Power Management IC Market
Growth Factors of Power Management IC Market
The power management IC market size was valued at USD 37.16 billion in 2023, and the market is now projected to grow from USD 39.39 billion in 2024 to USD 64.80 billion by 2032, exhibiting a CAGR of 6.4% during the forecast period of 2023-2030.
The COVID-19 pandemic has affected the power management IC market growth in several ways such as disruption of its supply chain and reduced demand across many industries. Communication and information industries have been worst affected by factory shutdowns, especially semiconductors and electronics industries. This was compounded by the reduced number of consumers’ expenditures that greatly affected the markets creating big problems. This led to a decline in the rate of production and aggregate economic growth as well.
Smartphones, tablets, wearable devices and IoT devices are leading to significant adoption of efficient power management IC market share. These integrated circuits are small chips that affect battery life, how they get charged or discharged and control power in new-age devices. Advanced PMICs ensure precise voltage control and effective power delivery in devices such as modern smartphones and IoT appliances, fueling market expansion.
Furthermore, the integration of advanced features in power management ICs (PMICs) is set to fuel the market. Modern electronic devices demand PMICs that efficiently manage multiple functions in compact spaces. Facilities for fast charging in PMICs such as charging rebalancing, charging termination, fast charging switchover and other features have become essential to support portable products such as smartphones and portable electronics. This trend underlines the necessity of using highly effective systems of power management in the sphere.
Comprehensive Analysis of Power Management IC Market
The power management IC market, along with the semiconductor and electronics industry, is rapidly expanding due to the effects of market segmentation. This expansion includes comprehensive regional assessments, analyzing key supply and demand dynamics that influence the industry's overall performance. These segmentations are methodically segregated by product types of devices and by end users. The product types include, Product Type Voltage Regulators, Battery Management ICs, Motor Control ICs, Multi-channel ICs, and Others. Although, the end users such as hospitals and AC-DC and DC-DC.
North America dominates the power management IC market, driven by its strong semiconductor industry, technological advancements and key manufacturers. The region's leadership spans consumer electronics, automotive, industrial automation and telecommunications. Initiatives in renewable energy and smart grid technologies further boost demand for efficient power management solutions. Regulatory support and significant research and development investments continue to fuel market growth in the region.
The top players in the market play a crucial role in the semiconductor & electronics industry assuring industrial prospectus growth and setting market standards. These players include, Texas Instruments Incorporated (U.S.), Analog Devices, Inc. (U.S.), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), Semiconductor Components Industries, LLC (U.S.), Evelta Electronics (India), Renesas Electronics Corporation (Japan), NXP Semiconductors (Netherlands), Microchip Technology Inc. (U.S.) and ROHM CO., LTD. (Japan) these market players provide a level-playing competitive landscape.
In May 2024, Nanjing SemiDrive Technology Ltd., a leading Chinese manufacturer of SoCs for smart vehicle interiors, teamed up with ROHM to develop a smart cockpit reference design. These designs are SemiDrive’s X9E and X9M automotive SoCs, ROHM’s PMICs, LED driver ICs, SerDes ICs, and other elements. The reference setup includes three primary boards: They include the Core Board, SerDes Board and the Display Board.
Segmentation Table
Global Power Management IC Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 6.4 % from 2024 to 2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Product, Application, and Region
By Product Type • Voltage Regulators
- Battery Management ICs
- Motor Control ICs
- Multi-channel ICs
- Others
By End- User • Consumer Electronics
- Automotive
- Industrial
- Telecommunication
- Healthcare
- Others
By Power Source • AC- DC
By Region • North America (By Product Type, By End-user, By Power Source, and By Country)
- U.S. (End-user)
- Canada (End-user)
- Mexico (End-user)
- South America (By Product Type, By End-user, By Power Source, and By Country)
- Brazil (End-user)
- Argentina (End-user)
- Rest of South America
- Europe (By Product Type, By End-user, By Power Source, and By Country)
- U.K. (End-user)
- Germany (End-user)
- France (End-user)
- Italy (End-user)
- Spain (End-user)
- Russia (End-user)
- Benelux (End-user)
- Nordics (End-user)
- Rest of Europe
- Middle East and Africa (By Product, Application, and Country)
- Turkey (End-user)
- Israel (End-user)
- GCC (End-user)
- South Africa (End-user)
- North Africa (End-user)
- Rest of the Middle East & Africa
- Asia Pacific (By Product Type, By End-user, By Power Source, and By Country)
- China (End-user)
- India (End-user)
- Japan (End-user)
- South Korea (End-user)
- ASEAN (End-user)
- Oceanic (End-user)
- Rest of Asia Pacific
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