Motor Driver IC Market Size

Motor Driver IC Market Size

Motor Driver IC Market size valued at USD 1 billion in 2020 and is estimated to grow at over 5.5% CAGR between 2021 and 2027. The unit shipments are projected to reach 500 million units by 2027.

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The motor driver IC market growth is attributed to its rising adoption in automated home appliances such as washing machines, air conditioners, and air humidifiers, among others. The proliferation of advanced technologies, such as AI and IoT in automated home appliances, is supporting the market demand for motor driver IC. Several market players are engaged in developing new motor drivers to reduce noise in home appliances.

The motor driver IC (integrated circuit) is an electrical component that harnesses and controls the electrical power sent into the motor. This IC helps to provide sufficient electrical power to the motors as per the requirement. It has a wide range of applications in industrial, automotive, medical, and consumer electronics sectors for power management and controlling of rotary motors.
 

The COVID-19 pandemic had a significant impact on the motor driver IC market, resulting in the closure of several manufacturing facilities, supply chain disruptions, and international trade barriers. Owing to the increasing scarcity of semiconductors in early 2020, several automakers have reduced their production capacity, limiting market opportunities for motor driver IC.
 

However, by the middle of 2021, manufacturers were encouraged to restructure their production facilities and increase their investments in motor drive control technology in order to gain a significant competitive advantage in the market.