In this report, FMI has segmented the global motor control IC market by type, by industry and by region. By type, the motor control IC market is sub-segmented into brushed DC motor, brushless DC motor and stepper motor. The brushed DC motor sub-segment of the global motor control IC market is projected to register 52 percent market share at the end of 2018. In addition, in terms of volume, the brushless DC motor sub-segment is also expected to register a CAGR of 6 percent in motor control IC market during the forecast period and it is expected to create an incremental opportunity of $617 million between 2018 and 2027.
By industry, the global motor control IC market is segmented into automotive, building control, industrial automation, consumer electronics, healthcare and others. In terms of value, the motor control IC market in industrial automation industry is projected to grow at a CAGR of 6 percent during the forecast period.
The report also covers the trends driving all the segments and offers analysis about the growth potential of the market in various regions, which include Latin America, North America, Europe, Japan, APEJ and MEA. The revenue contribution of Europe is estimated to increase at a CAGR of 6.2 percent over the forecast period.
According to FMI analysis, strategies such as product innovations, improvements in quality and others are expected to increase revenue, which is likely to enable the vendors of motor control IC to reach new growth markets.
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