The latest report from Fact.MR also says that demand will suffer a drop in 2020 due to COVID-19
The global motor driver IC market is projected to register a CAGR of 6.2% from 2020 to 2030 and will reach a valuation of approximately $1.6 billion, according to a new Fact.MR report. 2030-end.
The research firm found that demand for motor driver ICs is gaining a boost from the expansion of the aerospace and defense industry in Japan, China and India. Demand for customized ICs from numerous OEMs will play an role in the market growth during the forecast period adds Fact.MR. Advancements in the semiconductor industry and the development of nano-sized IC with low power consumption are likely to offer greater opportunities for market players as well.
The COVID-19 outbreak has impacted the 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.
Brushless motor driver IC is estimated to account for nearly half of the market revenue by 2020 end. Use of Silicon Carbide (SiC) as a semiconductor material for motor driver IC is expected to register a 5.4% CAGR over the forecast period. Sales of MOSFET transistor gate motor driver ICs are projected to grow 1.7 times through 2030, while IGBT gate motor driver IC is projected to grow 2.1 times in terms of sales value. Capacitive isolated motor driver IC accounts for higher share over their magnetic and optical counterparts, representing revenue worth $469 million in 2020. Sales motor driver IC of above 48 V is projected to double during the forecast period. Application in consumer electronics is expected to represent a CAGR of 7.2% during the forecast period.
Prominent players of motor driver IC market include Toshiba Corporation, Mitsubishi Electric Corporation, Texas Instruments, Allegro Microsystems, STMicroelectronics, On Semiconductor, Semtech Corporation, Rohm and Maxim Integrated.
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