Global Energy Measurement ICs Market growing at a CAGR of 7.1% from 2023 to 2031
Category : Semiconductor And Electronics | Published Date : Dec 2023
Key Market Overview
The Global Energy Measurement ICs Market was valued at USD 5,079.61 Million in 2022, projected to grow by USD 5,324.75 Million in 2023, and is expected to register a compound annual growth rate of 7.1% to reach USD 9,250.18 Million in 2031.
The report highlights the increasing adoption of energy measurement ICs in residential, commercial, and industrial sectors. Consegic Business Intelligence provides an inclusive research report on the Energy Measurement ICs market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Energy Measurement ICs Market By Overview
The report analyses significant segments such as type, sales channel, application, end-user, and region, to identify emerging trends and potential opportunities. The type segment is expected to grow due to the increasing adoption of polyphase energy measurement ICs for measurements of energy consumption in commercial and industrial sectors among others. Moreover, the rising integration of single phase energy measurement ICs in energy meters installed in residential buildings is expected to drive the market growth during the forecast period.
Get Free SampleMarket Dynamics
Driver:
- Rising adoption of smart meters is driving the market growth.
- Growing residential construction is spurring the market growth.
Restraints:
- Prevalence of stringent standards associated with energy measurement ICs is restraining the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Single Phase and Polyphase |
| By Sales Channel | Direct Sales and Distributor Sales |
| By Application | Smart Plugs, Smart Appliances, Smart Meters, EV Charging, and Others |
| By End-User | Residential, Commercial, and Industrial |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global energy measurement ICs market is highly competitive due to the presence of major players such as Analog Devices Inc., STMicroelectronics, Microchip Technology Inc., Cirrus Logic Inc., NXP Semiconductors, and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in energy measurement ICs market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Analog Devices Inc.
- STMicroelectronics
- Microchip Technology Inc.
- Cirrus Logic Inc.
- NXP Semiconductors
- Infineon Technologies AG
- Texas Instruments Incorporated
- Arch Meter Corporation
- Silicon Laboratories
- Renesas Electronic Corporation