Enjoy complimentary customisation on priority with our Enterprise License!
The power management integrated circuit (PMIC) market size is estimated to grow by USD 9.82 billion at a CAGR of 5.01% between 2023 and 2028. The growing trend of smart buildings, which leverage IoT technology to improve energy efficiency and automation, is driving demand for energy management devices. The increasing integration of IoT technology with these devices allows for real-time monitoring and control of energy usage, further enhancing their effectiveness. Additionally, the growing application of power management ICs in end-user industries, such as automotive, consumer electronics, and industrial automation, is driving market growth as these ICs help improve energy efficiency and reduce power consumption. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
To learn more about this report, View Report Sample
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.
Get a glance at the market contribution of various segments View Free PDF Sample
The voltage regulators segment showed a gradual increase in the market share of USD 10.14 billion in 2018. In telecommunications infrastructure, voltage regulators are essential in base stations, routers, switches, and network equipment to maintain a reliable supply and prevent voltage fluctuations. Moreover, the role of voltage regulators in ensuring harmonized 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 market. They play a crucial role in this industry by providing efficient supply, control, and management for various automotive and transportation applications. Integrated circuits that regulate vehicle power are used in many electronic systems and components. They are essential for the powering of aircraft cockpit systems, flight controllers, lighting, and all electronic subsystems on board. To ensure efficient energy distribution and control of trains and railway infrastructure, the rail industry also relies on these ICs. Thus, the growing use in automotive and transportation will drive the growth of the market.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 45% to the growth of the 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 these ICs.
The market is witnessing significant growth, driven by various factors such as the increasing adoption of connected cars and connected vehicles. The demand for amplifiers and other audio system components is also rising, leading to innovations in audio system software and firmware. Additionally, favorable government policies and the growing consumer awareness about the benefits of aftermarket audio upgrades are contributing to the market's growth trajectory. The Power Management Integrated Circuit (PMIC) market is expanding rapidly, driven by the need for energy-efficient solutions in the electronic industry. PMICs, including bipolar ICs and microprocessor supervisory ICs, are crucial for optimizing power in mobile devices, IT devices, and IoT applications. These circuits enhance performance and battery life in automotive ICs, lighting ICs, and motion ICs. With the rise of AI and smart technologies, PMICs are integral to managing power efficiently across various electronic components and systems.
The growing trend of smart buildings is driving growth in the market. The enhanced energy efficiency offered by smart home technologies is a valuable asset to communities. Power Management Integrated Circuits (PMICs) play a crucial role in gathering significant data and converting it into valuable insights. Researchers are concentrating on Power Management Integrated Circuits (PMICs) to aid smart homeowners in lowering energy usage and enhancing the power grid's efficiency. This focus aligns with efforts to reduce costs, increase customer loyalty, offer customized playlists, leverage favorable government policies, and improve firmware.
However, current systems lack the capability to gather sufficient data for comparing energy usage across multiple households. Additionally, current PMIC solutions do not integrate well with smart home technologies. With the increasing number of homeowners adopting connected devices for controlling lighting, temperature, security, and entertainment, there is a growing opportunity for PMICs to gather more information on home energy usage, leading to the development of safer home systems and driving 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. Some 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. 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 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 market. They 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, these 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 that satisfy the specified requirements while using an environmentally responsible production process as part of compliance with environmental regulations. Thus, the regulatory compliance associated can become a major challenge for the growth of the market in focus during the forecast period.
The market 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 market forecast report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies 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 companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is thriving, driven by advancements in energy efficiency and the proliferation of battery-powered devices. Key applications span automotive electronics, including Advanced Driver Assistance Systems (ADAS) and electric vehicles (EVs), as well as consumer electronics like smartphones, fitness trackers, and smart devices. PMICs, including configurable PMICs and battery management ICs, play a crucial role in optimizing battery life and quick charging, crucial for both Li-ion and coin cell batteries. The market also benefits from innovations in semiconductor materials, such as Gallium Nitride (GaN) and Silicon Carbide (SiC), enhancing thermal performance and reducing electromagnetic interference (EMI). These advancements support diverse sectors, from home appliances and medical electronics to 5G networks and data centers, driving efficiency in power distribution and circuit design technologies.
Furthermore, the market is advancing with innovations that enhance energy efficiency across various sectors. Key applications include battery chargers for Li-ion batteries, DC/DC regulators, and integrated ASSP power management ICs. PMICs are crucial for managing power in portable devices, plug-in electric vehicles (PEVs), and automotive systems, including those with an Automotive Safety Integrity Level (ASIL). Supporting technologies like AI, 5G, and OLED screens are driving demand, with semiconductor manufacturers focusing on efficient power solutions for communication, building control, and military electronics.
Market Scope |
|
Report Coverage |
Details |
Page number |
187 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.01% |
Market Growth 2024-2028 |
USD 9.82 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.68 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key countries |
China, US, Germany, India, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, 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 International N.V., Texas Instruments Inc., and Vishay Intertechnology Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.