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The Smartphone Power Management Integrated Circuit (IC) Market size is projected to increase by USD 5.37 billion at a CAGR of 7.14% between 2023 and 2028. The growth rate of the market depends on several factors, including growing internet penetration and data traffic, integration of advanced technologies in smartphones, and the growing adoption of premium range smartphones. Analog Devices Inc. provides a range of smartphone power management IC solutions, including uModule LED Drivers, µModule Buck Regulators, Battery Status Monitors, isoPower technology, Xenon Photoflash Charger, and more.
Moreover, the market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including Analog Devices Inc., Infineon Technologies AG, MagnaChip Semiconductor Corp., MediaTek Inc., Microchip Technology Inc., Nisshinbo Holdings Inc., NXP Semiconductors NV, ON Semiconductor Corp., Qorvo Inc., Qualcomm Inc., Renesas Electronics Corp., Richtek Technology Corp., ROHM Co. Ltd., Samsung Electronics Co. Ltd., Semtech Corp., STMicroelectronics International NV, Texas Instruments Inc., Toshiba Corp., and Diodes Inc.
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The market is driven by the increasing demand for efficient power management integrated circuits (ICs) in electronic systems and gadgets. With consumers prioritizing longer battery life in portable electronics like tablets, smartwatches, and Internet of Things devices, the market witnesses a surge in demand for PMICs. Challenges include ensuring effective power controls and voltage safety while managing heat dissipation in semiconductor components. Emerging trends focus on enhancing integration processes for power management IC chips and integrating features like motor control ICs and low voltage regulators to meet the evolving needs of connected devices in next-gen mobile networks. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The growing adoption of premium-range smartphones is notably driving market growth. The market for premium-range smartphones is witnessing significant growth attributed to the integration of advanced features. These smartphones boast 20-megapixel cameras, eight-core processors, full high-definition displays, and rapid charging technologies. Manufacturers strive for innovation, incorporating human-machine-interface (HMI) technologies, AI chips, and dual cameras. However, the demand for larger screens and power-intensive applications like video streaming and navigation escalates pressure on battery life.
Further, power management ICs emerge as a crucial component to extend smartphone battery life. Envelope tracker ICs, particularly beneficial for power-hungry LTE smartphones, contribute to improved battery performance. Samsung's upcoming release, the S24, featuring the Exynos 2400 processor, promises enhanced CPU performance and AI processing. This continuous evolution in premium smartphone launches is anticipated to propel the market during the forecast period.
The adoption of Gallium Nitride (GaN) technology in ICs offering higher efficiency is an emerging trend shaping the market growth. Gallium nitride (GaN)--based power management ICs are revolutionizing the smartphone industry by offering higher efficiency, faster charging, and smaller form factors compared to traditional silicon-based solutions. Smartphone manufacturers leverage GaN technology to enhance device performance while meeting the demand for advanced features. GaN adoption is primarily driven by the need for rapid charging solutions. GaN-based ICs facilitate protocols like Qualcomm's Quick Charge and USB Power Delivery, enabling swift and efficient recharging to minimize downtime.
Moreover, GaN technology enables higher operating frequencies and energy densities, resulting in more compact and energy-efficient smartphone designs. This is crucial for enhancing user experience and portability, considering space and battery life constraints. Leading manufacturers like Xiaomi, Oppo, and Samsung are already incorporating GaN-based fast-charging technology in their devices. Semiconductor companies such as Infineon and Texas Instruments are also actively developing GaN-based solutions tailored for smartphones, indicating substantial growth potential in the market.
The increasing complexity of power management IC design is a significant challenge hindering market growth. Such technologies in the past were integrated within the application processor. This approach is no longer feasible as application processors require energy management semiconductor ICs to generate a high-energy supply that can be fed to different parts of applications and the baseband processor with the right combination of voltage and current. This requires a high-power supply, resulting in an increased number of pins on the chip. The main reason for the increased complexity in the design of power management ICs is the growing demand from end-users for more functionalities in electronic products.
Moreover, companies need to invest more in research and development and focus on providing optimized products with the right balance of performance and price. This increases complexity and results in a delay in the development of power management ICs, as vendors need to spend more time on design and development. Thus, such complexities of PMIC design will hinder the growth of the market during the forecast period.
