Power Management Integrated Circuits Market Outlook - 2027
The global power management integrated circuits market size was valued at $33.96 billion in 2019 and expected to reach $51.04 billion by 2027, growing at a CAGR of 5.3% from 2020 to 2027.
PMIC stands for power management integrated circuits. These electronic components provide highly integrated, high-performance power management solutions for a wide range of application categories such as automotive, consumer electronics, and telecommunication & networking. PMICs offer optimum integration solutions because of its operating features such as power management, system control, battery management, interface & audio functions, as well as other system-specific functions.
Currently, a wide range of PMICs are being used. Some frequently used ICs include voltage regulators, battery management ICs, integrated ASSP power management ICs, and motor control ICs. Assembled with high-performance process technologies, PMICs offer high-efficiency solutions that are designed to extend the battery life and reduce power dissipation.
Rise in technological advancements and increase in demand for battery-operated devices are the major drivers for the power management integrated circuits market globally. Moreover, the growth of the PMIC market is directly related to the growth in consumer electronics (primarily smartphones) and automobile sectors. Among all the drivers mentioned above, smartphones play a crucial role in the increased demand for power management ic. The sales of smartphones are expected to reach their peak in the next few years.
The deployment of various next-generation mobile networks such as 4G and 5G are the key factors that boost the power management integrated circuits market growth globally. In addition, increased adoption of data centers, growth in the light emitting diode market, energy harvesting solutions, renewable energy market & smart grids, and extensive use of PMICs in hybrid electric vehicles are some of the key drivers of the power management integrated circuits industry.
However, a complex integration process for multi-power domain systems on a chip (SOC) of PMICs is a major factor that hinders the power management integrated circuits market growth. For example, multi-voltage SOCs require robust methodology and toolsets for implementation, which is why a proper tool for an analog and digital part is a crucial factor.
The power management integrated circuits market report provides a valuable and in-depth overview of the ecosystem of this market, which includes product manufacturers & suppliers, original equipment manufacturers (OEMs), assembly, testing, and packaging players, fabless players, and chipset manufacturers. The research study provides a pathway for stakeholders to decide primarily, which market segments to focus on in the next two to five years. Power management ic manufacturers need to focus on enabling processes to reduce the size and increase the performance of multifunctional power management ICs, by selecting an appropriate line of action, prioritizing, and aligning their efforts & investments.
Key Takeaways
- The global power management integrated circuits market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
- More than 1,500 product literature, industry releases, annual reports, and other such documents of major market industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.
Power Management Integrated Circuits Market Segment Review
The power management integrated circuits market is segmented on the basis of product type, end-use, and region.
By product type, the power management integrated circuits market is segmented into voltage regulators, motor control ICs, integrated ASSP power management ICs, battery management ICs, and others.
By end user, it is segmented into automotive and transportation, consumer electronics, industrial, telecom & networking, and others.
By region, the global power management integrated circuits market is divided into North America, Europe, Asia-Pacific, and LAMEA. North America is further segmented into the U.S., Mexico, and Canada. Europe is further segmented into the UK, Germany, Italy, France, and the rest of Europe. The countries covered under Asia-Pacific include China, India, Japan, South Korea, and the rest of Asia-Pacific. LAMEA includes Latin America, The Middle East, and Africa.
By Product Type
Battery Management IC segment is projected as one of the most lucrative segments.
Key Market Dynamics
With increasing energy costs and a growing focus on sustainability, there is a strong demand for energy-efficient solutions across various sectors, including consumer electronics, automotive, and industrial applications. PMICs help optimize power usage, contributing to energy savings and sustainability goalsConsumer Electronics**: The proliferation of consumer electronic devices, such as smartphones, tablets, and wearable technology, is a major driver for the power management integrated circuits market. These devices require efficient power management to enhance battery life and performance. The proliferation of consumer electronic devices, such as smartphones, tablets, and wearable technology, is a major driver for the power management ic market. These devices require efficient power management to enhance battery life and performance.
Regional/Country Market Outlook
North America: North America dominates the power management ic market, driven by advanced technological adoption and a robust consumer electronics sector. The region's focus on electric vehicles and renewable energy solutions significantly boosts the demand for PMICs. Major players, including Texas Instruments and Analog Devices, are actively innovating to meet the growing market needs. The U.S. is also witnessing increasing investments in smart grid technologies, further enhancing PMIC adoption.
Asia-Pacific: The Asia-Pacific region is experiencing rapid growth in the power management integrated circuits market, fueled by the expanding consumer electronics and automotive industries. Countries such as China, Japan, and South Korea are at the forefront of PMIC innovation, driven by a high demand for smartphones, IoT devices, and electric vehicles. The presence of major semiconductor manufacturers in this region, such as Samsung and NXP Semiconductors, contributes to the region's robust market growth.
Europe: The European power management ic market is characterized by stringent energy efficiency regulations and a strong automotive industry focus, particularly in electric vehicles. Countries like Germany and France are leading the charge, with significant investments in automotive technology and renewable energy solutions. The EU's commitment to reducing carbon emissions is driving the development of advanced PMICs to support sustainable energy consumption in various applications.
Latin America & Middle East: In Latin America, the power management ic market is gradually expanding, primarily due to increasing investments in consumer electronics and automotive sectors. Brazil and Mexico are key markets, with growing interest in energy-efficient technologies. However, the market faces challenges, including economic instability and regulatory hurdles that may impact growth. The power management icmarket in the Middle East and Africa is still developing, with an increasing focus on energy efficiency and smart city initiatives. The region's investments in renewable energy and smart infrastructure are expected to drive the demand for PMICs in the coming years. However, challenges such as a lack of advanced manufacturing facilities and political instability could hinder growth.
