Latest News- Motor Driver Ics Market: AC motor drive IC is expected to lead the Type segment during 2025-2029

The Motor Driver Ics Market is being driven by Growth of electric vehicles (EVs)

The Motor Driver Ics Market is expected to grow at a CAGR of 6.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1805.1 million. The global motor driver ICs market is experiencing a notable trend of new product launches by major industry players, focusing on improving performance, efficiency, and integration in various applications. For instance, on July 23, 2024, STMicroelectronics, headquartered in Geneva, Switzerland, announced the EVLDRIVE101-HPD motor-drive reference design. This groundbreaking product integrates the new STDRIVE101 3-phase gate driver IC, housed within a compact 50mm diameter board. Key features include a 750W power stage, an STM32G0 microcontroller, and advanced motor control options such as trapezoidal and field-oriented control. Notably, this design offers ultra-low power consumption in sleep mode, below 1µA, making it an ideal solution for diverse applications, including home appliances, drones, robots, and industrial equipment. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • AC motor drive IC
  • DC motor drive IC
  • Stepper motor drive IC
  • Others
• End-user
  • Automotive
  • Industrial automation
  • Consumer electronics
  • Healthcare
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth of electric vehicles (EVs)
• Growth in consumer electronics in emerging economies
• Rising automation in industries

However, the market also witnesses some limitations, which are as follows:

• Regulatory compliance and safety
• Prevalence of counterfeit products
• Raw material and supply chain issues

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Market Scope in Motor Driver Ics Market Research Report

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Research Analysis Overview

The Motor Driver ICs market encompasses power electronics technology, playing a crucial role in mechatronics and electrical engineering. It powers smart city infrastructure, precision engineering, and advanced applications like computer vision, data analytics, predictive maintenance, and autonomous vehicles. High-performance, energy-efficient solutions are in demand for future mobility, including motor control in robotics, navigation systems, intelligent systems, and sensor technology. Motor control's future lies in deep learning, machine learning, and embedded systems, with breakthroughs in motor control hardware, algorithms, and software for stepper motors and brushless DC motors.

Market Research Overview

The global electronics market encompasses a range of sectors, including communications equipment, technology hardware and storage, electronic equipment and instruments, and electronic manufacturing services. Within this market, the electronic components segment is a significant contributor, featuring manufacturers of various components such as connectors, capacitors and resistors, transformers and inductors, and lighting products. Driven by the increasing demand for IoT devices, drones, CNC machines, AI, and unmanned aerial vehicles, the global electronic components market is poised for growth. Technavio's market analysis indicates that this expansion will be fueled by the proliferation of IoT devices, the integration of advanced technologies like AI in various industries, and the rising adoption of piezoelectric motor drivers in automation and robotics applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/