Press Release

Energy Measurement ICs Market is expected to register a CAGR of 8.6% during the forecast period

Global Energy Measurement ICs Market is rising due to increasing demand for accurate energy measurement and management solutions in various industries, driven by growing awareness of energy efficiency and sustainability goals in the forecast period 2024-2028.

 

According to TechSci Research report, “Global Energy Measurement ICs Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, The global Energy Measurement Integrated Circuits (ICs) market is experiencing significant growth, driven by the increasing need for precise energy measurement and management across various sectors. Businesses and industries are adopting Energy Measurement ICs to monitor energy consumption, optimize usage, and comply with stringent energy efficiency regulations. The rising awareness of environmental sustainability and the need to reduce carbon emissions are major factors propelling the market forward. Additionally, the integration of advanced technologies such as IoT and smart meters is enhancing the demand for Energy Measurement ICs, enabling real-time monitoring and control of energy usage. The utility sector, in particular, is embracing these ICs to enhance grid management and ensure efficient energy distribution. Moreover, the growing trend towards renewable energy sources, coupled with the need for accurate measurement in renewable energy systems, is further fueling the market expansion. As businesses worldwide prioritize energy efficiency and environmental responsibility, the Energy Measurement ICs market is poised for continuous growth and innovation.

The Global Energy Measurement ICs Market has witnessed significant growth in recent years, driven by the increasing demand for accurate and efficient energy measurement solutions across various industries. Energy measurement ICs, also known as energy metering ICs, are semiconductor devices that enable the measurement and monitoring of energy consumption in various applications. These ICs play a crucial role in enabling energy management, billing, and conservation. One of the key factors driving the growth of the global energy measurement ICs market is the increasing focus on energy efficiency and sustainability. With the rising concerns over climate change and the need to reduce carbon emissions, governments and organizations worldwide are implementing stringent energy efficiency regulations and standards. Energy measurement ICs provide accurate and real-time energy consumption data, enabling businesses and consumers to monitor and optimize their energy usage. This, in turn, helps in reducing energy waste, lowering costs, and minimizing environmental impact.

Moreover, the growing adoption of smart grid technologies is also fueling the demand for energy measurement ICs. Smart grids are modernized electrical grids that incorporate advanced communication and measurement technologies to enable efficient energy distribution and management. Energy measurement ICs play a vital role in smart grid systems by providing accurate measurement and monitoring of energy consumption at various points in the grid. This data is crucial for utilities to optimize energy distribution, detect power theft, and implement demand response programs. Furthermore, the increasing deployment of renewable energy sources such as solar and wind power is driving the demand for energy measurement ICs. As the world shifts towards a cleaner and more sustainable energy mix, there is a need for accurate measurement and monitoring of renewable energy generation. Energy measurement ICs enable the measurement of energy generated from renewable sources, facilitating efficient integration into the grid and ensuring proper billing and incentives for renewable energy producers.

In addition to these factors, the rapid growth of the electric vehicle (EV) market is also contributing to the expansion of the energy measurement ICs market. As the adoption of electric vehicles increases, there is a need for accurate measurement and monitoring of energy consumption for charging purposes. Energy measurement ICs enable EV charging stations to accurately measure the energy consumed by each vehicle, facilitating billing and ensuring efficient utilization of charging infrastructure. Geographically, North America and Europe dominate the global energy measurement ICs market, owing to the presence of major semiconductor manufacturers and the early adoption of energy management technologies. However, the Asia Pacific region is expected to witness significant growth in the coming years, driven by the increasing industrialization, urbanization, and government initiatives to promote energy efficiency.

In conclusion, the Global Energy Measurement ICs Market is experiencing robust growth, driven by the increasing demand for accurate and efficient energy measurement solutions. The focus on energy efficiency, the adoption of smart grid technologies, the deployment of renewable energy sources, and the growth of the electric vehicle market are key factors contributing to the market expansion. With the continuous advancements in semiconductor technology and the increasing emphasis on energy management and sustainability, the market is expected to witness further growth in the foreseeable future.

 

Browse over 26 market data Figures spread through 91 Pages and an in-depth TOC on "Global Energy Measurement ICs Market”.

