Future Market Insights’ report titled “Motor Control IC Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027” sees this market growing at a CAGR of 5% from 2017 to 2027. The motor control IC market was valued at $3,905 Million in 2017 and is projected to grow $6,344.2 Million by 2027. This growth, according to the researchers, is attributed to the increasing use of motor control ICs in the manufacturing of medical equipment and in the automotive industry.
- The brushed DC motor sub-segment of the global motor control IC market is projected to register 52.6% market share at the end of 2018. In addition, in terms of volume, the brushless DC motor sub-segment is also expected to register a CAGR of 6%
- The global motor control IC market is segmented into automotive, building control, industrial automation, consumer electronics, healthcare and others.
- The increasing demand for motor control ICs in the industrial automation sector is one of the major factors driving the market.
- Growth potential of the market is exhibited in various regions that include Latin America (Brazil, Mexico & the rest of Latin America), North America (U.S. & Canada), Europe (Germany, Italy, France, Spain, U.K. & the rest of Europe), Japan, APEJ (China, India, Malaysia, Australia, Singapore & the rest of APEJ) and MEA (GCC Countries, Israel, South Africa & the rest of MEA).
- Key players in the global motor control IC market report include Rockwell Automation, General Electric Company, ON Semiconductor, Siemens AG, Toshiba Corporation, ABB Ltd., Schneider Electric SE, Maxim Integrated, and NXP Semiconductors.
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