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Battery Fuel Gauge IC Market Estimated to Experience a Hike in Growth by 2030
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Growing Demand for Battery Fuel Gauge IC for Consumer Electronics Applications
Battery fuel gauge ICs are largely used in consumer electronic devices such as smartphones, laptops, notebooks, and digital cameras as it determines how long the battery can provide continuous power supply
Battery fuel gauge IC increases battery runtime and lifespan of consumer electronic devices by combining a small footprint with outstanding measurement accuracy and extremely low power consumption
The exponential adoption of lithium batteries in consumer electronics applications is propelling their market growth and development, as lithium ion batteries have long life compared to lead acid and other type of batteries. As a result of these factors, demand for lithium ion (Li-ion) batteries in consumer electronics devices is growing, which is expected to drive the global battery fuel gauge IC market during the forecast period.
However, as a Li-ion cell ages, it loses its ability to store charge due to which it delivers the usable voltage for a shorter period of time than a newer cell even if it is fully charged, which is anticipated to moderately restrain the growth of the global battery fuel gauge IC market
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North America to Lead the Battery Fuel Gauge IC Market
In terms of region, the global battery fuel gauge IC market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America is anticipated to dominate the global battery fuel gauge IC market throughout the forecast period, as a large number of manufacturers of battery fuel gauge ICs operate in the region.
Additionally, many well-established players based in North America are focusing on development of new technology in battery fuel gauge IC which is expected to boost the market in the region during the forecast period. The battery fuel gauge IC market in Europe and Asia Pacific is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Battery Fuel Gauge IC Market
The global battery fuel gauge IC market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancements and expansion to meet the rising demand for battery fuel gauge IC. Moreover, manufacturers are signing partnerships for the development of innovative products.
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Key players operating in the global battery fuel gauge IC market are:
Analog Devices, Inc.
Linear Technology
Maxim Integrated
Microchip Technology Inc.
ON Semiconductor
Orion BMS
Renesas Electronics Corporation
ROHM CO., LTD.
STMicroelectronics
Texas Instruments Incorporated
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