Demand for metal oxide varistor rises due to popularity of IoT

Technology - Mohit Shah - May 24,2017

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demand for metal oxide varistor rises due to popularity of iot

According to the key findings, the worldwide market for metal oxide varistor will rise at a healthy CAGR of 11.7% from 2017-2025; market growth to rise to US$20.79 billion by the end of 2025.

The Metal Oxide Varistor is abbreviated as MOV, which is a nonlinear voltage dependent device that offers excellent transient voltage suppression. It is interesting to know that, when exposed to high transient voltage, this device clamps voltage to a safe level and thereby protects different types of electronic devices as well as semiconductor elements from induced lightning flows and switching. Presently, the market for MOV is primarily driven by its utility in various devices. Moreover, the sector is immensely affected by the gaining popularity of Internet of Things (IoT) and its impressive adoption in automobile application.

As per a recent research report published by Market Research Hub (MRH), the worldwide market for metal oxide varistor is expected to grow at a healthy CAGR of 11.7% from 2017-2025; the market would surge from a valuation of US$7.73 billion to reach US$20.79 billion by the end of 2025.

Presently, the different types of metal oxide varistor which are popular globally include disc metal oxide varistor, block metal oxide varistor, strap metal oxide varistor and ring metal oxide varistor. The active usage of MOVs is focused towards various sectors such as automotive electronics, line voltage equipment, industrial power electronics, wireless handset telecommunication, consumer electronics, lighting ballasts and others. 

Currently, the main regions catering the metal oxide varistor cover North America, Europe, Asia-Pacific, Latin America and Middle East & Africa (MEA). Moreover, looking at the specific countries, the U.S., Canada, Mexico, Germany, Italy, India, France, China, UAE, Japan, South-Africa and Brazil have been spotted to be the effective regions for the high demand for metal oxide varistor.

The top companies involved in the production and manufacturing of MOVs are General Electric, TDK Corporation, KEMET Corporation, Moda-Innochips Co. Ltd., Amotech Corp., Centra Science Corp., MDE Semiconductor Inc. and Murata Manufacturing Co. Ltd.

 

For more information on this report visit- http://www.marketresearchhub.com/report/metal-oxide-varistor-mov-market-global-industry-analysis-size-share-growth-trends-and-forecast-2017-2025-report.html