Power Management IC Market Size Worth $55,042.7 Million, Globally, by 2028 at 5.5% CAGR - Exclusive Report by The Insight Partners

- The Power Management IC Market Size is driven by demand for high degree automation, demand for battery-powered devices and automotive and transportation sector. The voltage regulators segment led the market with a market share of 29.5% in 2020; it is expected to garner 27.4% share by 2028. The consumer electronics segment led the global market with a share of 28.3% in 2020; it is expected to garner 26.1% share by 2028.

NEW YORK, Jan. 11, 2022 /PRNewswire/ -- According to the new market research report "Power Management IC Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Voltage Regulators, Motor Control, Battery Management, Multi-Channel ICs, and Others) and End Use (Consumer Electronics, Automotive, Healthcare, IT & Telecom, Industrial, and Others)", published by The Insight Partners, the global power management IC market is expected to grow from US$ 37,772.0 million in 2021 to US$ 55,042.7 million by 2028; it is estimated to grow at a CAGR of 5.5% during 2021–2028.

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Power Management IC Market: Competitive Landscape and Key Developments

NXP Semiconductors; Analog Devices, Inc.; Infineon Technologies AG; Rohm Co., Ltd.; Microchip Technology Inc.; Vishay Intertechnology, Inc.; Renesas Electronics Corporation; STMicroelectronics; Texas Instruments Incorporated; and Qorvo, Inc. are among the key players that are profiled during this market study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the global power management IC market and its ecosystem.

As a part of product portfolio expansion with respect to driver monitoring camera processors, Renesas launched a safe seven-channel power management integrated circuit (PMIC), which promises to reduce system cost, power loss, and design time.

In August 2021, Renesas Electronics Corporation's new solution for in-vehicle infotainment includes a combination of Dialog's PMIC and CMIC with Renesas' automotive R-Car SoCs, timing ICs, and buck regulators.

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Power management ICs are responsible for controlling the direction and flow of electric power. These PMICs find significant application across various industrial verticals, such as telecom and networking, consumer electronics, and automotive and transportation. Demand for numerous consumer electronics goods, such as mobile phones, laptops, notebooks, personal computers, television sets, washing machines, refrigerators, and air conditioners, is increasing globally, which is anticipated to drive the demand for integrated PMICs, high power PMICs, and monolithic PMICs.

The automotive and transportation sector contributes to the growing demand for Power Management IC Market. Advanced driver assistance systems (ADAS), vehicle infotainment, navigation system, battery management, telematics, and automotive clusters require high-efficiency power management ICs. Government subsidies, incentives, and tax exemptions are boosting the sales of electric vehicles globally. Such encouragement from government authorities, along with stringent emission norms accelerates the demand for electric vehicles and respective power management ICs. With the rapid advancement in the Internet of Things (IoT) technology, connected devices tend to rise remarkably in the coming years.

The impact of COVID-19 differed from country to country across Europe, as selected countries experienced an increase in COVID-19 cases and subsequently attracted strict and more extended lockdown periods or social isolation. Countries such as Germany, Italy, the UK, Russia, France, and Turkey were the most affected by various restrictions and limitations. The European automotive industry was severely impacted and experienced a decline of over 20% in overall automotive production due to stringent supply chain disruption caused by imposed lockdowns. The automotive industry is one of the largest markets for power management ICs. However, with the increasing demand for electric vehicles in the region, the outlook post-COVID-19-pandemic for the automotive industry seems favorable. With decreased income levels, buyers opted to purchase necessities, such as household goods and groceries instead of non-essential, big-ticket purchases such as home theaters and LCD TVs. Other sectors that deploy power management ICs, such as electric/electronics, manufacturing & construction, and telecommunication network, also experienced a weak demand.

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Surge in Demand for Battery-Powered Devices to Propel Power Management IC Market Growth:

The usage of battery-powered devices is rising in various developing countries with increasing urbanization. A few portable battery-operated devices are camcorders, cameras, medical instruments, personal digital assistants, power tools, and portable GPS. 14-channel power management integrated circuit finds significant use across wireless audio, voice recognition assistant, AV receivers, and sound bars. A smart power-management integrated circuit is widely used across camera modules, optical modules, and solid-state drives (SSDs). In 2020, 2.3 million units of DSLR cameras were shipped across the world. Rising shipments of DSLR cameras would create the need for PMICs. In 2020, Renesas Electronics Corporation introduced ISL78083, a power management IC for multiple HD camera modules. In addition, the use of highly integrated PMIC is growing considerably in various portable medical devices. Since Nordic nPM1100 power management ICs offer an extremely compact form factor, its requirement is escalating for numerous connected medical devices. The adoption of such battery-operated devices will drive the growth of power management ICs.

Power Management IC Market: Voltage Regulators Overview

A voltage regulator is a circuit that produces and maintains a constant output voltage, regardless of input voltage or load conditions. The voltages from a power source are kept within a range that is compatible with the other electrical components by voltage regulators (VRs). While voltage regulators are typically used to convert DC to DC power, some may also convert AC to AC or AC to DC power. Voltage regulators are utilized in cost-sensitive, noise-sensitive, low-current, and space-constrained end users such as consumer electronics. A linear regulator might be used in a hearing aid because it doesn't include a switching element that could emit unwanted noise and interfere with the device's performance. A few of the major providers of voltage regulators are ROHM CO., LTD. and Rhopoint Components.

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Browse Adjoining Reports:

Power Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware, Software, Services); Module (Power Monitoring and Control, Load Shedding and Management, Energy Cost Accounting, Switching and Safety Management, Power Simulator, Generator Controls, Others); End-user (Oil and Gas, Marine, Chemicals and Petrochemicals, Pharmaceuticals, Paper and Pulp, Metals and Mining, Utilities, Data Centers, Others) and Geography

Smartphone Power Management IC Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Price (Premium Range, Medium Range, Low Range); Functions (Battery Management, Charging Functions, Others) and Geography

Radiation-Hardened Electronics Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component (Power Management, Application-Specific Integrated Circuit (ASIC), Memory, Field-Programmable Gate Array (FPGA)); Manufacturing Technique (Radiation Hardening by Design (RHBD), Radiation Hardening by Process (RHBP)); Application (Aerospace and Defense, Nuclear Power Plant, Others) and Geography

Digital Power Management Multichannel IC Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Voltage Regulator, Motor Control IC, Power Management IC, Battery Management IC, Others); Application (Automotive, Consumer Electronics, Industrial, Telecom and Networking, Others) and Geography

Power Management Integrated Circuit Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product Type (Voltage Regulator, Motor Control IC, Integrated ASSP PMIC, Battery Management IC, Others); End-Use (Building Control, Consumer Electronics, Healthcare, Automotive, Wearable Electronics, Others) and Geography

Voltage Regulators Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Ferroresonant, Tap-switching); Phase (Single Phase, Three Phase); End-Use (Residential, Industrial, Commercial) and Geography

Battery Management System Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Battery Type (Lithium Ion, Lead Acid, Nickel, Flow Batteries, Others); Connectivity (Centralized, Distributed, Modular, Automotive); End user (Marine, IT and Telecom, Energy and Power, Specialty Vehicle and Off Highway Vehicle, Others, Others) and Geography

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