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LONDON, GREATER LONDON, UNITED KINGDOM, June 17, 2025 /EINPresswire.com/ -- The motor driver integrated circuit IC market size has been experiencing swift growth in recent years, with expectations for this trend to continue. The industry was valued at $5.98 billion in 2024, and by the end of 2025, it is projected to increase to $6.81 billion, marking a compound annual growth rate CAGR of 13.7%. Upon review, the report attributes this growth during the historical period to several factors including demand for consumer electronics, a rise in industrial automation, the growth of electric vehicles, the expansion of robotics applications, and the widespread adoption of energy-efficient systems.
What Does Growth Look Like For The Motor Driver IC Market Going Toward 2029?
Continuing its strong upward trajectory, the motor driver IC market size is anticipated to reach an impressive $11.22 billion by 2029. This represents a compound annual growth rate CAGR of 13.3%. A myriad of factors are set to influence this growth in the forecast period, including a rise in electric and hybrid vehicles, the demand for automation in industries, an increased use of home appliances, a growing focus on energy conservation, and the boosting popularity of drones. Major trends in the forecast period include advancements in gallium nitride technology, developments in silicon carbide-based drivers, innovations in compact circuit designs, vigorous research and development in motor control, and the integration of artificial intelligence.
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How Are Electric Vehicles Driving The Motor Driver IC Market?
One key factor propelling the growth of the motor driver IC market is the increased adoption of electric vehicles. These vehicles are powered entirely or partially by electricity stored in rechargeable batteries, thus replacing sole reliance on internal combustion engines fueled by gasoline or diesel. This shift is primarily due to the rising environmental concerns as consumers and governments seek ways to reduce greenhouse gas emissions and dependence on fossil fuels in the fight against climate change. Motor driver integrated circuits IC are integral to electric vehicles, controlling motor functions efficiently and enabling precise speed, torque, and direction management for improved performance and energy efficiency. According to the International Energy Agency, in the first quarter of 2024, electric car sales increased by approximately 25% compared to the same period in 2023, mirroring the year-on-year growth observed in the first quarter of 2022. Thus, it's clear that the increasing adoption of electric vehicles is a significant driver of the motor driver IC market.
Who Are The Key Players In The Motor Driver IC Market?
There are several major companies operating in the motor driver integrated circuit IC market, including Panasonic Corporation, Toshiba Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Fuji Electric Co. Ltd., Microchip Technology Incorporated, ROHM Co. Ltd., Novatek Microelectronics Corp, Diodes Incorporated, Monolithic Power Systems Inc., Melexis N.V., Alpha & Omega Semiconductor AOS, Allegro MicroSystems Inc., Power Integrations Inc., Wolfspeed Inc., Sanken Electric Co. Ltd.
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What Are The Emerging Trends In The Motor Driver IC Market?
Companies in the motor driver IC market are laser-focused on developing innovative solutions like power management ICs to support high-performance designs and improve energy efficiency. Power management ICs assist motor driver ICs in operating more efficiently and safely by providing a stable and optimized power supply.
How Is The Motor Driver IC Market Segmented?
The motor driver integrated circuit IC market has been segmented based on several parameters -
1 By Type: Brushed Direct Current Motor Driver Integrated Circuit IC, Brushless Direct Current Motor Driver Integrated Circuit IC, Stepper Motor Driver Integrated Circuit IC
2 By Technology: Complementary Metal-Oxide-Semiconductor CMOS, Bipolar, Bipolar-Complementary Metal-Oxide-Semiconductor BiCMOS, Gallium Nitride GaN, Silicon Carbide SiC
3 By Functionality: Speed Control, Position Control, Torque Control
4 By Application: Automotive, Industrial Automation, Consumer Electronics, Healthcare, Other Applications
5 By End-User: Original Equipment Manufacturers, After market.
What Are The Regional Insights Into The Motor Driver IC Market?
Asia-Pacific was the largest region in the motor driver integrated circuit IC market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the motor driver integrated circuit IC market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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