PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455672
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455672
Power Management IC Market size was valued at USD 32,459.43 Million in 2023, expanding at a CAGR of 5.4% from 2024 to 2032.
Power Management Integrated Circuits (PMICs) play a crucial role in regulating and distributing power within electronic systems, ensuring efficient operation of devices such as smartphones, laptops, and IoT gadgets by managing tasks like voltage regulation, battery charging, and power conversion. This market's expansion is primarily driven by the universal need for power control across electronic components, regardless of voltage requirements or final application. Major players in the industry are constantly innovating in processes, packaging, and circuit design to meet diverse application needs, resulting in the development of highly tailored devices.
Power Management IC Market- Market Dynamics
Advancements in automotive technology and manufacturing to propel market demand
PMICs are increasingly being utilized to enhance power density, prolong battery life, minimize electromagnetic interference, preserve power and signal integrity, and ensure safety in high-voltage environments. The automotive sector is a significant consumer of PMICs, driven by advancements in automotive technology and manufacturing, which demand compact, energy-efficient devices. Factors such as growing automotive production and the integration of advanced features are propelling the demand for PMICs in this sector. In automotive applications, power requirements necessitate high reliability, efficiency, and various safety functionalities. The increasing demand for features like broad voltage input, multiphase power support, compliance with automotive safety integrity levels (ASIL), and full-system energy management for high-powered system-on-chips (SoCs) is fueling the adoption of PMICs. Applications such as advanced driver assistance systems (ADAS), including camera and radar technologies, infotainment and cluster systems, active safety features, body electronics, lighting control, as well as electric, hybrid, and powertrain systems, present significant opportunities for PMIC deployment.
Power Management IC Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.4% over the forecast period (2024-2032)
Based on Application segmentation, DC-DC converters was predicted to show maximum market share in the year 2023
Based on End User segmentation, consumer electronics was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Power Management IC Market is segmented on the basis of Application, End User, and Region.
The market is divided into six categories based on Application: Linear Regulators, Reset ICs (Voltage Detectors), LED Controllers, DC-DC Converters (Switching Regulators), Switch ICs, Others. Based on applications, the DC-DC converters (Switching regulators) segment secured the largest market share in the Power Management IC industry in 2023, with further significant growth anticipated in the forecast period. This market expansion is attributed to escalating demands for power management solutions featuring high voltage technologies, alongside heightened reliability and robustness for industrial and automotive applications, as well as compactness and high performance for consumer applications. These switched-mode power supply systems (PMIC) offer a comprehensive array of protective features, including overcurrent, overvoltage, and over-temperature safeguards, aimed at maximizing mean time between failures (MTBF) while minimizing the need for external components to facilitate electricity transformation. An array of product options is available in the market, all designed to provide compactness and superior thermal efficiency to support specific application requirements.
The market is divided into six categories based on End User: Automotive, Consumer Electronics, Industrial, Communication, Computing, and Other End-Users. Based on end users, the consumer electronics sector stands out as a dominant player in the power management market as of 2023. The surge in demand for smartphones, tablets, laptops, wearables, and other electronic gadgets fuels the need for efficient and dependable power management solutions to optimize battery life, charging speed, and overall device performance. Manufacturers of consumer electronics prioritize power management technologies offering swift charging capabilities, minimal standby power consumption, and effective thermal management features to elevate user satisfaction and distinguish their products in a fiercely competitive market environment. As consumers increasingly rely on electronic devices for communication, entertainment, productivity, and daily routines, the consumer electronics segment emerges as a major driver of demand for innovative power management solutions tailored to meet the evolving demands of modern digital lifestyles.
Power Management IC Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Within power management integrated circuit (IC) market landscape, companies specializing in PMICs prioritize the development of highly integrated, efficient, and dependable solutions. By continuously innovating in semiconductor manufacturing processes, they aim to enhance power efficiency and reduce consumption, meeting the evolving demands of modern electronic devices. Moreover, these companies offer diverse PMIC portfolios tailored to specific applications, ensuring customers have access to optimized power management solutions for their electronic devices. These leading players in the market actively pursue various strategies, including partnerships and acquisitions, to augment their product portfolios and establish sustainable competitive advantages.
In April 2023, Texas Instruments made a notable announcement concerning its latest offering, the SimpleLink family of Wi-Fi 6 companion integrated circuits (ICs). These ICs are engineered to address applications operating in high-density or high-temperature environments, capable of withstanding temperatures up to 105ºC.
GLOBAL POWER MANAGEMENT IC MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Texas Instruments Incorporated
Semiconductor Components Industries LLC (Onsemi)
Analog Devices Inc.
ROHM Co. Ltd
Vishay Intertechnology Inc.
NXP Semiconductors N.V.
Infineon Technologies AG
Qualcomm Incorporated
Renesas Electronic Corporation
STMicroelectronics N.V.
Others