The market caters to the diverse needs of electronic systems and gadgets, ensuring optimized battery life in portable electronics like tablets, smartwatches, and Internet of Things (IoT) devices. Power Management Integrated Circuits (PMICs) and chips play a crucial role in managing electrical power flow and ensuring efficient power controls and voltage safety. With a focus on heat dissipation and semiconductor components, these ICs enable the smooth operation of battery-operated devices such as cell phones. As the demand for connected devices grows, integration processes for power management IC chips and motor control ICs become increasingly vital, alongside advancements in low voltage regulators to support next-gen mobile networks like 4G and 5G.
The market share growth by the premium range segment will be significant during the forecast period. Premium range segment consists of smartphones priced above USD 400. Premium range smartphones incorporate advanced features such as cameras with more than 20 megapixels (MP), octa-core microprocessors, OLED displays, RAM higher than 6 GB, and storage memory of more than 128 GB.
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The premium range was the largest segment and was valued at USD 6.64 billion in 2018. Furthermore, as smartphone manufacturers integrate advanced features like AI and virtual assistants, the need for high power and battery capacity increases, posing challenges such as overheating. To address these challenges, multifunctional management ICs are being integrated. For instance, Samsung Electronics Galaxy S10+ utilizes six power management ICs to control various components, while Apple's iPhone 12 Pro integrates power management ICs for efficient control of essential components. This trend of integrating advanced technologies and features is expected to drive the growth of the market during the forecast period.
The integrated application specific standard product (ASSP) power management ICs offer comprehensive power management solutions tailored specifically for smartphones, combining multiple functions into a single chip to optimize space utilization, reduce power consumption, and enhance overall system efficiency. As smartphones become more feature-rich and power-hungry, the complexity of their requirements grows. Integrated ASSP PMICs address this complexity by integrating various energy functions such as voltage regulation, battery charging, sequencing, and energy management into a single chip, streamlining design complexity and reducing bill of materials (BOM) costs. Overall, the increasing complexity and challenges associated with modern smartphones, coupled with the advantages offered by integrated ASSP power management ICs in terms of efficiency and integration, will drive the growth of the segment during the market during the forecast period.
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APAC is estimated to contribute 76% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The smartphone power management IC market in the Asia-Pacific (APAC) region is witnessing rapid growth, driven by increasing smartphone penetration in countries like China, India, Japan, South Korea, and Taiwan. With major players like Samsung Electronics, Huawei Technologies, and Xiaomi, APAC leads in smartphone manufacturing. As OEMs expand their geographical presence, setting up manufacturing plants closer to high-demand regions becomes imperative to reduce costs and time-to-market. For instance, Samsung's USD 920 million investment in a Vietnam plant expansion and Dixon Tech's massive new factory in India reflect this trend.
In addition, as Chinese smartphone manufacturers capture significant market share in India and China, the demand for smartphones with advanced features rises, necessitating high-performance power management ICs. The emergence of 5G-enabled smartphones further fuels demand for these ICs. With a dense network of foundries and semiconductor manufacturers, APAC enjoys low production costs for power management ICs, enhancing the competitiveness of smartphones in the region during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, 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 market growth and trends 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 smartphone power management IC which includes Low Drop Out (LDO) Voltage Regulators, uP Supervisors, and Power Management Solutions for Portable and Low Power Applications.
Market analysis and report of 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 forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market plays a crucial role in the efficient functioning of electronic devices, including wearable electronics, electric vehicles (EVs), and renewable energy systems like solar and wind power. As data centers and data processing operations expand, the demand for energy efficiency and data security grows. These ICs are essential for precision voltage references, voltage monitoring, and power distribution units (PDUs) in both consumer electronics and automotive applications. With increasing integration processes and automation in manufacturing, the market witnesses high demand from OEMs and ODMs, despite challenges such as chip shortages and travel bans. Supply chain management (SCM) platforms and product lifecycle management (PLM) systems also drive demand to ensure seamless operations across various industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
185 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.14% |
Market Growth 2024-2028 |
USD 5.37 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.86 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 76% |
Key countries |
US, Canada, China, South Korea, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Analog Devices Inc., Infineon Technologies AG, MagnaChip Semiconductor Corp., MediaTek Inc., Microchip Technology Inc., Nisshinbo Holdings Inc., NXP Semiconductors NV, ON Semiconductor Corp., Qorvo Inc., Qualcomm Inc., Renesas Electronics Corp., Richtek Technology Corp., ROHM Co. Ltd., Samsung Electronics Co. Ltd., Semtech Corp., STMicroelectronics International NV, Texas Instruments Inc., Toshiba Corp., and Diodes 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, 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Price
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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