Gate Driver IC Market To Garner $1.88 billion by 2030, Driven by Adoption of Smart Home and Smart Grid Technologies

The gate driver IC market size will reach $1.88 billion by 2030 at a CAGR of 5.0% from 2021 to 2030. By transistor type, MOSFET accounted more market share than IGBT in 2020 and is expected to maintain this trend during the forecast period

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The key factor that drives the gate driver IC market growth include the growing adoption of smart home and smart grid technologies and increase in need for high voltage operating devices. The key factors that hamper the growth of this market is the design complexities of gate driver ICs. The opportunity lies in the rapid electrification of automobiles and surge of power transistors in various renewable energy systems.

A gate driver is a power amplifier that accepts a low-power input from a controller IC and produces a high-current drive input for the gate of a high-power transistor such as an IGBT gate driver IC or power MOSFET gate driver IC. Gate driver MOSFET is widely used for switching purposes, hence is comparatively popular than IGBT. Gate drivers can be provided either on-chip or as a discrete module. In recent years, a much greater percentage of home appliances, electric vehicles, hybrid vehicles, including mild hybrids, and renewable energy products have implemented dedicated power semiconductors devices on-board, which are creating demand for gate driver ICs market and gate driver IC industry globally.

The supply chain of the gate driver is evolving, pushed by higher integration needs, as well as an increasing need for more complete product solutions. In addition to gate driver IC manufacturers, other players emerged along the supply chain to offer alternative solutions for various power management needs.

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The report offers detailed segmentation of the global gate driver IC market based on transistor type, semiconductor material, mode of attachment, isolation technique, application, and region.

Based on transistor type, the MOSFET segment accounted for the largest market share in 2020, holding nearly two-thirds of the total share, and is expected to maintain its leadership status during the forecast period. However, the IGBT segment is estimated to register the fastest CAGR of 6.1% from 2021 to 2030.

Based on application, the industrial segment contributed to the highest market share in 2020, accounting for nearly half of the global gate driver IC market, and is projected to continue its lead in terms of revenue during the forecast period. However, the commercial segment is estimated to witness the highest CAGR of 6.7% from 2021 to 2030.

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North America is the largest region, in terms of revenue generation, in the global gate driver IC market. The consumer electronics industry is well-established in North America, which has led to increased adoption of enhanced technologies. In addition, rapid growth in the sales of smart consumer electronic products supplements the market growth. Moreover, increase in adoption of electric vehicles across the world drives the global gate driver IC market share.

The overall impact of the pandemic is impacting the production process of several industries, including semiconductor and electronics. Trade barriers are further constraining the demand and supply outlook. The overall production process is adversely affected as governments of different countries have already announced total lockdown and temporary shutdown of industries.

The key players profiled in the report include Infineon Technologies, NXP Semiconductors, Renesas Electronics, STMicroelectronics, Toshiba, Texas Instrument, ROHM Semiconductors, Mitsubishi Electric Corporation, ON Semiconductor, and Semtech. These key players have adopted several strategies, such as new product launch & development, acquisition, partnership & collaboration, and business expansion, to increase their footprint in the gate driver IC industry during the forecast period.

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Key Findings Of The Study
• The commercial sector is projected to be the major application during the forecast period.
• Asia-Pacific and Europe dominate the market in 2020.
• Europe is anticipated to witness highest growth rate during the forecast period.
• U.S. was the major shareholder in 2020 in the North America gate driver IC market.

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