Energy Measurement ICs Industry - Future Estimations and Key Segments till 2023

Market synopsis

Energy measurement ICs can give accurate measurement of energy consumed. This data can be used to in effective energy management. The active replacement of traditional utility meters with advanced energy measurement technology is expected to impel the global market. Market Research Future (MRFR), in its latest “Energy measurement ICs Market” report, discusses potential drivers and limitation of the market. An elaborate study on key players of the market is also mentioned in the report. The energy measurement ICs market 2020 expansion is attribute to the rising demand for electric meters that deliver highly accurate and reliable readings. The surge in commercial and industrial electricity consumption are expected to drive the market.

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The high rate of incorporation of energy measurement ICs in smart appliances and stringency in government regulations for energy utilization are anticipated to propel the expansion of the market. Developments and innovation in energy measurement technology have resulted in smart meters. They record the electric energy consumption and transfer the information to the supplier, where monitoring and billing of energy usage for every consumers are done. The high accuracy of measurement of electric power consumption and seamless communication of the same to suppliers are factors that can expedite the market growth.

Segmental Outline

The energy measurement ICs market’s segmental study is based on type, functions, and application. The function-based segments of the market are apparent energy (kVA), active energy (kWh), RMS energy, and reactive energy (kVAR). The type-based segments of the market are multi-channel and single-channel.

The application-based segments of the market are industrial, smart-plugs, smart appliances, smart homes, power monitors for servers, and smart cities. The industrial segment is likely to hold command over the global energy measurement ICs market. Smart homes and smart plug segments are expected to exhibit high growth rate. The rise in the deployment of energy measurement ICs solutions as an initiative to develop smart homes and smart plugs is expected to impel the Energy Measurement ICs Industry growth.

Regional Analysis

The energy measurement ICs market in North America is predicted to grow significantly during the forecast period. Alongwith North America, the energy measurement ICs market is studied across APAC, Europe, and the Rest of the World (RoW). The presence of major key players, such as Microchip Technology and Analog Devices Inc., in the region is expected to encourage the expansion of the energy measurement ICs market. MRFR findings state that the North America energy measurement ICs market is likely to thrive at a high CAGR in the study period owing to rise in the demand for active power in the US, Canada, and Mexico. In Europe, the energy measurement ICs market is likely to exhibit a high CAGR through the study period owing to the growing demand for smart meters for meet hike in electricity measurement activities, as electricity power consumption is observed to surge. In APAC, highly populated economies, such as China and India, the need for improved energy measurement regulations is high. It is expected to generate substantial revenue for the Asia Pacific energy measurement ICs market in the assessment period.

Key players

MRFR profiled some prominent players of the energy measurement ICs market. They are; NXP Semiconductors (Netherlands), Analog Devices Inc.(US), Cirrus Logic (US), Atmel Corporation (US), STMicroelectronics (Switzerland), Maxim Integrated (US), Microchip Technology (US), Integrated Device Technology, Inc. (US), and Linear Technology (US).

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