Energy measurement is the computation of consumption of energy, which is applied in determining customer requirement, and assists in improved energy management. Progressions in technology in energy calculation leads to the replacement of conventional utility meters. The need for surged precision in electric meters from different applications such as manufacturing or commercial sectors is driving and increasing the demand for smart management. The energy measurement ICs market has observed a persistent need for ICs which are sufficiently smart for covering the general electric power operation. Energy measurement ICs are widely applied in energy meters which allows them to estimate the energy consumption, employing which the energy meters display real-time and accurate readings. Prominent players such as Atmel Corporation, Analog Devices Inc., Microchip Technology are prevalent in the US which supply and manufacture energy measurement ICs globally.The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
Market Segmentation
The research by Market Research Future (MRFR) assesses [FURL=https://www.marketresearchfuture.com/reports/energy-measurement-ics-market-1681]Energy Measurement ICs Market Covid 19[/FURL] by different segments such as type, functions, regions, and application. Based on function, the market has been segmented into apparent energy (kVA), active energy (kWh), RMS energy, and reactive energy (kVAR). According to type, the market has been segmented into multi-channel and single-channel. On the basis of application, the market has been segmented into industrial, smart-plugs, smart appliances, power monitors for servers, smart cities, and smart homes, out of which, the industrial vertical is ruling the market as it carries most of the energy measurement activities. On the other hand, development is anticipated for industrial verticals in the assessment period. Based on region, the market has been bifurcated into Asia-Pacific, Europe, North America, and the rest of the world.
Key Players
The renowned players in the energy measurement ICs are NXP Semiconductors (Netherlands), Analog Devices Inc.(US), Cirrus Logic (US), Atmel Corporation (US), STMicroelectronics (Switzerland), Maxim Integrated (US), Microchip Technology (US), Integrated Device Technology, Inc. (US), and Linear Technology (US).
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