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Sep 17, 2023

Motor Control IC Market is Anticipated to Proliferate at a CAGR of 5.3% from 2023 to 2033

The motor control integrated circuits market is anticipated to increase from US$

The motor control integrated circuits market is anticipated to increase from US$ 5.2 billion in 2023 to US$ 8.7 billion by 2033. From 2023 to 2033, demand for motor control IC is expected to increase at a CAGR of 5.3%.

In recent years, motor control ICs have increasingly found use in the automobile sector. This is brought on by increased demand for connected and autonomous vehicles as well as automation in the automobile industry.

The market is also anticipated to increase over the next few years as a result of rising IoT technology adoption and rising investments in the deployment of disruptive IC technologies in the semiconductor and telecom industries.

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The demand for motor control integrated circuits is also quite significant in other sectors including consumer electronics and aerospace & military. The substantial advancements in the semiconductor industry concerning AI applications, device topology, chip efficiency, and manufacturing costs are the cause of the rising demand from these sectors.

The use of motor control ICs is growing owing to the acceptance of IoT technologies and investments in the deployment of new technologies. These elements are accelerating market expansion.

The global motor control IC market is dominated by North America. Applications across a variety of industries, the expanding automobile industry, rising consumer electronics demand, and the expanding manufacturing industry are all credited with this expansion. The market for motor control IC devices is anticipated to rise as a result of these causes.

Key Takeaways

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Competitive Landscape

Key players operating in the motor control IC market are Rockwell Automation, Infineon Technologies AG, Schneider Electric SE, General Electric Company, Siemens AG, Maxim Integrated, ON Semiconductor, Toshiba Corporation, NXP Semiconductors, STMicroelectronics, and others.

Smart devices are becoming more popular among players in developed nations. Leading companies are emphasizing product innovation and providing motor control ICs for both industrial and commercial applications. These elements are promoting market expansion.

Recent Developments

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Motor Control IC Market Survey By Category

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