Motor Driver IC (Integrated Circuit) Market worth $1.5bn by 2027

Motor Driver IC Market size is set to surpass USD 1.5 billion by 2027, according to a new research report by Global Market Insights Inc.
 

The market growth is attributed to the rising government initiatives and investments to boost the infrastructure development across developed economies. The government aims to upgrade four million commercial buildings with new advanced electric appliances and improved heating & cooling systems as a part of this plan. This will make it easier to install grid-connected power tools that require an efficient motor driver to manage the power supply, fostering the market expansion during the forecast timeline.
 

High sustainability issues, such as overheating and complex design associated with motor driver IC, are among the major factors restraining the market progression. Overheating in IC occurs as a result of the continuous use of industrial machinery and robots to manage high-power operations in plant facilities. Adding to this, the companies are experiencing difficulties in designing miniaturized ICs with enhanced temperature management features, suppressing the industry growth. Furthermore, researchers are experimenting with the use of liquid-immersion cooling technology to maintain the reliability and functioning of electronic devices in order to mitigate these issues.
 

Increasing vehicle safety regulations and growing adoption of brushless electric motors by OEMs will positively impact the market demand

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The brushless motor driver IC type held 40% of the market share in 2020 and is projected to witness 7% growth rate through 2027. The industry expansion is led by the rising integration of brushless electric motors into various automotive applications such as electric power steering, brake booster, and automotive HVAC compressors.
 

Brushless DC (BLDC) technology allows engineers to reduce design complexity, design smaller & efficient systems, and meet the functional safety standards. These BLDC motor drivers are quieter, lighter, and have a smaller design footprint and offer high reliability than typical brushed motor drivers. Several industry players are engaged in developing technically advanced BLDC motor drivers to cater to the high demand from the automotive sector.
 

Browse key industry insights spread across 250 pages with 423 market data tables and 26 figures & charts from the report, “Motor Driver IC (Integrated Circuit) Market Size By Type (Brushed Motor Driver IC, Brushless Motor Driver IC, Stepper Motor Driver IC), By Maximum Supply Voltage (Below 12 V, 12 V - 24 V, 24 V - 48 V, Above 48 V), By Application (Automotive, Industrial, Consumer Electronics & Home Appliances, Medical & Healthcare Devices), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/motor-driver-ic-market
 

Rising acceptance of energy-efficient motor driver Integrated Circuits (IC) in industrial motors and generators to spur the market value

The 12V – 24V supply voltage segment captured 30% of revenue share in 2020 and is estimated to attain a CAGR of 6.5% till 2027. The industry progression is credited to the increasing utilization of smart industrial pumps, motors, valves, and generators across industrial manufacturing and processing units. The industrial equipment is designed to operate 24x7 in plant facilities and requires stable and energy-efficient motor driver IC with a voltage rating of 12V – 24V. These ICs offer several features such as low energy consumption, over current detection, and support energy-efficient operations. The proliferation of stepper motors and brushed DC motors in industrial rollers, conveyor systems, and automated assembly lines will fuel the segment growth. Major leaders are extensively focusing on developing application-specific product portfolio to gain a competitive edge in the market.
 

Growing demand for smart home appliances and electronics will influence the market revenue

The consumer electronics and home appliances segment accounted for 20% of the market share in 2020 and is poised to expand at more than 8% by 2027. The industry demand is owing to the rising demand for smart home appliances, such as washing machines, mixers, grinders, air conditioners, and air humidifiers, which are integrated with motor driver integrated circuits. These ICs are used in smart home appliances to achieve uniformity in motor rotation and to maintain energy efficiency. The increasing usage of advanced technologies, such as AI and IoT, in the country has increased the demand for consumer electronics, further stimulating the industry value.
 

Proliferation of unmanned aerial vehicles and drones in North America will accelerate the market growth

North America motor driver IC market is anticipated to grow at a CAGR of over 6% during 2021 to 2027 impelled by the rising demand for Unmanned Aerial Vehicles (UAV) and drones in the U.S. According to a Federal Aviation Administration (FAA) press release from November 2021, the U.S. has recorded the registration of total 865,404 Unmanned Aircraft Systems (UAS), with recreational drones accounting for 522,839 units and commercial UAVs accounting for 338,974 units. These UAVs and drones are highly integrated with motor driver Integrated Circuits (IC) to achieve uniformity in propeller and brushless DC motor rotation while managing flying speed.
 

Key players operating in the market include NXP Semiconductors, ON Semiconductor, Panasonic Corporation, Renesas Electronics Corporation, ROHM CO., Ltd., STMicroelectronics, and Texas Instruments Incorporated. These companies are constantly engaged in new strategies such as new product launches in order to expand their product offerings and meet the high demand.