NEW YORK, United States, June 21, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Galvanic Isolation Market 2023-2030.” in its research database. According to the latest research study, the global galvanic isolation market size was valued at approximately USD 1.84 billion in 2022. The market is expected to grow above a CAGR of 4.88% and is anticipated to reach over USD 2.70 billion by 2030.
The report analyzes the global galvanic isolation market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the galvanic isolation industry.
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Galvanic Isolation Market Overview:
Electric circuits can be isolated using galvanic isolation to get rid of stray currents. It developed into a sophisticated method for improving safety by stopping unintentional currents from travelling forward towards the human body. Transformers, capacitors, and optical isolators have all been used extensively to make sure that AC current enters the circuit but does not go through the body. For modern equipment designs to improve the safety of both the workers and other electronic devices, isolating power supplies is essential. Inverters, monitoring systems, intrinsic safety isolators, medical equipment, and other things are some of the different isolation components. Between a low-voltage isolated circuit and electricity from the control unit, a galvanic isolator bridges the gap. However, these benefits both the vehicle and the control device. Additionally, it lessens noise generated by the common points in the circuit.
Key Insights from Primary Research
- As per the analysis, the galvanic isolation market is likely to grow above a CAGR of around 4.88% between 2023 and 2030.
- The Galvanic Isolation market size was worth around US$ 1.84 billion in 2022 and is estimated to hit approximately US$ 2.70 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The growing electrification is likely to boost the global galvanic isolation market growth during the forecast period.
- Based on the data range, the 25 - 75 Mbps segment swipes the largest share of the global market.
- Based on the channels, the 4-channel segment holds the largest share of the global market.
- Based on the isolation type, capacitive coupling accounts for the largest share of the global market
- Based on the sales channels, the retail sales segment is likely to dominate the global market.
- Based on the verticals, the industrial sector is likely to dominate the global market.
- Based on region, Asia Pacific is expected to dominate the market during the forecast period.
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Industry Growth Drivers
- Growing electrification is likely to boost the growth of the global market.
The widespread adoption of digitalization across the globe is anticipated to be the major growth driver for the global galvanic isolation market. Through the electrification of vehicles, governments throughout the world are attempting to revolutionize the automotive industry. The scope of the global market for electric vehicles will expand during the forecast period due to the constant introduction of new electric vehicle models by various companies. The convenience of availability of carbon-reducing charging stations will also contribute to the expansion of the global market. In addition, manufacturers are incorporating lithium-ion batteries with a high voltage, which is anticipated to further stimulate the global galvanic isolation market.
Restraints
- Galvanic transformers' high cost may impede global market expansion.
The primary function of galvanic isolators is to prevent current flow and serve as an interface between two or more circuits. The most widely used galvanic isolators are quite expensive galvanic transformers. Consequently, it is likely to impede the expansion of the global galvanic isolation market during the forecast period.
Competitive Players
The report contains qualitative and quantitative research on the global galvanic isolation Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global galvanic isolation market include;
- Schneider Electric
- Analog Devices Inc. (ADI)
- Pepperl+Fuchs GmbH
- Professional Mariner LLC.
- Infineon Technologies AG
- Perle Systems Europe Ltd.
- ROHM Semiconductor
- STMicroelectronics N.V.
- Avago Technologies Limited (AVGO)
- Corrpro Companies Inc.
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Galvanic Isolation Market: Segmentation
The global galvanic isolation market is segmented into five major categories, namely, data range, channel, isolation type, sales channel, vertical, and region.
On the basis of isolation type, the industry for galvanic isolation can be subdivided into giant magnetoresistive, magnetic coupling, and capacitive coupling. Due to its high demand, capacitive coupling accounts for the largest share of the global market. Capacitive coupling refers to the digital isolators used in a variety of applications, such as automotive systems, medical devices, and industrial automation, among others. Its advantages, such as noiseless operation, renewable energy, enhanced safety, etc., give it a competitive edge over others.
The market can be segmented on the basis of sales channels into online retail and direct sales. The retail sales segment is likely to dominate the global market during the forecast period. The high accessibility of the retail sector is the most important factor contributing to the expansion of the global market. Due to the broad availability of numerous products on the market, the retail segment is expanding at a rapid rate. Additionally, people are more drawn to the retail sector due to their custom of purchasing at local retail stores. Nevertheless, the direct sales segment is anticipated to expand in the future years due to the growing popularity of direct selling and its high profit-generating structure.
Regional Analysis:
Asia Pacific: Due to advanced electronic device adoption, Asia Pacific dominates the global galvanic isolation market. Government backing and strong market participants are likely to boost regional market growth. South Korea and China lead regional galvanic isolation device sales and manufacture. Due to healthcare, communications, and automotive industry improvements, these countries are anticipated to grow greatly in the next years. Advanced consumer electronics awareness is rising. However, rising incomes in the region are increasing demand for modern electronics. Investment and infrastructure growth also boost the regional market throughout the projection period.
North America: North America is expected to have the fastest-growing galvanic isolation business because to its strict safety laws for industries. Industrialization and digitalization to boost the economy are also growing the regional market. Automation adoption in major nations like India, China, Japan, etc. is expected to boost regional market growth.
Europe: Due to increased consumer knowledge of the benefits of galvanic isolation in sophisticated electrical systems, Europe is likely to rise steadily.
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Recent Industry Developments:
- Mornsun Guangzhou Science & Technology Co Ltd in 2022 revealed the distribution agreement that is to be signed with Avnet Abacus. The agreement will open doors to the company's high market reach. It is also expected to expand its market, particularly in the EMEA market, in the forthcoming years.
- Broadcom Inc mentioned the initiation of ACNT optocouplers with the range of 14.2 mm and 15 mm creepage clearance for the isolation of high voltage current. These contain comprehensive products that are likely to satisfy the requirements of galvanic isolators.
Key questions answered in this report:
- What is the market size and growth rate forecast for Galvanic Isolation industry?
- What are the main driving factors propelling the Galvanic Isolation Market forward?
- What are the leading companies in the Galvanic Isolation Industry?
- What segments does the Galvanic Isolation Market cover?
- How can I receive a free copy of the Galvanic Isolation Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 1.84 Billion |
| Market Forecast in 2030 | USD 2.70 Billion |
| Growth Rate | CAGR of 4.88% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Schneider Electric, Analog Devices Inc. (ADI), Pepperl+Fuchs GmbH, Professional Mariner LLC., Infineon Technologies AG, Perle Systems Europe Ltd., ROHM Semiconductor, STMicroelectronics N.V., Avago Technologies Limited (AVGO), and Corrpro Companies Inc. |
| Segments Covered | By Data Range, By Channel, By Isolation Type, By Sales Channel, By Vertical, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Browse Complete Report Here | Galvanic Isolation Market By Data Range, By Channel, By Isolation Type, By Sales Channel, By Vertical, and By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030
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The global galvanic isolation market is segmented as follows:
By Data Range
- Above 75 Mbps
- 25-75 Mbps
- 25 Mbps
By Channel
- Two Channels
- Four Channels
- Six Channels
- Eight Channels
- Others
By Isolation Type
- Giant Magnetoresistive
- Magnetic Coupling
- Capacitive Coupling
By Sales Channel
- Online Retail
- Direct Sales
By Vertical
- Transportation
- Energy & Utility
- Manufacturing
- Industrial
- Public
- Healthcare
- Telecom Sectors
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2023-2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Data Range, By Channel, By Isolation Type, By Sales Channel, By Vertical, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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