Digital Potentiometer IC Market size is expected to grow from USD 322 million in 2021 to USD 462.2 million by 2030

According to the Market Statsville Group (MSG), the global digital potentiometer IC market size is expected to grow from USD 322 million in 2021 to USD 462.2 million by 2030, at a CAGR of 4.1% from 2022 to 2030. The benefit of a digital potentiometer is that it can be operated in a closed loop and is not affected by dust, moisture, or dirt particles, which can damage the mechanical portion of it enters the system. The increasing number of technical advances in many sectors worldwide and the general digital revolution are propelling the global digital potentiometer IC market growth. One of the main drivers for big companies to spend heavily on digital innovation and change their traditional business models to automated ones is to grab value-generating possibilities, stay ahead of their competitors, and improve the continuity and reliability of their services.

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Global Digital Potentiometer IC Market Definition
A digital potentiometer is a variable resistor that trims and scales analog signals using digital signals and switches rather than mechanical action. The conservative passive potentiometer is restored using a digital potentiometer, which is an electrical device. The IC parameters are taken into account when designing a digital potentiometer. The digital potentiometer is encased to protect it from the elements.

COVID-19 Impact on the Global Digital Potentiometer IC Market
During the COVID-19 outbreak, the industrial operations of several sectors were either temporarily halted or operated with a reduced staff due to government-imposed lockdowns and limitations. This, in turn, has impacted the global economy in several areas. This was no exception in the global digital potentiometer IC market, where a halt in operations significantly negatively influenced revenue growth. Furthermore, these devices require high installation and maintenance costs; however, the travel restrictions have further constrained its deployment. This, in turn, significantly hampered the revenue growth of the global digital potentiometer IC market throughout the forecast period.

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Scope of the Global Digital Potentiometer IC Market
The study categorizes the digital potentiometer IC market based on type, application, and memory at the regional and global levels.

By Type (Revenue, USD Million, 2017-2030)
5 bits
6 bits
7 bits
8 bits
10 bits
By Application (Revenue, USD Million, 2017-2030)
Instrumentation
Communication
Home Appliances
Automotive Products
Others
By Memory (Revenue, USD Million, 2017-2030)
Volatile
Non-Volatile
By Region Outlook (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
The Netherlands
Norway
Czech Republic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA

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Instrumentation segment is projected to account for the largest market share, by application
Based on application, the global digital potentiometer IC market is divided into instrumentation, communication, home appliances, automotive products, and others. In 2021, the instrumentation segment accounted for the largest market share in the global digital potentiometer IC market. Rising incidences of diabetes and new product launches are further expected to drive the instrumentation segment growth in the digital potentiometer IC market.

Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global digital potentiometer IC market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to project the highest CAGR in the global digital potentiometer IC market during the forecast period. The countries expected to witness considerable growth in the region include China, India, Japan, and Southeast Asia. The regional growth is fueled by the rising adoption of cellphones, computers, and vehicle automation. As smartphone usage rates rise, the region has become one of the world's largest mobile markets. The need for LCDs is likely to rise in response to the increased demand for such devices, influencing the digital potentiometer IC industry in the region.

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Global Digital Potentiometer IC Market Players
The global digital potentiometer IC market is highly competitive, with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are focused on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players in the global digital potentiometer IC market are:

Analog Device
Texas Instruments
Microchip
AMS
ON Semiconductor
Maxim
Intersil
Vishay
Parallax
Renesas Electronics Corporation

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Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.
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