EV sales in the US increased by ~200% from the second quarter of 2020 to the same quarter in 2021, recording an increase of 3.6%. The sales of electric vehicles are high in the US, which signifies a high demand for battery management systems in electric vehicles. Therefore, the rising electrification of vehicles, increasing advancements in medical imaging, and growing safety standards in industrial automation are among the key factors driving the digital isolators market growth in North America. These devices transfer large volumes of video imaging data from image sensors to image processors while maintaining high levels of electrical isolation. Further, increasing advancements in medical imaging devices propel the demand for digital isolators. Isolators are incorporated in modules such as onboard chargers (OBCs), battery management systems (BMS), DC-DC converters, traction inverters, and heating/cooling units in electric vehicles. The high-wattage power electronics need to be communicated with and controlled by digital controllers requiring digital isolation. As automotive designs are increasingly moving toward electrification, high-wattage power electronics are becoming critical components in the drivetrain and battery systems of vehicles. Automotive manufacturers across North America proactively focus on boosting their electric vehicles’ sales. The US held the largest digital isolators market share in 2021, whereas Canada is projected to register the highest CAGR during the forecast period. The digital isolators market in North America is segmented into the US, Canada, and Mexico. As the demand for electronics remained constant amid the global crisis, the digital isolators market managed to resume its pace in late 2020. However, a considerable share of this remained unaddressed due to the gap created between semiconductor demand and supply by supply chain disruptions and operation limitations in semiconductor companies. On the other hand, the demand for factory automation solutions increased in North America during the COVID-19 pandemic, as different enterprises were seeking innovative ways to cut down manual operations in workplaces. Consumer spending on the procurement of consumer electronic devices declined during the pandemic. Further, the shortage of semiconductor chips across the US and Canada led to a slowdown in the digital isolators market size. The majority of manufacturing facilities in North American countries were kept closed during the FY 2020–2021 due to COVID-19 restrictions and supply chain disruptions in the semiconductors industry. The well-developed infrastructure that supports high-speed internet services is a major reason for the large-scale adoption of smart devices in North America. Impact of COVID-19 Pandemic on North America Digital Isolators Market Growth The partnership will increase the company's reach and presence in the EMEA market. For instance, in 2022, Mornsun Guangzhou Science & Technology Co Ltd announced that they had signed a distribution agreement with Avnet Abacus. Several digital isolators market vendors are adopting various organic and inorganic strategies to gain a competitive advantage. Growing automotive industry will have a positive impact in the digital isolators market growth. A surge in the production of these systems is projected to boost the adoption of digital isolators across the electric vehicle industry. Such a rise in electric vehicle manufacturing indicates high demand for battery management systems, inverters, and chargers. The number of deliveries across the country surged from ~1.15 million in H1 2021 to ~2.45 million in H1 2022. In H1 2022, China accounted for the majority of electric vehicle deliveries recorded across the world. According to the International Council on Clean Transportation (ICCT), ~4.3 million BEVs and PHEVs were delivered globally during H1 2022, which is ~62% higher than the deliveries recorded in H1 2021. The deliveries of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) are rapidly increasing at a double-digit Y-o-Y growth rate in different regions. The rising fleet of electric vehicles worldwide is expected to generate new market opportunities for digital isolators market players during the forecast period. The assembly of electric vehicles involves many electronic components, including digital isolators that are used in battery management systems, isolated Fieldbus, inverters, and chargers. The digital isolators market size is expected to grow from US$ 2,537.53 million in 2022 to US$ 4,133.11 million by 2028 it is estimated to record a CAGR of 8.5% from 2022 to 2028.
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