The galvanic isolation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Galvanic Isolation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The galvanic isolation market size has grown strongly in recent years. It will grow from $1.81 billion in 2023 to $1.97 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to growth in telecommunications infrastructure, increasing demand for automation, integration of renewable energy sources, increasing electronic content in vehicles, data communication expansion.
The galvanic isolation market size is expected to see strong growth in the next few years. It will grow to $2.78 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to surge in electric vehicle (EV) production, growth of internet of things (IoT) devices, increasing focus on electrical safety, rise in demand for medical devices. Major trends in the forecast period include increased adoption of digital isolation technologies, emergence of wireless charging solutions, rise of edge computing, advancements in high-speed communication interfaces, focus on miniaturization and integration.
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Scope Of Galvanic Isolation Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Galvanic Isolation Market Overview
Market Drivers –
The growth of renewable energy sources is expected to propel the growth of the galvanic isolation market going forward. Renewable energy, commonly known as clean energy, originates from natural sources or ongoing processes that undergo continuous replenishment. Renewable energy sources are on the rise due to their increasing affordability, supportive government policies, and the growing global focus on sustainability and reducing carbon emissions. Galvanic isolation ensures safety and prevents ground loops in renewable energy systems by electrically separating components. In renewable energy systems such as solar photovoltaic (PV) and wind power generation, galvanic isolation provides a barrier between different electrical circuits, preventing the flow of current and eliminating ground loops. For instance, in December 2023, according to Eurostat, a Luxembourg-based government agency, the European Union (EU) reached a 23.0% share of its gross final energy consumption from renewable sources in 2022, around 1.1% points higher than in 2021. Therefore, the growth of renewable energy sources is driving the growth of the galvanic isolation market.
Market Trends –
Major companies operating in the general ledger accounting software market are focused on developing innovative solutions, such as AI-enabled revenue recognition and audit modules, to power new levels of accounting transparency. AI-enabled revenue recognition and audit modules are software solutions that leverage artificial intelligence (AI) technologies to enhance the accuracy, efficiency, and effectiveness of revenue recognition processes and auditing tasks within organizations. For instance, in January 2023, Trullion Ltd., a US-based leading accounting automation platform, launched AI-enabled audit modules, allowing auditors to extract ERP/General Ledger (GL) files and instantly validate against their source data, such as invoices, PDFs, and other client sources. This module offers a new workflow to expedite the test of details within its suite of audit automation solutions.
The galvanic isolation market covered in this report is segmented –
1) By Type: Analog Galvanic Isolation, Digital Galvanic Isolation
2) By Data Range: Above 75 Mbps, 25-75 Mbps, 25 Mbps
3) By Channel: Two Channels, Four Channels, Six Channels, Eight Channels, Other Channels
4) By Sales Channel: Online Retail, Direct Sales
5) By Application: Healthcare, Telecommunications, Manufacturing, Energy, Automotive, Aerospace And Defense, Consumer Electronics, Other Applications
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Regional Insights –
North America was the largest region in the galvanic isolation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the galvanic isolation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the galvanic isolation market are Schneider Electric SE, Broadcom Inc., Toshiba Electronic Devices & Storage Corporation, Würth Elektronik, Eaton Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., TDK Corporation, Infineon Technologies AG, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ROHM Semiconductor, Vishay Intertechnology, Maxim Integrated, Corrpro Companies Inc., Mornsun Power, Silicon Laboratories, Semtech Corporation, Pepperl+Fuchs GmbH, Power Integrations, RECOM Power GmbH, Perle Systems Europe Ltd., Professional Mariner LLC, Traco Electronic AG
Table of Contents
1. Executive Summary
2. Galvanic Isolation Market Report Structure
3. Galvanic Isolation Market Trends And Strategies
4. Galvanic Isolation Market – Macro Economic Scenario
5. Galvanic Isolation Market Size And Growth
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27. Galvanic Isolation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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