Analysis on the Recovery of BCD Power IC Market from COVID-19 | Increasing Adoption of Smart Homes and Smart Grid Technologies to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Sep 24, 2020--
The BCD power IC market is expected to grow by USD 8.22 billion during 2020-2024, expanding at a CAGR of almost 5%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled Global BCD Power IC Market 2020-2024 (Graphic: Business Wire)
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BCD Power IC Market: Growth in smart home and smart grid technology drive market
Advances in technology have improved the functionalities of electronic systems such as home appliances and other electronic systems. For example, in-home security infrastructure such as automated door locks are designed to interact with users through the internet. The adoption of such technologies has increased the number of smart homes worldwide. In addition, the growing need for delivering secure and sustainable electricity to consumers has increased the adoption of smart grid technologies. Smart grids use automation technologies to analyze user’s actions and provide electricity in the most efficient way and thus avoid wastage. The growing adoption of these technologies is expected to increase the demand for BCD power management ICs during the forecast period.
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As per Technavio, the proliferation of smartphones and tablets will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
BCD Power IC Market: Proliferation of Smartphones and Tablets
Globally, the sales of smartphones and tablets have increased significantly over the years. This is due to the availability of low-cost models and the rapid penetration of the internet. In addition, smartphone manufacturers are increasingly adopting HMI technologies such as AI, voice recognition, gesture recognition, and other features to enhance the user experience. These developments are leading to the adoption of advanced semiconductor manufacturing technologies such as FinFET and 3D integration. BCD power ICs play a crucial role in enhancing the battery performance of smartphones. Therefore, the proliferation of smartphones and tablets is expected to fuel the growth of the global BCD power IC market during the forecast period.
“Rising demand for energy-efficient devices and the increasing adoption of smart wearables will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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BCD Power IC Market: Segmentation Analysis
This market research report segments the BCD power IC market by End-user (ICT, Consumer electronics, Automotive, Manufacturing, and Others) and Geography (APAC, Europe, North America, South America, and MEA).
ICT was the major end-user segment of the BCD power IC market in 2019. The deployment of next-generation network technologies such as LTE has created a need for effective power management solutions. Also, the growing adoption of Industry 4.0 has increased the adoption of emerging technologies such as IoT and cloud computing in the manufacturing sector. These factors are contributing to the growth of the ICT segment in the BCD power IC market.
The APAC region led the BCD power IC market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the high concentration of electronic device manufacturers in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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PUB: 09/24/2020 11:15 AM/DISC: 09/24/2020 11:15 AM