”, the market is driven by stringent regulations related to the safety of the workers in the industrial sector.
Europe held the largest market share in the Voltage Detector Market
Europe region holds the largest market share in the Voltage Detector Market and is anticipated to reach $679.7 million by 2023 at a CAGR of 5.65%. However, APAC witnesses highest growth during the forecast period and is expected to reach $639.7 million by 2023 at a CAGR of 6.3%. European Voltage Detector Market is mainly driven by the higher adoption of infotainment systems in automotive industry.
Selected Value Chain Analysis done in the full report:
The process is similar to any CMOS device fabrication where players can belong to either of these categories: Integrated Device Manufacturers (IDMs) or Fabless.
The design phase comprises of laying a framework for the fabrication of best Voltage Detectors. Academic and Company R&D Centers, IP Companies and EDA Tools providers form an important aspect of Designing phase.
The process of subsequent deals with fabrication of digital voltage detector is carried out ins either company owned fabrication and assembly lines, or it can be outsourced to foundries.
Each player has its own network of suppliers and distributors, who supply the fully-assembled product to the end-user. Apart from the cost of raw materials and manufacturing, there is a certain share of taxes and instrumentation cost added to the product at each level. Moreover, apart from these primary activities, a lot of other secondary activities also add indirect value to the voltage detectors.
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Excerpts on Market Growth Factors:
Rising investments in various sector including oil and gas sector, power and transmission, gas processing and petrochemical is likely to drive the market in the future.
Renewable Energy is another impacting factor that has gained rapid adoption across the globe. The Renewable Energy systems requires a whole set of new facilities for connecting the power output to the conventional grids. As the shift towards renewable energy remains prevalent, the market will get fueled correspondingly for voltage detection units.
Increasing renewable energy generation such as solar energy, wind energy, biomass among others to drive the continuous DC voltage detector market. According to U.S. Energy Information Administration, 13% of the U.S. electricity is produced by renewable energy sources. Further, increasing fossil fuels prices along with economic benefits of renewable energy generation to drive the renewable generation market which in turn will fuel the continuous DC voltage detector market.
Continuous DC voltage detector is projected to reach $259.86 million by 2023 growing at a CAGR of 4.72% throughout the forecast period.
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Key players of Voltage Detector Market:
Notable players in the Voltage Detector Market comprise of Analog Devices, ON Semiconductor, STMicroelectronics, Texas Instruments and ROHM Semiconductor.
The top companies have been investing significantly in R&D. Texas Instruments and STMicroelectronics are one of the key players, has witnessed strong revenues in the recent past.
Toshiba, Seiko, Texas Instruments launched maximum number of products over the last few years.
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