Global Power Management ICs (PMICs) Market Size, Share, Growth Analysis, By Product(Voltage Regulators, Linear Voltage Regulators), By End User(Automotive & Transportation, Consumer Electronics) - Industry Forecast 2024-2031

Global Power Management ICs (PMICs) Market size was valued at USD 35.11 billion in 2022 and is poised to grow from USD 37.70 billion in 2023 to USD 66.64 billion by 2031, growing at a CAGR of 7.38% during the forecast period (2024-2031).

The growth of the power management integrated circuits (PMICs) market is hindered by factors such as cost constraints, despite the increasing demand for high integration, performance, and extended battery life in electronic devices. The global market for PMICs is expected to witness a boost in sales driven by the surge in portable electronic devices. As the demand for smartphones, tablets, and other consumer electronics rises, so does the need for PMICs to enhance charging efficiency and battery life. PMICs find applications in various devices, including media players, industrial and medical portable devices, and navigation systems. Moreover, the increasing emphasis on energy efficiency and government initiatives to reduce consumption, costs, and emissions contribute to the expanding use of PMICs in monitoring and managing power and energy consumption. The smart buildings sector is also poised to play a significant role in the economic prospects of the global Power Management IC Market, with PMIC-based energy monitoring equipment being deployed on a large scale for efficient energy retrofits.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Power Management ICs (PMICs) Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Power Management ICs (PMICs) Market Segmental Analysis

The global power management ICs (PMICs) market is segmented based on product, end user, and region. In terms of product, the market is segmented into voltage regulators, linear voltage regulators, DC regulators, motor control ICs, integrated ASSPs power management ICs, battery management ICs, and other power management ICs. Based on end user, the market is segmented into automotive & transportation, consumer electronics, industrial, telecom & networking, and others. In terms of region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Drivers of the Global Power Management ICs (PMICs) Market

The increasing emphasis on energy efficiency and conservation has led to a growing requirement for Power Management Integrated Circuits (PMICs) capable of enhancing the energy performance of various devices, including smartphones, laptops, and household appliances.

Restraints in the Global Power Management ICs (PMICs) Market

PMICs must adhere to diverse safety, efficiency, and emissions regulations and standards, contributing to increased costs and intricacies in the design and development of these integrated circuits. Meeting these regulatory requirements poses challenges that impact the overall landscape of PMIC manufacturing, emphasizing the importance of navigating these considerations in the pursuit of successful and compliant designs.

Market Trends of the Global Power Management ICs (PMICs) Market

The increasing demand for energy-efficient and high-performance electronics has led to a rising requirement for power management integrated circuits (ICs) capable of providing efficient power conversion, management, and control. Companies are actively working on the development of innovative power management ICs that not only ensure high efficiency but also boast features such as low standby power consumption and rapid response times.