Driven by these trends, a recent research report by GMI Inc. has speculated that the motor driver IC market sector could record a valuation of USD 1.5 billion by 2027. “The rapid integration of artificial intelligence and IoT technologies across smart home devices will foster the motor driver integrated circuit sales in the forthcoming years.”

Motor driver ICs are primarily used as controlling devices in embedded circuits and autonomous robots. The ever-changing consumer requirements and continuous evolution of technology across the globe have led to the automation and digitalization of consumer electronics and appliances like refrigerators, microwaves, washing machines, gaming consoles, HVAC systems, etc., over the recent years. Moreover, changing lifestyles and rising disposable incomes have increased consumer spending on these appliances. This can be attributed to comfortable living standards that became commonplace due to at-home norms during the pandemic, which has thereby indirectly led to an upsurge in motor driver IC market share.

Get a sample copy of this research report @ https://www.gminsights.com/request-sample/detail/5154

The motor driver IC market is gaining significant impetus due to the increasing automation and integration of advanced technologies like IoT and AI across several verticals, including aerospace & defense, telecom, semiconductor industries. Besides, escalating technological advancements and surging innovations like self-driving cars across the automobile sector are expected to strengthen the industry outlook in the foreseeable future.

Massive demand for consumer durables

Consumer electronics is a huge market, and industry players are expanding their operations across developing economies to fuel the development of electronic components to meet the growing requirements of their consumers. As per the IBEF 2021 statistics, the electronics hardware industry in India could be worth USD 400 billion by 2024, while the electronics manufacturing segment may project a 30% year-on-year growth rate during 2020–25. Regarding appliances and consumer electronics, the industry witnessed a 16.51% increase in exports and an 8% increase in total sales in 2020 compared to 2019.

Such statistics, in line with favorable government policies regarding FDI and electrification of rural areas globally, will foster the development of consumer electronics. This, in turn, will support the motor driver IC market forecast in the years ahead.

Advancing industrial automation

Artificial Intelligence holds tremendous potential for robotic applications, facilitating a spectrum of benefits in sectors as myriad as manufacturing and healthcare. With the immense proliferation in automation sales and favorable economic conditions in developed economies like the U.S., the users and manufacturing sector have revved their orders for robotics and other forms of advanced technologies in recent years.

While organizations have long recognized the significance of automation in increasing efficiencies, expanding production, and empowering human employees to accomplish more beneficial jobs, the apocalypse enabled even more enterprises to realize those advantages.

Request for customization @ https://www.gminsights.com/roc/5154

As per a recent International Federation of Robotics report, with a 10% increase in sales, over 3 million industrial robots are functioning in enterprises across the globe. Despite the ongoing COVID-19 crisis, new robot sales experienced a hike of 0.5%, shipping approximately 384,000 units in 2020. The trend was dominated by the robust industry growth across the Asia Pacific region.

As more industries begin to recognize the significance of robotics to reverse productivity declines and fill repetitive jobs, the deployment of robots and automated systems will no longer remain a choice. With increasing industrial automation, motor driver IC market trends will experience a transformation in the years ahead.

Table of Contents (ToC) of the report:

Chapter 1 Methodology and Scope

1.1 Scope & definition

1.2 Methodology & forecast

1.3 Data Sources

1.3.1 Primary

1.3.2 Secondary

Chapter 2 Executive Summary

2.1 Motor driver IC market 3600 synopsis, 2016–2027

2.1.1 Business trends

2.1.2 Regional trends

2.1.3 Type trends

2.1.4 Maximum supply voltage trends

2.1.5 Application trends

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Aashit Tiwari

Corporate Sales, USA

Global Market Insights Inc.

Toll Free: 1–888–689–0688

USA: +1–302–846–7766

Europe: +44–742–759–8484

APAC: +65–3129–7718

Email: sales@gminsights.com