Precision Measurement ICs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Precision Measurement ICs: Introduction

• Precision measurement ICs are integrated circuits that are specifically used for making precise and accurate measurements for across-the-board precision analog applications for industrial, IoT, healthcare, and other sensing applications
• Precision measurement ICs reduce design and wiring complexity, and increase battery life for sensors and other devices

Growth of Industrial IoT or Industry 4.0 driving the Precision Measurement ICs Market

• Industry 4.0 is a family of inter-connected technologies that enables industry to collect, analyze, and decide upon massive amounts of diverse and distributed data, which calls for precise tests and measurements. Thus with greater adoption of Industrial IoT, the market for  precision measurement ICs is expected to witness rapid growth during the forecast period
• The growth of healthcare IoT systems in the wake of the COVID-19 pandemic is also expected to drive the growth of the precision measurement ICs market
• The rising sense of quality control, and enhanced health and safety measures being implemented at manufacturing units is another  factor that is expected to propel the market growth of precision measurement ICs

The APAC market set to witness significant growth during the forecast period

• In terms of region, the precision measurement ICs market can be divided into North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America.
• North America is expected to lead the market share during the forecast period due to the presence of a huge number of manufacturing facilities that are implementing industrial automation. The APAC market for precision measurement ICs on the other hand, is expected to witness maximum growth during the forecast period backed by growing manufacturing prowess in China, Japan, South Korea, and India.

Key Players Operating in the Precision Measurement ICs Market

The precision measurement ICs market is highly fragmented with steep competition amongst the key players. Market players are focused on innovation and continuous research and development as key strategic initiatives. Some of the major players covered in the report are:

• Maxim Integrated
• Texas Instruments
• Analog Devices
• NXP Semiconductors
• ON Semiconductor

Global Precision Measurement ICs Market: Research Scope

• Global Precision Measurement ICs Market, by Type
  • Current Sense Amplifiers
  • Digital to Analog Converters
  • Analog to Digital Converters
  • Programmable Gain Amplifier
  • Others
• Global Precision Measurement ICs Market, by Application
  • Data Acquisition
  • Industrial Process Control
  • Medical Instrumentation
  • Power-management Systems
  • Others
• Global Precision Measurement ICs Market, by End-use Industry
  • Healthcare
  • Manufacturing
  • Telecom
  • Automotive
  • Others
• Global Precision Measurement ICs Market, by Region
  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France 
    • Italy    
    • Spain
  • Asia Pacific
    • China 
    • India
    • Japan
    • Australia
    • New Zealand
    • South Korea
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
  • South America
    • Mexico
    • Brazil
    • Argentina

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.