Shunt Voltage References Market: Global Industry Analysis and Forecast (2023-2029)

Shunt Voltage References Market size was valued at US$ 3.79 Bn. in 2022 and the total revenue is expected to grow at 5.4% through 2022 to 2029, reaching nearly US$ 5.48 Bn.
Shunt Voltage References Market Overview:
The increasing number of technical developments in various industries around the world, as well as the overall digital revolution, are driving the global Shunt Voltage References market growth. The increased rate of technological advancements globally, whether it is artificial intelligence (AI), the internet of things (IoT), or digital reality, is directly proportional to the growth of the global Shunt Voltage References market. It is estimated that more than 20 Bn devices are expected to be connected to the internet during the forecasted period. With hundreds of devices connecting to the internet every second, the global digital transformation in various industries is expected to provide value-creating opportunities in the global Shunt Voltage References market, which is expected to significantly boost market revenue throughout the forecast period. Consumer electronics, communication technology, & automotive advancements are expected to drive sales of shunt voltage References during the forecasted period.To know about the Research Methodology :- Request Free Sample Report
Shunt Voltage References Market Dynamics:
The growing demand for shunt voltage References to accelerate efficient industrial automation in a variety of end-use industries is a major factor expected to drive the global market. During the forecasted period, factors such as ease of use, reduced noise pollution, and low procurement costs are expected to drive growth in this market (2023-2029).

• The increasing use of these References in battery-powered devices, wind- and solar-powered systems, automotive electronics, and portable electronics to ensure optimal functionality and efficiency bodes well for the global market.

• Another factor that is likely to benefit the market is the increasing integration of shunt voltage reference modules in various devices due to their compact nature.

• The growing number of internet users, data transmission devices, and networks, as well as innovations in the ICT industry, are expected to create significant opportunities in the global Shunt Voltage References market during the forecast period (2023-2029).

• Companies are currently shrinking the size of shunt voltage References for ease of use, and this factor is expected to fuel growth during the forecasted period (2023-2029).

• Furthermore, leading companies intend to collaborate with various prominent automotive and consumer electronics manufacturers around the world. They are doing so in order to provide these manufacturers with in-house products and gain a competitive advantage. Meanwhile, a few other key players are increasingly focusing on acquisitions and new product development to diversify their portfolios and increase their market share.

Over the last two decades, the ICT industry has made significant contributions to the economic growth of developed, developing, and emerging countries. According to data from the United Nations Conference on Trade and Development (UNCTAD), total export (percentage) of ICT goods such as computers, peripherals, communication and electronic equipment, and other IT goods increased from 10.62 percent in 2011 to 11.51 percent in 2022. The highest rate was 51.7 percent in Hong Kong in 2022, followed by the Philippines, Singapore, and Malaysia. Furthermore, growth in the global economy, combined with various initiatives proposed by governments of various nations to meet their policy objectives, is expected to drive the global Shunt Voltage References market in the forecasted years (2023-2029).

Shunt Voltage References Market Restraints:

• Output voltage generation is a time-consuming process, which may limit the size of the shunt voltage References market during the forecasted period.
• Various components in these References must be replaced and maintained on a regular basis. It is expected to raise the overall operational costs of these References, stifling growth.
Shunt Voltage References Market Segment Analysis:
On the basis of the applications, the Shunt Voltage References market is segmented into Electronics, Automotive, Power Industry, Telecommunications, and Others.

Electronics and Automotive segments are estimated to grow at the fastest rate during the forecasted period (2023-2029). This is attributed to the rapid developments and advancements in the automotive sector; For Instance, the Increasing sales of EV and self-driving vehicles in developed and developing countries, which will further increase the demand during the forecasted period. Further, it is estimated that more than 20 billion electronics devices will be connected to the internet, which is further going to increase the demand for Shunt Voltage References market.

On the basis of product type, the Shunt Voltage References market is segmented into 1.25V, 2.5V, 4.096V, 5.0V and Others.
Shunt Voltage References Market Regional Overview:
Regionally the Shunt Voltage References Market is segmented into North America, Europe, Asia pacific, South America, Middle East & Africa.

Europe - Europe is expected to maintain its lead in the shunt voltage References market in the near future. The presence of several manufacturers in the United Kingdom, Italy, and Germany is expected to bode well for the regional market. Another important factor expected to drive the market is the presence of a well-established automotive industry in this region. According to the Society of Motor Manufacturers and Traders (SMMT), over 1.3 million cars (2.5 million engines and 78,270 commercial vehicles) were produced in the United Kingdom in 2022. These figures are expected to rise steadily in the Forecasted years, propelling the European market.

Asia Pacific - Rising demand for efficient industrial automation in India and China is expected to drive growth in the Asia Pacific shunt voltage References market in the coming years. Another important factor that is expected to boost regional market growth is the growing number of large enterprises and SMEs in these countries. Furthermore, the Asia Pacific market is expected to accelerate during the forecasted period due to the rapid expansion of the consumer electronics industry as a result of high disposable income and changing lifestyles (2022-2029).

Rest of the world is estimated to grow at a moderate pace during the forecasted period (2023-2029).

The report includes PORTER and PESTEL analyses, as well as the potential impact of market microeconomic factors. External and internal factors that are expected to positively or negatively affect the business have been examined, providing a clear future view of the industry.

The report also aids in understanding the Shunt Voltage References market dynamics, structure, and size projections by analysing market segments. A clear representation of competitive analysis of key players in the Shunt Voltage References market by product, price, financial position, product portfolio, growth strategies, and regional presence makes the report an investor's guide.
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Shunt Voltage References Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 3.79 Bn.


Forecast Period 2023 to 2029 CAGR:
5.4%
Market Size in 2029:
US$ 5.48 Bn.


 Segments Covered:
by Product Type
• 1.25V
• 2.5V
• 4.096V
• 5.0V
• Others


by Application
• Electronics
• Automotive
• Power Industry
• Telecommunications
• Others



Shunt Voltage References Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Shunt Voltage References Market Key Players are:
• Analog Devices (USA)
• Amphenol (USA)
• Stmicroelectronics (Switzerland)
• Texas Instruments (USA)
• On Semiconductor (USA)
• Intersil (Renesas Electronics) (USA)
• Microchip Technology (USA)
• Diodes Incorporated (USA)
• Njr (USA)
• Nxp Semiconductors (Netherlands)
• Semtech (USA)
• Maxim Integrated (USA)
• Exar (Maxlinear) (USA)
• Rohm Semiconductor (Japan)
• Fairchild Semiconductor (USA)
• Infineon Technologies (Germany)

Frequently Asked Questions:

1. What is the forecast period considered for the Shunt Voltage References market report?
Ans. The forecast period for the Shunt Voltage References market is 2023-2029.

2. Which key factors are hindering the growth of the Shunt Voltage References market?
Ans. Various components in these References must be replaced and maintained on a regular basis. It is expected to raise the overall operational costs of these References, stifling growth.

3. What is the compound annual growth rate (CAGR) of the Shunt Voltage References market for the forecast period?
Ans. The Shunt Voltage References market is estimated to grow at a 5.4% CAGR during the forecasted period.

4. What are the key factors driving the growth of the Shunt Voltage References market?
Ans. The growing number of internet users, data transmission devices, and networks, as well as innovations in the ICT industry, are expected to create significant opportunities and increase demand in the global Shunt Voltage References market during the forecast period (2023-2029).