Portland,OR, Oct. 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global gate driver IC market garnered $1.2 billion in 2020, and is expected to generate $1.88 billion by 2030, registering a CAGR of 5.0% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top investment pockets, regional landscape, major segments, value chain, and competitive scenario.
Rise in adoption of smart home and smart grid technologies and need for high voltage devices drive the growth of the global gate driver IC market. However, design complexities involved with gate driver ICs hinder the market growth. On the other hand, increase in power transistors in various renewable energy system and rapid electrification of automobiles present new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities in the electronics and semiconductors sector have been halted during the Covid-19 pandemic due to lockdown measures, unavailability of workforce, and supply chain disruptions worldwide. This affected the production volumes of gate driver ICs.
- The demand from applications sectors such as residential, commercial, and others decreased significantly due to stoppage of new construction and maintenance activities during the lockdown. However, the demand would regain during the post-lockdown.
- Market players have been carrying out assessment of their business strategies to ensure business continuity and adopting quick response strategies for recovering the supply chain and conduct seamless distribution.
The report offers detailed segmentation of the global gate driver IC market based on transistor type, semiconductor material, mode of attachment, isolation technique, application, and region.
Based on transistor type, the MOSFET segment accounted for the largest market share in 2020, holding nearly two-thirds of the total share, and is expected to maintain its leadership status during the forecast period. However, the IGBT segment is estimated to register the fastest CAGR of 6.1% from 2021 to 2030.
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Based on application, the industrial segment contributed to the highest market share in 2020, accounting for nearly half of the global gate driver IC market, and is projected to continue its lead in terms of revenue during the forecast period. However, the commercial segment is estimated to witness the highest CAGR of 6.7% from 2021 to 2030.
Based on region, Asia-Pacific held the largest share in 2020, accounting for more than half of the total share, and is estimated to continue its dominance in terms of revenue by 2030. Moreover, this region is projected to portray the largest CAGR of 5.8% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
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Leading players of the global gate driver IC market analyzed in the research include Infineon Technologies, Renesas Electronics, NXP Semiconductors, Toshiba, STMicroelectronics, ROHM Semiconductors, Texas Instrument, ON Semiconductor, Mitsubishi Electric Corporation, and Semtech.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
