due to increased automation and digitalization. The rising adoption of internet of things (IoT) devices results in the advancement of the telecom and semiconductor industry, leading to an increase in demand for motor driver IC.
Key Takeaways from Market Study:
- The global Motor Driver IC market is projected to grow 7.9% and reach US$ 1,567.3 million by 2032.
- The market witnessed 3.9% CAGR between 2017 and 2021.
- The Motor Driver IC dominates the market with US$ 732.2 million valuations in 2022.
- North America dominated the market with 23.4% market share in 2021.
- South Asia and East Asia are likely to represent 17.9% and 22.5% market share in 2022, respectively.
- Based on region, demand for Motor Driver IC is expected to increase at CAGRs of 5.4% and 7.5%, respectively, in Europe and South Asia during 2022-2032.
“Advanced smart home devices provide a route to scaling Motor Driver IC sales creating consistency in demand,” says a Fact.MR analyst.
Competitive landscape:
All the industry leader in ICT are making their own strategy to stand out from other competitors in the motor driver IC market. The brands like Toshiba Corporation, Mitsubishi Electric Corporation, Texas Instruments, Allegro Microsystems, Dialog Semiconductor PLC, STMicroelectronics, ON Semiconductor, Rohm Co Ltd, Fairchild Semiconductor, Semtech Corporation, Maxim Integrated, and other leading players have started manufacturing the motor driver IC to meet the consumer preference.
In order to fulfill the rising demand from OEMs and commercial clients, major players in the motor driver IC market are expanding their production capacities. Companies wanting to expand their capacity anticipate working with worldwide suppliers to ensure their global presence. Key players have been able to reach their targeted client group and enhance product flow in the market thanks to the adoption of the push approach.
Additionally, tailored items that are order- and application-specific for the sector have aided major firms in developing products that meet customer needs and launching them onto the market.
Fact.MR has provided detailed information about the price points of key manufacturers of motor driver IC positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Motor Driver IC Industry Research:
- By Motor Type:
- Brushed
- Brushless
- Stepper
- By Isolation:
- Magnetic
- Captive
- Optical
- By Mode of Attachment:
- On-Chip
- Discrete
- By Supply Voltage:
- Below 24 V
- 24-48 V
- >48 V
- By Application:
- Automotive
- Aerospace & Defense
- Industrial Automation
- Consumer Electronics
- Healthcare
- Others
- By Region:
- North Americas
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Questionnaire answered in the Market outlook Report of Motor Driver IC include:
- What is the key strategy deployed by large players to maximize Motor Driver IC Market growth?
- What are the main challenges faced by players in the Motor Driver IC market Demand?
- With the advent of technological advancement, how will the Motor Driver IC market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Motor Driver IC market size?
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