WILMINGTON, DE / ACCESSWIRE / December 1, 2022 / Transparency Market Research Inc. - According to sensor signal conditioner ICs industry analysis by TMR, cost-effectiveness and rising industrial automation are key factors that determine expansion of the said market. The sensor signal conditioner ICs market is anticipated to be worth USD$1.5 Bn by 2031. During the forecast period of 2021-2031, the sensor signal conditioner ICs market is projected to expand at a CAGR of 6.2%. Increasing demand from the healthcare and electronics industries drives the global market. Technological breakthroughs and continued research enable manufacturers to create more sustainable products to fulfill the increased demand in a variety of industries.
The demand for sensor signal conditioner ICs integrated circuits is fueled by the prevalence of industrial automation. Across a variety of process industries, industrial automation saves operational expenses, improves product quality, boosts productivity, and addresses industrial health and safety.
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Sensor Signal Conditioner ICs Market: Growth Drivers
The emerging trend of automation and data trend in industrial technologies such as the Internet of Things (IoT), and cloud computing has resulted in an ecosystem comprised of several smart devices that are interconnected. These advancements are expected to bring exponential growth opportunities for the sensor signal conditioner ICs market across the globe.
The expanding trend of digital communication has led to a focus on achieving high-performance efficiencies in order to optimize and eliminate failures. This, in turn, is anticipated to increase demand for sensor signal conditioner ICs during the next several years.
In the near future, the proliferation of ASICs and SiPs is anticipated to be propelled by the rising deployment of intelligent sensors in many industries. As a result of their low cost and small size, industries have turned towards using sensor signal conditioner ICs which has proved to be a growth booster for the growth of the sensor signal conditioner ICs market.
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Key Findings of Sensor Signal Conditioner ICs Market Study
Escalating adoption of sensors in automotive and medical industries is extrapolated to significantly raise the need for pressure sensors. The miniaturization of electronic instruments, coupled with technological advancements has led to a reduction in the size and price of pressure sensors, which is anticipated to create new opportunities for the sensor signal conditioner ICs market.
In particular, ICs are used in the consumer electronics industry for user-friendly interfaces and indoor navigation, and in the healthcare industry for medical diagnostics. It is prognosticated that the need for motor drive controllers would increase in the next years as a result of emerging technologies and their utility in electronic and electrical systems. In addition, the demand for motor drive controllers is influenced by process automation, robotics, elevator control, assembly/packaging, and flight control systems for digitalized output. These reasons are expected to boost the worldwide sensor signal conditioner ICs market.
Digitalization, expansion, and innovation in consumer electronics, and rising sensor signal conditioner ICs demand in the automotive industry are boosting the global market. Due to the increasing demand from the electronics sector, sensor signal conditioner ICs manufacturers are increasing manufacturing capacities. Further, the increasing demand for automobile-related semiconductors drives market expansion.
Sensor Signal Conditioner ICs: Regional Analysis
Asia-Pacific is anticipated to be the leading region in the global market. Sensor signal conditioner ICs industry share in the region is propelled by the presence of a robust semiconductor industry. Due to the presence of leading market players, technical advancements the region has shown significant growth. Besides this, the rise of the consumer electronics and automotive industries in North America is expected to present lucrative opportunities. This underpins sensor signal conditioner ICs market US growth during the forecast period.
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Sensor Signal Conditioner ICs: Key Players
Some of the sensor signal conditioner ICs manufacturers operating across the globe are
Allegro Microsystems, Inc.
Analog Devices, Inc.
Micro Analog Systems Oy
Melexis Suzhou NOVOSENSE Microelectronics Co., Ltd.
Renesas Electronics Corporation
Suzhou NOVOSENSE Microelectronics Co., Ltd.
Texas Instruments Incorporated.
Sensor Signal Conditioner ICs: Segmentation
Motor Drive Controllers
By End-use Industry
Middle East & Africa
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