Energy Metering IC Chip Market: Introduction
- Energy metering IC is used in effectively measure active, reactive, and apparent energy in a power line system
- It offers a wide range of features such as ripple-free active energy pulsed output, live and neutral monitoring for tamper detection, easy and fast digital calibration, OTP for calibration and configuration, integrated linear VREGs for digital and analog supply, support 50 ÷ 60 Hz – IEC62052-11, IEC62053-2x specification, and less than 0.1 % error.
- These features make the energy metering IC chip highly significant for power delivery applications, smart metering & monitoring, etc., which in turn is expected to contribute to market growth.
Rise in Adoption from Consumer Electronics Industry
- Based on the end-use industry, the global energy metering IC chip market can be segmented into energy, consumer electronics, IT & telecommunication, aerospace & defense, automotive & transportation, healthcare, media & entertainment, BFSI, and others (building & infrastructure, manufacturing, etc.) The consumer electronics segment is expected to expand at a rapid pace during the forecast period due to the increasing use of energy metering IC chip to offer high accuracy when measuring DC and AC energy down to extremely low currents, typical of home appliances in standby mode.
- Energy metering IC chip is primarily used in smart home devices, power monitors for servers, wireless communication devices, etc. This is significantly driving the demand for energy metering IC chip in the consumer electronics and IT & telecommunication industries.
- Stringent government regulations for energy utilization and increasing usage of metering ICs in smart appliances due to the emergence of renewable energy sources is further propelling the market
Asia Pacific to Lead Global Energy Metering IC Chip Market
- In terms of region, the global energy metering IC chip market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Asia Pacific is expected to hold the largest share of the energy metering IC chip market during the forecast period due to increasing demand from consumer electronics, automotive, and manufacturing industries.
- Energy metering IC chips are widely utilized to monitor energy consumption, communicate with devices in the household, and gather all information required by the grid to efficiently allocate resources
- Rising industrialization & urbanization, the proliferation of the internet of things (IoT), running investment in factory automation, stringent industry standards such as ANSI (American National Standards Institute) and IEC (International Electro Technical Commission), and developments in embedded control and chip-based security to address requirements for a reliable, flexible and secure smart grid are other factors propelling the energy metering IC chips market in Asia Pacific
- The energy metering IC chip market in North America and Europe is expected to expand at a significant rate during the forecast period due to rising demand for energy metering IC chip from diverse industries such as automotive, BFSI and consumer electronics. Moreover, the growth is anticipated to be driven by leading countries such as, U.S., Canada, Germany, France, Spain, and Italy.
- The energy metering IC chip market in Middle East & Africa and South America is anticipated to grow at a steady pace during the forecast period due to conflict between Syria and Yemen, anti-coup rally in Sudan, low economic diversification, an imperative need to improve manufacturing systems and infrastructure, complex political and governance scenarios, and persistently high barriers to the economic and social wellbeing of important sections of society in these regions
Key Players Operating in Global Energy Metering IC Chip Market
Prominent players operating in the global energy metering IC chip market are engaged in developing technologically advanced products to cater to the rising demand for energy metering IC chips. Furthermore, several manufacturers are focusing on strategic mergers and acquisition of local manufacturers and system designers to strengthen their product offerings and expand their geographic reach. Leading players operating in the global energy metering IC chip market include:
- Analog Devices, Inc.
- STMicroelectronics
- Texas Instruments Incorporated
- Maxim Integrated
- Cirrus Logic, Inc.
- NXP Semiconductors N.V.
- ICDC (PTY) LYD / SAMES (PTY) LTD
- Infineon Technologies AG
- Renesas Electronics Corporation
Global Energy Metering IC Chip Market: Research Scope
Global Energy Metering IC Chip Market, by Type
- Single Channel
- Multi-Channel
Global Energy Metering IC Chip Market, by Energy Type
- Apparent Energy (KVA)
- Active Energy (KWH)
- RMS Energy
- Reactive Energy (KVAR)
Global Energy Metering IC Chip Market, by End-use Industry
- Energy
- Consumer Electronics
- IT & Telecommunication
- Aerospace & Defense
- Automotive & Transportation
- Healthcare
- Media & Entertainment
- BFSI
- Others (Building & Infrastructure, Manufacturing, etc.)
Global Energy Metering IC Chip Market, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- ASEAN
- Rest of Asia Pacific
- South America
- Brazil
- Mexico
- Rest of South America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
