By 2033, the motor control IC market is anticipated to have grown from US$ 5.2 billion to US$ 8.7 billion. It is expected that from 2023 to 2033, demand for motor control IC would increase at a CAGR of 5.3%.
Market revenue for motor control integrated circuits is anticipated to increase from US$ 5.2 billion in 2023 to US$ 8.7 billion by 2033. During the years 2023–2033, the demand for motor control IC is expected to increase at a CAGR of 5.3%.
Motor control ICs are used in industries such as automotive and medical applications and as intelligent motor/actuator controllers for industrial purposes. Motor control ICs are generally connected to a power supply and control circuitry in the form of digital and analog input signals.
In this report, FMI has segmented the global motor control IC market by type, by industry, and by region. By type, the motor control IC market is sub-segmented into brushed DC motor, brushless DC motor, and stepper motor. The brushed DC motor sub-segment of the global motor control IC market is projected to register a 52.6% market share at the end of 2018.
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By industry, the global motor control IC market is segmented into automotive, building control, industrial automation, consumer electronics, healthcare and others. In terms of value, the motor control IC market in industrial automation industry is projected to grow at a CAGR of 6.3% during the forecast period.
In addition, the increasing demand for motor control ICs in the industrial automation sector is one of the major factors driving the market. Moreover, the industrial automation industry is expected to create an incremental opportunity of $ 644.9 Mn between 2018 and 2027 in the motor control IC market.
In addition, the report covers the trends driving all the segments and offers insights & analysis about the growth potential of the market in various regions, which include Latin America (Brazil, Mexico & the rest of Latin America), North America (U.S. & Canada), Europe (Germany, Italy, France, Spain, U.K. & the rest of Europe), Japan, APEJ (China, India, Malaysia, Australia, Singapore & the rest of APEJ) and MEA (GCC Countries, Israel, South Africa & the rest of MEA).
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The revenue contribution of Europe is estimated to increase at a CAGR of 6.2% over the forecast period. Technological advancements and constant innovations in the motor control IC market is fuelling the adoption of motor control ICs in this region.
According to FMI analysis, strategies such as product innovations, improvements in quality and others are expected to increase revenue, which is likely to enable the vendors of Motor driver IC to reach new growth markets. Infineon Technologies AG, which is one of the prominent vendors of motor control IC, is offering motor control IC for different application areas such as commercial and industrial purposes.
As per FMI analysis, Infineon Technologies AG is upgrading its existing products to boost its customer base by improving the experience of its customers. Some of the participants in the global motor control IC market report are Rockwell Automation, General Electric Company, ON Semiconductor, Siemens AG, Toshiba Corporation, ABB Ltd., Schneider Electric SE, Maxim Integrated and NXP Semiconductors.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Motor Control IC Market review , outlook , forecast , demand , size , share , key trends , analysis , Research , overview
Jun 09, 2023
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