Rising demand for automobiles coupled with increasing use of consumer electronics, across the globe to drive the power management integrated circuit market

The power management integrated circuit market is poised to touch US$ 55.06 Bn by 2030, growing at a CAGR of 6.5% during an estimated timeframe from 2023 to 2030 on a global scale. Growing adoption of energy-efficient consumer electronics, rising demand of smartphones & tablets, continuous expansion of automotive & industrial sectors and increasing use of battery-powered devices in telecommunication and healthcare sectors is projected to ensure continued growth for power management integrated circuit in the years to come. The complex integration process for multi-power domain SOCs of PMICs, high equipment cost, complicated installation process, and huge capital investments are few causes that might hamper the market progression of power management integrated circuit. 

Increasing demand for consumer electronics to drive growth prospects

Power Management Integrated circuits (PMICs) are the vital component and has become merely used in consumer products like tablets, television, computer & server system, industrial applications such as medical equipment, fitness equipment and portable instruments, and electronics devices requiring energy efficient power management solutions. Furthermore, global consumer products manufacturing companies are extensively collaborating with local partners to develop proprietary technology to enhance their businesses. For instance, in 2019, Procter & Gamble Co. invested around US$ 100 million for a digital innovation E-center in Singapore.

The consumer electronics has generated a sales revenue of around US$ 5.389 million, in 2020, thereby driving the demand for power management integrated circuit globally. In addition, the rising inclusion of electronic components in vehicles, rapid adoption of smartphones, and increasing number of battery control solutions enhanced the market over the forecast period. 

Asia Pacific to Dominate, North America to Witness Strong Growth

Asia-Pacific holds a market share of about 65% in the global power management IC market due to an increase in the number of original design manufacturers (ODM) and original equipment manufacturers (OEM). Increasing applications from automotive and consumer electronics are projected to boost the demand for power management integrated circuits over the forecast period. In addition, various government initiatives such as “Vision 2020” and “Make in India” are progressively drawing the attention of international players to set up local production units across the region. For instance, Integrated Device Technology has been acquired by Renesas Electronics Corporation, thereby will expand the company's system on a chip, advanced microcontroller, and power management ICs.

The increasing demand for energy-efficient electronic devices has expanded the market for power management integrated circuits (ICs) in North America.  Furthermore, the growing implementation of PMICs components in IoT technology and connected devices is supporting the industrial growth in North America. Development and investment for smart homes and cities, increasing adoption towards electronic gadgets by the U.S. government, have further spur out the demand for power management integrated circuits across the region.

Key Players & Competitive Landscape:

Some of the leading manufacturers profiled in the study include Texas Instruments Incorporated, Maxim Integrated Products Inc., ON Semiconductor Corp, Infineon Technologies AG, Mitsubishi Corp, Analog Devices, Inc., STMicroelectronics NV, Dialog Semiconductor PLC, Renesas Electronics Corporation and QUALCOMM, Inc. among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Power Management Integrated Circuit market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Power Management Integrated Circuit market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Power Management Integrated Circuit market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Power Management Integrated Circuit market?
• Which is the largest regional market for Power Management Integrated Circuit market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Power Management Integrated Circuit market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Power Management Integrated Circuit market worldwide?