Global Power Management Integrated Circuits Market to expand at a CAGR of 5.5% by 2030

Introduction

Power management integrated circuits are denoted by the acronym PMIC. These electrical components offer highly integrated, high-performance power management solutions for various applications, including automotive, consumer electronics, and telecommunications & networking. PMICs give the most effective integration options because of their operational features, such as power management, system control, battery management, interface & audio operations, and other system-specific activities. There is a variety of PMICs now in use. Commonly used ICs include voltage regulators, battery management ICs, integrated ASSP power management ICs, and motor control ICs. PMICs, constructed utilizing high-performance manufacturing techniques, offer high-efficiency solutions to extend battery life and reduce power dissipation.

Market Dynamics

The Development of Technology and the Rise in the Need for Battery-Operated Gadgets Plus an Increase in the Sales of Cars and Consumer Gadgets to Drive the Global Power Management Integrated Circuits, Market

It is anticipated that the market for PMICs will change due to rapid technological advancements and robust growth in the electronics industry. The global demand for PMICs has expanded due to technological advances in electronic devices. The need for high-speed communication network infrastructure is fueled by the recent advent of smartphones with greater functionality: fourth-generation (4G) and fifth-generation (5G) mobile telecommunications services fuel the smartphone market. As smartphones are connected with PMICs, the smartphone industry's growth will ultimately assist the PMICs industry. In addition, a battery is one of the essential components of a portable electronic gadget. Estimates indicate that the market for PMICs will expand faster than electronic devices.

During the forecast period, the PMIC market is also expected to be driven by an increase in consumer electronics and automobile sales and a significant increase in demand for power management integrated circuits in these applications. The manufacturing and automotive industries are two of the major end-users of PMICs. In industrial and automotive applications, PMICs are widely used as direct-to-direct (DC to DC) current converters. They are ideal for usage in the automotive sector in applications such as monitoring the power supply and power management system, instrument clusters, body control modules, and advanced driver assistance systems (ADAS). These PMICs have a low standby current requirement and can provide a consistent output across an extensive input voltage range. Additionally, consumer electronics are predicted to drive the global market for PMICs. PMICs are utilized in electrical products since they offer highly efficient methods for reducing power dissipation and extending battery life.

Increased in Application Areas to Create Global Power Management Integrated Circuits Market Opportunities

The primary purpose of the PMIC in any electronic device is to regulate voltage and current requirements. PMICs may have components such as voltage regulation, DC-to-DC current converters, and battery management. The market for PMICs is anticipated to expand in the coming years due to the high system flexibility, low costs, little space needs, and increased PMIC applications. As a result of growing technological developments and new product development in electronic items, an increasing number of electronic gadgets are entering the market. The arrival of the Apple Watch Series 6 serves as evidence of this. Power supply management becomes a necessity for the continued operation of these devices. The characteristics of PMICs make feasible robust, more durable, and cost-effective power management systems, which are expected to generate enormous demand and growth opportunities for the PMIC market.

Regional Insights

The Asia Pacific will command the market with the largest share, expanding at a CAGR of 6.5% during the forecast period. China, India, South Korea, Japan, and Taiwan are the leading Asian economies impacting PMICs and PMIC-embedded devices. China holds the largest market share for PMICs in the Asia-Pacific region, followed by Japan and India. In addition, the presence of multiple significant electronic equipment producers significantly contributes to the region's economic growth. Moreover, the increased use of electric and hybrid vehicles would increase the need for PMICs in this region. In 2020, the Chinese government issued three national recommendations regarding the safety criteria for batteries in electronic vehicles and their thermal diffusion, mechanical shock, external fire, overcharge, and overtemperature protection. To comply with these standards, manufacturers must utilize a variety of PMIC types for various purposes. Consequently, the market for PMICs is anticipated to increase significantly in demand in the following years.

In 2019, Panasonic Corporation and Ritsumeikan University developed a battery management technology by inventing a new battery monitoring IC (BMIC) test chip that measures the electrochemical impedance of multi-cell stacked lithium-ion batteries. BMIC has applications in LSVs (Low-Speed Vehicles), construction and logistics equipment, and electric motorbikes. Such substantial regional changes accelerate the growth of the PMICs market during the forecast period. Moreover, the ongoing development of the Internet of Things (IoT) in India is a significant factor in the growth of the PMICs market over the forecast period. Demand for energy-efficient devices increased disposable income and expanding technological awareness all contribute to India's substantial increase in IoT device usage.

North America is expected to advance at a CAGR of 4.41% and hold USD 14,892 million by 2030. The market for PMICs integrated products in North America is anticipated to be driven by an increase in industrialization, a growth in the production of durable consumer electronics, and a developing automobile sector. In North America, the market for PMICs is primarily driven by their application in the automotive/transportation, electronic durables, and industrial markets. The demand for portable electronic gadgets in North America is also anticipated to rise during the prediction. In 2020, Samsung US introduced the first all-in-one power ICs for wireless earbuds. This new PMIC integrates multiple separate components into a single chip, allowing more compelling designs to improve battery life. Similar developments are anticipated for consumer electronics in the region, enhancing the market expansion potential for PMICs.

Key Highlights

• The global power management integrated circuits market had a revenue holding of USD 37,323 million in 2021. It is expected to reach USD 60,430 million by 2030, growing at a CAGR of 5.5% during the forecast period (2022-2030).

• Based on the product type, the voltage regulators segment is predicted to hold the largest market share, expanding at a CAGR of 5%.
• Based on the end-user, the automotive & transportation section is predicted to grow at a CAGR of 5.9% and hold the largest market share.
• Based on regional analysis, the Asia Pacific will command the market with the largest share, expanding at a CAGR of 6.5%. 

Competitive Players

Competitive Players in the Market

• Texas Instruments Inc.
• ON Semiconductor Corp.
• Analog devises Inc.
• Dialog Semiconductor PLC
• Maxim Integrated Products Inc.
• NXP Semiconductors
• Infineon Technologies AG
• Mitsubishi Group
• Renesas Electronics Corporation
• STMicroelectronics NV.

Recent Developments

Market News

• In 2022, NXP Semiconductors announced the new MCX portfolio of microcontrollers designed to advance innovation in smart homes, smart factories, smart cities, and other industries and IoT applications.
• In 2022, NXP Semiconductors launched two new processor families that extend the benefits of NXP's innovative S32 automotive platform, S32Z, and S32E.
• In 2022, Infineon Technologies and pmdtechnologies to develop 3D depth-sensing technology called Magic Leap 2.

Segmentation

Global Power Management Integrated Circuits Market: Segmentation

By product type

• Voltage Regulators
• Linear Voltage Regulators
• DC/DC Regulators
• Motor Control IC
• Integrated ASSP Power Management IC
• Battery Management IC
• Other Power Management IC

By end-use

• Automotive & Transportation
• Consumer Electronics
• Industrial
• Telecom & Networking
• Others

By region 

• North America
• Europe
• Asia-Pacific
• LAMEA