Demand for Motor Driver IC Market to Grow 1.8X by 2030

Global motor driver IC market is projected to register a CAGR of 6.2% during the assessment period (2020-2030) and hit a valuation of ~US$ 1.6 Bn by 2030-end. As conventional consumer media devices are increasingly replaced by smart electronics dedicated for specific functionality, demand for motor driver IC continues to move on an upward swing. With rapid penetration of consumer electronics and the rise of autonomous robots, key players are targeted towards customized offerings to maintain a strategic position in the market.

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Demand for motor driver ICs is gaining a boost from expansion of aerospace and defense industry in Asian countries such as Japan, China, and India. Furthermore, mounting demand for customized ICs from numerous OEMs will play an instrumental role in the market growth during the forecast period. In addition, robust advancements in the semiconductor industry and development of nano-sized IC with low power consumption are likely to offer greater opportunities for market players.

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Motor Driver IC Market: Segmentation

Fact.MR has studied the motor driver IC market with detailed segmentation on the basis of type, fabrication, material, application and key regions.

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Key Players to Focus on Product Innovation and Regional Expansion

Prominent players of motor driver IC market include Toshiba Corporation, Mitsubishi Electric Corporation, Texas Instruments, Allegro Microsystems, LLC., STMicroelectronics N.V., On Semiconductor, Semtech Corporation, Rohm Co. Ltd. and Maxim Integrated.

Key players are adopting aggressive growth strategies for establishing their presence over the regional and global market. These players are also focusing on product innovation and capacity expansion to meet increasing demand compatible with associated application usage.

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