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The power management IC market size is estimated to grow at a CAGR of 4.97% between 2022 and 2027. The market size is forecast to increase by USD 9,309.01 million. The growth of the market depends on several factors, including the growing trend of smart buildings, the increasing integration of IoT technology with energy management devices, and the growing application of power management ICs in end-user industries. PMICs (power management integrated circuits) are integrated circuits that control how much power the host needs, either to extend the battery's life or to reduce the amount of power used by devices. PMICs are used to create an effective power supply in battery-operated portable electronics such as mobile phones, Bluetooth headsets, MP3 players, and portable industrial and medical equipment. These integrated circuits regulate the power flow from various sources, such as USB, batteries, and wall adapters, while staying within the current limit.
This power management ic market report extensively covers market segmentation by product type (voltage regulators, motor control IC, integrated ASSP power management IC, battery management IC, and other power management IC), end-user (automotive and transportation, consumer electronics, industrial, telecom and networking, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing trend of smart buildings is driving growth in the power management IC market. The improved energy efficiency of smart home technologies is a benefit to the community. PMIC is able to collect big data and process it into insightful analytics. To help proprietors of shrewd homes in diminishing energy utilization and expanding the proficiency of the power lattice, analysts are focusing on PMICs.
However, current systems cannot collect enough information to compare the energy use of multiple households. In addition, today's PMIC solutions are not compatible with smart home technologies. More and more homeowners are buying connected devices to control lighting, temperature, security, and entertainment. As a result, PMIC has many opportunities to collect additional information about home energy use to help develop safer home power management systems. Therefore, such development leads to market growth.
The growing recent developments in the power management IC industry are a primary trend in the market. There are a few recent improvements occurring in the market in focus, like new investments, agreements, mergers and acquisitions, and new product development. For instance, in April 2023, STMicroelectronics NV introduced the VIPerGaN100 and VIPerGaN65, two VIPerGaN high-voltage power converters. The VIPerGaN series of power converters incorporate high electron mobility transistors (HEMT) with an advanced pulse width modulator (PWM) controller to increase power density, efficiency, PCB size, and cost.
Similarly, in August 2021, an important supplier of power management integrated circuits, Dialog Semiconductors, was acquired by Renesas Electronics Corp. By combining Dialog low-power mixed-signal products, flash memory, low-power Wi-Fi and Bluetooth connectivity expertise, and battery and power management solutions, the acquisition is anticipated to assist Renesas in expanding its market presence with an even broader range of product portfolios. Thus, the increasing number of the latest power management IC developments is one of the recent trends expected to drive market growth during the forecast period.
The regulatory compliance associated with power management IC is a major challenge in a market restrain. Regulatory compliance has been a major hurdle in the global power management integrated circuit (PMIC) market. Power management ICs must meet various regulatory standards and certifications to ensure product safety, electromagnetic compatibility (EMC), and environmental considerations. To prevent users, devices, or surroundings from being exposed to risks, power management ICs need to comply with safety regulations. Manufacturers must invest in rigorous testing and validation processes to ensure their products meet the required safety standards.
Moreover, compliance with electromagnetic compatibility standards requires reducing electromagnetic emissions from ICs and ensuring adequate shielding and filtering to prevent interference. Adherence to these standards often requires proper circuit design, layout optimization, and proper grounding techniques. It is necessary for manufacturers to source components and materials which satisfy the specified requirements while using an environmentally responsible production process as part of compliance with environmental regulations. Thus, the regulatory compliance associated with power management IC can become a major challenge for the growth of the market in focus during the forecast period.
The market share growth by the voltage regulators segment will be significant during the forecast period. Voltage regulators are electronic devices or integrated circuits designed to maintain a stable output voltage regardless of variations in input voltage or load conditions. They play a critical role in ensuring that electrical devices are supplied with an equal and secure supply of power.
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The voltage regulators segment shows a gradual increase in the market share of USD 9,782.79 million in 2017 and continue to grow by 2021. In telecommunications infrastructure, voltage regulators are essential in base stations, routers, switches, and network equipment to maintain a reliable power supply and prevent voltage fluctuations. Moreover, the role of voltage regulators in ensuring harmonized power generation and grid synchronization is vital for renewable energy systems such as PV converters and wind turbines. The market in the focus of voltage is therefore expected to grow as the use of voltage regulators increases.
Based on the end-user, the market has been segmented into automotive and transportation, consumer electronics, industrial, telecom and networking, and others. The automotive and transportation segment is a significant end-use category within the global power management integrated circuit (PMIC) market. Power management ICs play a crucial role in this industry by providing efficient power supply, control, and management for various automotive and transportation applications. Integrated circuits that regulate vehicle power are used in many electronic systems and components. Power management ICs are essential for the powering of aircraft cockpit systems, flight controllers, lighting, and all electronic subsystems on board. In order to ensure efficient energy distribution and control of trains and railway infrastructure, the rail industry also relies on power management ICs. Thus, the growing use of power management IC in automotive and transportation will drive the growth of the market.
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APAC is estimated to contribute 42% to the growth of the global power management integrated circuit market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is home to several prominent electronics manufacturing countries such as China, Japan, South Korea, and Taiwan, which have contributed to a strong electronics industry in the region. Growth in the electronics industry, driven by applications in consumer electronics, automotive electronics, industrial automation and IoT, has created significant demand for power management ICs.
The outbreak of COVID-19 led to tighter supply and higher prices of some electronic components, such as passive components and PCB. However, as the cases of COVID-19 decrease, enterprises will start to operate with new regulations. Electronic component manufacturers invest heavily in the supply of cleaning materials and deep clean their facilities with a view to preserving an infection-free environment, In order to start operations. In order to support the economy and protect enterprises and workers, governments in different countries are encouraging manufacturers of electronic components by introducing new regulations. The support from governments will help the manufacturers that are working on a tight cash flow. This will lead to an improvement in the supply of electronic components and, in turn, help in the recovery of the global market.
The Power Management IC Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Power Management IC Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Infineon Technologies AG - The company offers power management IC such as OPTIREG automotive-focused power management IC.
Allegro MicroSystems Inc. - The company offers power management IC such as A4408 power management IC.
Analog Devices Inc. - The company offers power management IC such as LTC3554 power management IC.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The power management integrated circuit market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Power Management IC Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.97% |
Market growth 2023-2027 |
USD 9,309.01 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.54 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Allegro MicroSystems Inc., Analog Devices Inc., Infineon Technologies AG, MagnaChip Semiconductor Corp., Microchip Technology Inc., MinebeaMitsumi Inc., Mitsubishi Electric Corp., Monolithic Power Systems Inc., Nordic Semiconductor ASA, NXP Semiconductors NV, ON Semiconductor Corp., Qorvo Inc., Qualcomm Inc., Renesas Electronics Corp., ROHM Co. Ltd., Semtech Corp., STMicroelectronics NV, Texas Instruments Inc., and Vishay Intertechnology Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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