The gate driver IC (integrated circuit) market size has experienced strong growth in recent years, projected to rise from $1.42 billion in 2023 to $1.51 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth observed in the historical period is primarily attributed to increasing power efficiency requirements, the rise of industrial automation, the expansion of renewable energy sources, the growth of electric vehicles, and the rapid electrification of automobiles. Looking ahead, the gate driver IC market is expected to grow to $1.91 billion in 2028, with a CAGR of 6.1%. Factors contributing to this growth in the forecast period include the development of smart grids, expansion of the Internet of Things (IoT), growth in energy storage systems, advancements in healthcare technology, and increased applications in aerospace and defense. Major trends during this period include the integration of renewable energy, advancements in power electronics, miniaturization for efficiency, and a proliferation of consumer electronics driven by technological advancements.
Major Driver In The Gate Driver Integrated Circuit IC Market
The rising adoption of electric vehicles (EVs) is expected to significantly propel the growth of the gate driver integrated circuit (IC) market. This increase in EV adoption is driven by advancements in battery technology, supportive government policies, heightened environmental awareness, and the expansion of charging infrastructure. Gate driver integrated circuits (ICs) are crucial for controlling power transistors in a vehicle's power electronics, enabling efficient management of electric motor operations and battery systems. According to the International Energy Agency, as of April 2024, 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 rising adoption of electric vehicles is set to significantly drive the growth of the gate driver integrated circuit (IC) market.
Request A Free Sample Of The Gate Driver Integrated Circuit IC Market Report
Gate Driver Integrated Circuit IC Market Competitive Landscape
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
Key Gate Driver Integrated Circuit IC Market Trend
Major companies in the gate driver integrated circuit (IC) market are focusing on developing innovative products, such as gate driver integrated circuits with embedded microcontrollers, to provide sensorless control of three-phase brushless DC motors. These gate driver ICs combine gate-driving functions with a microcontroller unit, offering 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 firm, launched the SmartMCD Series of gate driver ICs featuring an embedded microcontroller, aimed at improving 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, including water and oil pumps, fans, and blowers.
Purchase The Global Gate Driver Integrated Circuit IC Market Report Directly And Get A Swift Delivery
Global Gate Driver Integrated Circuit IC Market Segmentation
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
By Geography:The regions covered in the gate driver integrated circuit (IC) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the gate driver integrated circuit (IC) market in 2023.
The Gate Driver Integrated Circuit IC Global Market Report 2024 furnishes information about the global gate driver integrated circuit ic market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
