Global Active Energy Measurement Integrated Circuits (ICs) Market, By Type (Single-Channel and Multi-Channel), Application (Smart-Plugs, Industrial, Smart Appliances, Smart-Homes, Smart Cities, and Power Monitor for Servers) – Industry Trends and Forecast to 2031.
Active Energy Measurement Integrated Circuits (ICs) Market Analysis and Size
The active energy measurement integrated circuits (ICs) market is advancing with precision in energy monitoring for smart meters and IoT devices. The latest methods integrate high accuracy and low power consumption, which are crucial for energy efficiency. Technologies such as digital signal processing enhance measurement capabilities. Market growth is driven by rising demand for energy-efficient solutions in residential, commercial, and industrial sectors, emphasizing sustainability.
The global active energy measurement integrated circuits (ICs) market size was valued at USD 58.88 billion in 2023 and is projected to reach USD 118.19 billion by 2031, with a CAGR of 9.10% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Single-Channel and Multi-Channel), Application (Smart-Plugs, Industrial, Smart Appliances, Smart-Homes, Smart Cities, and Power Monitor for Servers)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Analog Devices, Inc. (U.S.), NXP Semiconductors (Netherlands), Microchip Technology Inc. (U.S.), Cirrus Logic, Inc. (U.S.), STMicroelectronics (Switzerland), Texas Instruments Incorporated (U.S.), Silergy Corp. (China), Infineon Technologies AG (Germany), Rockwell Automation (U.S.), TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan), Wasion Group (China), ABB (Switzerland), and Eaton (Ireland )
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Market Opportunities
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Market Definition
Active energy measurement integrated circuits (ICs) are semiconductor devices designed to accurately measure electrical energy consumption in real time. They typically include features such as voltage and current sensing, analog-to-digital conversion, and digital signal processing capabilities. These ICs are crucial in applications such as smart meters, energy monitoring systems, and power management devices, enabling efficient energy usage and billing accuracy.
Active Energy Measurement Integrated Circuits (ICs) Market Dynamics
Drivers
- Increasing Demand for Energy Efficiency
The increasing focus on sustainability and energy conservation is driving demand for ICs that precisely measure and manage energy consumption across applications. For instance, in smart homes, these ICs enable real-time monitoring and optimization of energy usage, supporting eco-friendly practices. Such technologies not only promote efficient resource utilization but also align with global efforts to reduce carbon footprints, thereby propelling the market for active energy measurement integrated circuits.
- Increasing Demand for Data Accuracy and Analytics
The increasing demand for data accuracy and analytics is a pivotal driver in the active energy measurement ICs market. Businesses and utilities rely on precise data from these ICs to make informed decisions, conduct thorough energy audits, and implement effective cost-management strategies. For instance, utility companies use real-time energy consumption data to optimize grid operations, predict demand patterns, and enhance overall system efficiency, thereby driving the adoption of advanced energy measurement IC technologies.
Opportunities
- Growing IoT and Smart Home Technologies
The rapid expansion of IoT devices and smart home technologies has heightened the demand for accurate energy measurement ICs, which are essential for optimizing energy consumption at the device level. For instance, smart meters integrated with these ICs enable real-time monitoring and management of electricity usage in homes. This capability not only enhances energy efficiency but also supports intelligent energy management systems, driving the market for advanced energy measurement ICs in residential and commercial applications.
- Rise in Renewable Energy Integration
The increasing prevalence of renewable energy sources such as solar and wind creates opportunities in the active energy measurement IC market. ICs are crucial for monitoring the generation, storage, and integration of renewable energy into existing power grids. For instance, advanced ICs enable real-time monitoring of solar panel efficiency and battery storage levels, facilitating optimal utilization and grid integration, thereby supporting the expanding renewable energy infrastructure.
Restraints/Challenges
- Complexity and Integration Issues
The complexity of integrating multiple functions such as ADCs and DSPs into energy measurement ICs poses significant challenges in design, testing, and reliability. These complexities hinder market growth by increasing development costs, extending time-to-market, and raising concerns about performance consistency and longevity. As demands for accuracy and efficiency rise, the industry faces ongoing hurdles in overcoming these technical complexities to meet stringent market expectations.
- Data Security and Privacy Concerns
Data security and privacy concerns pose significant challenges for the active energy measurement IC market. As ICs connect to networks for data analytics, safeguarding against cyber threats and unauthorized access becomes crucial. Ensuring protection from potential breaches and maintaining privacy standards remains a barrier to market growth.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In 2023, Samsung launched the A-40% washing machine, featuring AI Wash technology for enhanced laundry sensing, optimizing washing effectiveness and reducing resource usage
- In 2022, the U.S. Energy Information Administration reported that electric utilities nationwide had deployed about 119 million smart metering infrastructures, accounting for approximately 72% of all electric meter installations
- In 2022, various government initiatives in India installed around 3.9 million smart power meters to bolster energy management and efficiency
Active Energy Measurement Integrated Circuits (ICs) Market Scope
The market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Single-Channel
- Multi-Channel
Application
- Smart-Plugs
- Industrial
- Smart Appliances
- Smart-Homes
- Smart Cities
- Power Monitor for Servers
Active Energy Measurement Integrated Circuits (ICs) Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by type and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the active energy measurement integrated circuits (ICs) market. This dominance stems from the robust adoption of smart technologies in the industrial sector and the increasing use of advanced technologies to enhance productivity across various industries.
Europe is expected to show growth in the active energy measurement integrated circuits (ICs) market, driven by stringent environmental policies. These policies promote the adoption of energy measurement ICs in smart homes and industrial sectors, fostering technological advancements and market expansion in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Active Energy Measurement Integrated Circuits (ICs) Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Analog Devices, Inc. (U.S.)
- NXP Semiconductors (Netherlands)
- Microchip Technology Inc. (U.S.)
- Cirrus Logic, Inc. (U.S.)
- STMicroelectronics (Switzerland)
- Texas Instruments Incorporated (U.S.)
- Silergy Corp. (China)
- Infineon Technologies AG (Germany)
- Rockwell Automation, Inc. (U.S.)
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan)
- Wasion Group (China)
- ABB (Switzerland)
- Eaton (Ireland )
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