 


The Global Energy Measurement ICs Market is segmented into Function, Type, Application, regional distribution, and company. Based on Application, the Smart-Homes segment emerged as the dominant force in the Global Energy Measurement ICs Market and is poised to maintain its supremacy throughout the forecast period. The proliferation of smart home technologies, coupled with the increasing awareness of energy efficiency, drove the demand for Energy Measurement ICs within smart home applications. These ICs are instrumental in monitoring energy consumption in smart home devices, including lighting systems, HVAC (heating, ventilation, and air conditioning) units, home entertainment systems, and kitchen appliances. Consumers' growing interest in creating energy-efficient households, coupled with the integration of smart meters and IoT devices, further fueled the adoption of Energy Measurement ICs in smart homes. By providing real-time data on energy usage, these ICs enable homeowners to make informed decisions, optimize energy consumption, and reduce utility bills. The emphasis on creating sustainable living spaces, combined with the convenience of remotely monitoring and controlling home appliances, solidifies the Smart-Homes segment's dominance. As the trend towards smart home automation continues to thrive, the demand for Energy Measurement ICs within smart home applications is expected to grow, ensuring the sustained dominance of this segment in the Global Energy Measurement ICs Market.

Based on region, the Asia-Pacific region emerged as the dominant force in the Global Energy Measurement ICs Market and is poised to maintain its supremacy during the forecast period. The rapid industrialization, urbanization, and technological advancements in countries like China, Japan, South Korea, and India have significantly driven the demand for precise energy measurement and management solutions. These nations are experiencing a surge in energy consumption across various sectors, including manufacturing, automotive, and telecommunications, necessitating advanced energy measurement ICs to optimize usage and enhance efficiency. Additionally, the growing emphasis on renewable energy initiatives in countries like China has spurred the adoption of Energy Measurement ICs in solar and wind energy systems. Moreover, supportive government policies and initiatives aimed at improving energy efficiency, reducing carbon emissions, and ensuring a reliable energy supply have further bolstered the market in the Asia-Pacific region. The presence of key market players, coupled with the region's robust manufacturing capabilities and research and development activities, has contributed to its dominance. As the region continues to invest in smart grid technologies, industrial automation, and sustainable energy solutions, it is expected to maintain its leading position in the Global Energy Measurement ICs Market, driving innovation and shaping the future of energy measurement technologies.

 

Major companies operating in Global Energy Measurement ICs Market are:

  • Texas Instruments Incorporated
  • Analog Devices, Inc.
  • Maxim Integrated Products, Inc.
  • STMicroelectronics N.V.
  • Microchip Technology Inc.
  • Renesas Electronics Corporation
  • Silicon Laboratories Inc.
  • Cirrus Logic, Inc.
  • NXP Semiconductors N.V.
  • ON Semiconductor Corporation

 

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“The Global Energy Measurement ICs Market has witnessed significant growth due to the increasing demand for accurate and efficient energy measurement solutions across industries. Energy measurement ICs, also known as energy metering ICs, enable the measurement and monitoring of energy consumption in various applications. This market growth is driven by the focus on energy efficiency and sustainability, with governments and organizations implementing stringent regulations. Energy measurement ICs provide real-time consumption data, helping businesses and consumers optimize energy usage and reduce waste. The adoption of smart grid technologies and the deployment of renewable energy sources further fuel the demand for energy measurement ICs. These ICs play a vital role in smart grid systems, enabling accurate measurement and monitoring of energy consumption. Additionally, the rapid growth of the electric vehicle market contributes to the expansion of the energy measurement ICs market, as accurate measurement is crucial for charging purposes. North America and Europe dominate the market, but the Asia Pacific region is expected to witness significant growth. Overall, the market is expected to continue growing with advancements in semiconductor technology and the increasing emphasis on energy management and sustainability.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Energy Measurement ICs Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Function (Active Energy, Apparent Energy, Reactive Energy), By Type (Single-Channel, Multi-Channel), By Application (Smart-Plugs, Industrial, Smart Appliances, Smart-Homes), By Region, By Competition”, has evaluated the future growth potential of Global Energy Measurement ICs Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Energy Measurement ICs Market.

 

 

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Energy Measurement ICs Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Function (Active Energy, Apparent Energy, Reactive Energy), By Type (Single-Channel, Multi-Channel), By Application (Smart-Plugs, Industrial, Smart Appliances, Smart-Homes), By Region, By Competition 2018-2028

ICT | Nov, 2023

Global Energy Measurement ICs Market is rising due to increasing demand for accurate energy measurement and management solutions in various industries, driven by growing awareness of energy efficiency and sustainability goals in the forecast period 2024-2028.

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