Surge Suppression IC Market Forecast and CAGR
According to the latest study by Fact.MR, surge suppression IC market is expected to grow significantly over the projected forecast period (2021-2031). Increased focus for the security of power supply and expanding interest for utility clients have provided a positive outlook to the suppression IC market. Moreover, constant demand for suppression IC from electrical & electronics has propelled the demand and sales of suppression IC and is projected to grow at a CAGR of around 5.8% over the projected forecast period
What is Driving Demand for Surge Suppression IC?
Developing utilization of electrical hardware and expanding interest for utility clients for security of the power supply coupled with focus on the significance of improving the dependability and power quality degrees of surge suppression ICs is driving the dynamic business.
Additionally, protection against power surges can save costly electronic things and gear from being harmed. This has intensified the interest in suppression ICs all around the world. Expansion in the interest for high innovative electrical gear, with ascend in expendable livelihoods, is the excellent factor propelling the suppression IC market.
Moreover, with expanding utilization of electronic gear in assembling offices, enterprises, and the private area, the requirement for power-quality security hardware is getting fundamental. Thus above-discussed factors have been bolstering the demand and sales of suppression IC and are projected to drive the sales by the end of the forecast period.
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Rising Demand for Hi-Tech Appliances Will Propel the Surge Suppression IC Market
Ascent in populace and expanding financial advancements in the agricultural countries, the interest for hi-tech electronic appliances is on rising. With developing industrialization and expansion in discretionary cash flow, the way of life has improved. Consequently, the utilization and spending on electronic things have dramatically grown over the years.
Additionally, appropriation of high-end electronic hardware like LCD, LED, workstations, clothes washers, and TVs in the emerging nations are the main considerations behind the rise in demand and sales of suppression IC.
Moreover, interest in profoundly hi-tech and modern appliances, for example, LED TVs, PCs, printers, and modern control gear like PLCs, microwaves, clothes washers, and cautions, is rising quickly thus driving the suppression IC market at a significant rate. Thus above-discussed factors have contributed substantially to rising demand for suppression IC, bolstering the market at higher single-digit CAGR.
Asia Pacific Surge Suppression IC Market Outlook
Asia Pacific market is expected to set out more potential development open doors for the suppression IC industry in the coming years inferable from the development in the auto and hardware ventures.
Additionally, the region is expected to grow at a quick speed during the conjecture time frame. This can be mainly attributed to the presence of a few foundries, rethought semiconductor gathering, and test sellers in the locale.
Moreover, rising infrastructural development for electric vehicles and expansion over interests in research and advancement by governments and makers to satisfy the serious need for imaginative items are also projected to drive the suppression ICs market in the Asia Pacific.
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North America Surge Suppression IC Market Outlook
North America is projected to be a lucrative market for suppression IC. This is mainly attributed to the rising governmental infrastructural expenditure in the region coupled with the well-established electrical & electronics industry.
For instance, the recent bipartisanship infrastructure framework by the US Congress has set out an ambitious plan of ~USD1.2 Tn investments in areas such as renewable energy, electrification of schools, building high-speed internet infrastructure, and up-gradation of current power infrastructure.
Moreover, North America is home to some of the prominent players in the industry, also high spending in research and innovation has provided an uptick growth to the demand for high quality suppression IC in the region. Thus above discussed factors along with sizeable increase in infrastructural spending is projected to drive the suppression IC sales over the forecast period.
COVID-19 Impact on Surge Suppression IC Market
Short Term Impact: Prolonged lockdowns severely impacted the electrical & electronics segment with substantial dip in demand and sales. Also, the disruption in supply chain impacted the procurement of raw materials for the production of suppression IC.
Medium Term Impact: The sales of suppression IC globally normalized as demand were back on track, with ease in restrictions and rising infrastructural developments, sales is expected to get better by the end of 2021.
Long Term Impact: Suppression IC demand and sales will be substantially high by 2031 mainly attributed to rising trends of EV’s and high spending on renewable energy sector.
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Who are the Key Manufacturers and Suppliers of Surge Suppression IC?
Some of the key prominent players in the industry includes
- Analog Devices Inc.
- Bourns Inc.
- Diodes Incorporated
- Maxim Integrated
- NXP USA Inc.
- ON Semiconductor
- Rochester Electronics LLC
- Texas Instruments
- Kinetic Technologies
- Mornsun Power.
Aforementioned players have mainly relied on inorganic growth strategies such as mergers and acquisitions to expand their businesses and increase consumer base.
Flood Protection Sandbags Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
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By Packaging Type
- Cut Tape
- Digi Reel
- Tape and Reel
By Operating Voltage
- 0 - 100V
- 100V - 500V
- 500V - 850V
- External Switch
- Internal Switch
By Use Case
- General Purpose
- Portable equipment
- USB-TYPE C
By Response Time
- 100 ns
- 250 ns
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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