Press release
Gate Driver Integrated Circuit (IC) Market Forecast 2024: Driving Power Electronics Innovation
Gate Driver Integrated Circuit (IC) Market Forecast
The new report published by The Business Research Company, titled Gate Driver Integrated Circuit (IC) Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the gate driver IC (integrated circuit) market size has grown strongly in recent years. It will grow from $1.42 billion in 2023 to $1.51 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The gate driver IC (integrated circuit) market size is expected to see strong growth in the next few years. It will grow to $1.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
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What Is Driving The Growth Of The Global Gate Driver Integrated Circuit (IC) Market?
Rising Electric Vehicle Adoption Boosts Growth In The Gate Driver Integrated Circuit (IC) Market
The increasing adoption of electric vehicles (EVs) is expected to propel the growth of the gate driver integrated circuit (IC) market going forward. The rise in electric vehicle (EV) adoption is fueled by improvements in battery technology, supportive government policies, heightened environmental consciousness, and the development of charging infrastructure. Gate driver integrated circuits (ICs) are used in electric vehicles to control the power transistors in the vehicle's power electronics, enabling efficient and precise management of electric motor operations and battery systems. For instance, in April 2024, according to the International Energy Agency, a France-based autonomous organization, nearly 14 million new electric cars were registered globally in 2023, bringing the total to 40 million and representing a 35% year-on-year increase with 3.5 million more sales than in 2022. Therefore, the increasing adoption of electric vehicles (EVs) is driving the growth of the gate driver integrated circuit (IC) market.
What Is The Key Trend In The Global Gate Driver Integrated Circuit (IC) Market?
Integration Of Digital Technologies In Gate Driver Integrated Circuit (IC) Market
Major companies operating in the gate driver integrated circuit (IC) market are focusing on developing innovative products, such as gate driver integrated circuits with embedded microcontrollers, to deliver sensorless control of three-phase brushless DC motors. Gate driver ICs with embedded microcontrollers are semiconductor components that integrate both gate-driving functions and a microcontroller unit to provide advanced control and monitoring capabilities for power transistors in electronic systems. For instance, in March 2024, Toshiba Electronic Devices & Storage Corporation, a Japan-based electronics company, launched the SmartMCD Series of gate driver ICs, featuring an embedded microcontroller, aimed at enhancing the control of three-phase brushless DC motors in automotive applications. The first product in this series, the TB9M003FG, is designed for sensorless control of motors used in various automotive systems, such as water and oil pumps, fans, and blowers.
How Is The Global Gate Driver Integrated Circuit (IC) Market Segmented?
The gate driver integrated circuit (IC) market covered in this report is segmented -
1) By Type: Metal-Oxide-Semiconductor Field-Effect Transistor (MOSFET), Insulated-Gate Bipolar Transistor (IGBT)
2) By Semiconductor Material: Silicon (Si), Silicon Carbide (SiC), Gallium Nitride (GaN)
3) By Mode Of Attachment: On-Chip, Discrete
4) By Isolation Technique: Magnetic Isolation, Capacitive Isolation, Optical Isolation
5) By Application: Residential, Industrial, Commercial
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How Is The Competitive Landscape Of The Global Gate Driver Integrated Circuit (IC) Market?
Major companies operating in the gate driver integrated circuit (IC) market are Mitsubishi Electric Corporation, Broadcom Inc., Toshiba Corporation, Texas Instruments Incorporated, STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Incorporated, Rohm Semiconductor, Vishay Intertechnology, Maxim Integrated, Littelfuse Inc., Diodes Incorporated, Silicon Laboratories, Allegro MicroSystems, Semtech, Power Integrations, IXYS Corporation, Dialog Semiconductor
Contents Of The Global Gate Driver Integrated Circuit (IC) Market
1. Executive Summary
2. Gate Driver Integrated Circuit (IC) Market Report Structure
3. Gate Driver Integrated Circuit (IC) Market Trends And Strategies
4. Gate Driver Integrated Circuit (IC) Market - Macro Economic Scenario
5. Gate Driver Integrated Circuit (IC) Market Size And Growth
…..
27. Gate Driver Integrated Circuit (IC) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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