Market Overview:
Market Research Future (MRFR) expects the energy measurement ICs market 2020 to gain significant impetus between 2018 and 2023, which is the appraisal period. We will provide COVID-19 impact analysis with the report, along with all the key developments since the coronavirus disease outbreak.
Top Energy Measurement ICs Market Firms Covered in MRFR Study Include:
Atmel Corporation (US), Microchip Technology (US), Linear Technology (US), Maxim Integrated (US), Integrated Device Technology Inc. (US), NXP Semiconductors (Netherlands), Analog Devices Inc.(US), Cirrus Logic (US), STMicroelectronics (Switzerland), to mention a few
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Key Boosters and Top Challenges:
Energy measurement ICs are commonly deployed in energy meters, helping them calculate the amount of energy consumed. This way, the energy meters are able to display real-time and accurate readings. Some of the notable contenders in the global market are Microchip Technology, Atmel Corporation, Analog Devices and more. In recent years, the energy measurement integrated circuits industry has been experienced significant expansion due to the evolving consumer behavior and the urgent need to measure the amount of power being consumed for enhanced energy management. This has resulted in a sharp rise in the demand for energy measurement ICs in diverse applications in the commercial sector.
The market for energy metering ICs is largely boosted by the surging uptake of smart appliances, rising number of government policies pertaining to energy use, and the frequent innovations in the energy measurement technology. Due to this, the smart meters concept has gained massive momentum over the years, which can be described as electric meters that track the consumption rate of the electric energy and then send that data to the supplier to monitor and bill the customer.
The escalating consumption of smart appliances has proved to be a prominent growth booster for the market. Apart from the rising trend of energy measurement for measuring and monitoring the energy use, the main objective is to track the reactive energy use, monitor the power quality as well as multi-tariff billing, which leads to boosted power generation, distribution and transmission of electric power. This also helps safeguard electricity from thefts, while boosting the customer billing as well as services. These benefits culminate into a high demand for energy measurement ICS worldwide.
Market Segmentation:
The worldwide market for energy measurement ICs can be considered for functions, type as well as application.
The function-wise market segments include apparent energy (kVA), active energy (kWh), RMS energy and reactive energy (kVAR).
The types of energy measurement ICs studied in the report include single-channel along with multi-channel.
The key applications considered in the market study are industrial, smart plugs, smart appliances, smart homes and power monitors for servers. The lead has been taken by the industrial vertical segment, since the sector is known for carrying a high amount of energy measurement work. Smart plug as well as smart homes can exhibit remarkable growth in the energy measurement ICs market as a result of the surging demand along with the innovations in technology with respect to smart plugs and smart homes.
Regional Insight:
A region-based study of the energy measurement ICs market comprises Europe, North America, APAC/Asia Pacific, RoW/Rest-of-the-World.
At present, the world leader in the energy measurement ICs market is North America, with the generation of the highest revenue. The robust use of smart technologies in the industrial sector and the high willingness to use the latest technologies for better productivity across industries can be a major growth booster. Also, the high concentration of world renowned companies in the region also solidifies the market position.
Europe’s considerable share in the global market can be the result of the stringent policies with regard to the environment that boosts the use of energy measurement ICS in smart homes, industrial sectors and more. The increasing spending in energy measurement field is also working in favor of the regional industry. For instance, in July 2020, E-peas, a well-known energy measurement IC startup managed to gather €8 million to help it introduce its ambient energy processing, sensing and harvesting products and also set up a higher number of offices across the globe.
Another strong contender in the global market can be APAC, given the rising use of energy measurement ICs across a variety of industries ion India, Japan and China. The quickly expanding construction industry in the region has bolstered the growth of smart homes and a boost in the number of people adopting smart appliances, which can be a significant growth enhancer for the energy measurement ICS market in the region.
Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Energy Measurement ICs Market
Continued………
List of Table:
Table 1 Global Energy Measurement ICs Market, By Region, 2018–2023
Table 2 North America: Energy Measurement ICs Market, By Country, 2018–2023
Table 3 Europe: Energy Measurement ICs Market, By Country, 2018–2023
Table 4 Asia-Pacific: Energy Measurement ICs Market, By Country, 2018–2023
Table 5 Rest of the World: Energy Measurement ICs Market, By Country, 2018–2023
Continued………..
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