Gate Driver IC Market To Grow USD 1.88 Billion By 2030 At A CAGR of 5% | Valuates Reports
BANGALORE, India , Nov. 16, 2022 /PRNewswire/ -- The Global Gate Driver IC Market is Segmented by Transistor Type (MOSFET and IGBT), Semiconductor Material (Si, SiC, and GaN), Mode of Attachment (On Transistor and Discrete), Isolation Technique (Magnetic Isolation, Capacitive Isolation, and Optical Isolation), and Application (Residential, Industrial, and Commercial): Global Opportunity Analysis and Industry Forecast, 2020 - 2030. It is published in Valuates Reports under the Electronic Components Category.
The global Gate Driver IC market was valued at USD 1.2 Billion in 2020 and is projected to reach USD 1.88 Billion by 2030 at a cagr of 5% from 2021 to 2030
The major factor driving the growth of the Gate Driver IC market:
The adoption of smart home and smart grid technologies is rising, and there is a rising demand for high-voltage devices, which are two key aspects influencing the worldwide Gate Driver IC market. Additionally, gate driver ICs' sophisticated designs have an impact on the market.
Additionally, the market growth is somewhat impacted by the quick electrification of autos and the spike in power transistors in different renewable energy systems. During the projected period, it is expected that each of these variables would significantly affect the global Gate Driver IC market.
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TRENDS INFLUENCING THE GROWTH OF GATE DRIVER IC MARKET:
The in-home security infrastructure, including automated door locks, smart plugs, and lights, as well as other electronic equipment for the home, are all meant to communicate with users online. Therefore, the introduction of smart grid and smart home technology has the potential to boost gate driver IC sales. Smart grids and smart homes use electronic devices to assure power use, which necessitates the use of gate driver ICs to reduce energy consumption. This has a favorable impact on the gate driver IC and its demand, which in turn fuels the gate driver IC market's expansion. This factor is expected to drive the growth of the Gate Driver IC market.
New materials like SiC and GaN will increase the level of integration. GaN and SiC devices have both been under development for a very long period. To recover costs and optimize profits, businesses are turning away from component-level solutions and toward system-level ones. The acquisition of product portfolios and expertise from other companies can be advantageous for other businesses that have historically shied away from investing in these two materials. This factor is expected to drive the growth of the Gate Driver IC market.
One of the main problems hindering the expansion of the gate driver IC industry is design complexity. Long copper connections and a lot of transistors are common features of microprocessors. Transistors should also be incredibly reliable. Compared to other processor design chains, the gate driver IC design chain is significantly more complex. Gate driver efficiency is decreased by various complexities, including thinner IC versions, the usage of metallic enclosures, and others. The growth of the gate driver IC market is significantly constrained by the need for careful attention, accuracy, and a competent team in the production of good gate drivers. Since this factor adds to higher auto pricing, it is anticipated that the high cost of installation in autos will hamper the global market growth. Thus, the aforementioned factors are expected to drive the growth of the Gate Driver IC market.
The demand for electric and hybrid vehicles is rising quickly in the automotive sector. The requirement for gate driver ICs to regulate high-voltage power switches like IGBTs and MOSFETs to switch on/off more quickly and ensure the smooth operation of these devices has increased as a result.
The market for gate driver ICs is expanding as a result of a number of factors, such as rising demand for hybrid and electric cars, increased R&D spending by major industry participants, and increased use of gate driver ICs in emerging nations. Additionally, during the forecast period, high-end data transmission requirements in a variety of applications are anticipated to fuel Gate Driver IC market expansion.
GATE DRIVER IC MARKET SHARE ANALYSIS:
From 2020 to 2030, Asia Pacific would have the highest cagr of 5.8%. The rising use of semiconductors in the consumer electronics and automotive industries is one factor contributing to the region's growth. Additionally, IoT and 5G telecommunication services have become more popular in semiconductor production as companies broaden their product lines to strengthen their position in local markets. With a 56% market share, China is the most competitive market thanks to the region's growing need for a variety of product cases and configurations.
The chip segment is anticipated to be among the most profitable. An integrated circuit that can handle high current pulses improves performance, and uses less power is called an on-chip gate driver IC. These components are positioned between the controller and the load to transfer strong signals or currents with the fewest possible losses.
Based on the Isolation Technique, One of the most lucrative segments is anticipated to be capacitive isolation.
Based on isolation, One of the most lucrative segments is anticipated to be commercial.
Based on type, the IGBT category is anticipated to be among the most profitable.
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