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Global Metal Oxide Varistor (MOV) Market: Growing Adoption of IoT by Electronic & Automotive Industry Players for Automation Driving Demand

Albany, NY -- (SBWIRE) -- 07/16/2018 -- The analyst of a fresh business intelligence study by Transparency Market Research (TMR) has detected that the opportunities in the market for metal oxide varistor (MOV) are expanding prodigiously, and consequently, the competition among the leading vendors is intensifying, particularly with the inflow of numerous local players. The report has projected the demand in the global metal oxide varistor market to increment at an impressive CAGR of 11.7% during the forecast period of 2017 to 2025. It has been estimated that the global MOV market will reflect a revenue of US$20.79 bn by the end of 2025, substantially swelling up from its evaluated worth of merely US$7.73 bn in 2016.
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