By End Use
Automotive and Transportation segment is expected to secure leading position during forecast period.
Top Impacting Factors
The significant impacting factors in the power management integrated circuits market include an increase in application domains of PMICs, technological advancements, a rise in demand for battery-operated devices, and growing sales of consumer electronics and automotive. However, challenges poised to develop multi-power domain SOC of PMICs are expected to hinder the market growth. Conversely, multifunctional features for PMIC-embedded application devices and growth in the semiconductor industry and semiconductor applications are projected to offer remunerative opportunities to the power management integrated circuits market. Each of these factors is anticipated to have a definite impact on the power management integrated circuits industry during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major power management integrated circuits market players, such as Texas Instruments Inc., ON Semiconductor Corp., Analog Devices Inc., Dialog Semiconductor PLC, Maxim Integrated Products Inc., NXP Semiconductors, Infineon Technologies AG, Mitsubishi Group, Renesas Electronics Corporation, and STMicroelectronics N.V. are provided in this report. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their power management integrated circuits market penetration.
By Geography
Asia-Pacific region would exhibit the highest CAGR of 6.3% during 2020-2027
Report Coverage & Deliverables
This report delivers in-depth insights into the power management integrated circuits market by product type, and end use, region, and key strategies employed by major players. It offers detailed power management integrated circuits market forecasts and emerging trends.
Product Type Insights
These devices are essential for providing a constant output voltage despite variations in input voltage or load conditions. They are favored in applications where low noise and simplicity are required, such as in consumer electronics and automotive systems**: DC/DC converters are crucial for converting voltage levels efficiently, making them vital for battery-powered devices, electric vehicles, and industrial applications. The increasing demand for energy-efficient solutions is driving the growth of this segment.
End-use Insights
The automotive sector is a significant contributor to the PMIC market, driven by the transition towards electric vehicles and the integration of advanced driver-assistance systems (ADAS). PMICs are essential for managing power in electric drivetrains, infotainment systems, and safety features. In industrial applications, PMICs are utilized for automation systems, robotics, and power supply management. The push for Industry 4.0 and increased automation is propelling the adoption of PMICs in this sector.
Regional Insights
North America leads the PMIC market due to its advanced technological ecosystem and significant investments in research and development. The United States is home to major semiconductor manufacturers such as Texas Instruments and Analog Devices. The growing adoption of electric vehicles (EVs) and renewable energy solutions is expected to further enhance the demand for PMICs in the region. The automotive industry's shift towards electrification is a key driver, with PMICs being crucial for power management in electric drivetrains and smart systems. The Asia-Pacific region is experiencing the fastest growth in the power management integrated circuits market, driven by the increasing production of consumer electronics and electric vehicles. China, Japan, and South Korea are significant players, with their strong emphasis on technological advancement and high demand for power-efficient solutions. The proliferation of IoT devices and smart appliances is also boosting the market. Local semiconductor manufacturers are investing heavily in developing advanced PMIC technologies to cater to this growing demand.
Key Strategies and Developments
- In 2023 - Infineon Technologies introduced new 2-channel MOTIX gate driver ICs designed for battery-operated devices, such as drones and cordless power tools.
- In 2023 - ROHM launched the BM3G0xXMUV-LB series in August 2023. This series features power stage ICs combining 650V GaN HEMTs with gate drivers, aimed at applications in industrial and consumer sectors, enhancing power conversion efficiency.
Key Benefits For Stakeholders
- This study comprises an analytical depiction of the global power management integrated circuits market share along with the current trends and future estimations to depict the imminent investment pockets.
- The overall power management integrated circuits market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The power management integrated circuits market forecast is quantitatively analyzed from 2020 to 2027 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
- The report includes power management integrated circuits market trends and share of key vendors.
Power Management Integrated Circuits Market, by Product Type Report Highlights
| Aspects | Details |
 By Product Type |
|
 By End Use |
|
 By Region |
|
 Key Market Players | DIALOG SEMICONDUCTOR PLC., ON SEMICONDUCTOR CORPORATION, ANALOG DEVICES, INC., MITSUBISHI GROUP, RENESAS ELECTRONICS CORPORATION, INFINEON TECHNOLOGIES AG, STMICROELECTRONICS N.V., MAXIM INTEGRATED PRODUCTS INC., NXP SEMICONDUCTOR, TEXAS INSTRUENTS, INC. |
Analyst Review
The power management integrated circuits market is growing continuously and its contribution to the global market will increase significantly by 2027. Cost-effectiveness, high operating efficiency, and multifunctional features of PMICs are expected to create massive market opportunities for this market in future. Smart phones/tablets/PCs enable the PMIC technology to reach a wider segment of the audience.
Continuously increasing population and consumer disposable income will support this to an extent. New product development is one of the key strategies adopted by major players who operate in the world PMICs market. Countries such as China and India are expected to have great market opportunities in future.
The PMICs market is expected to grow drastically in Asia-Pacific and Africa. As the disposable income of the population of China, Indonesia, and India is increasing, this leads to an increase in the sales of smart phones in these countries. Furthermore, in Africa, the usage rate of smart phones is currently lower, but in future it is expected to show huge demand.
Chinese panel makers will become stronger in the coming years and hence the need of PMICs for such applications will also increase. The sales of semiconductors and embedded devices are expected to grow in countries such as India, China, and Taiwan. Highly efficient low power consumption devices will show drastic growth in the coming years. As the use of PMICs is crucial in these devices, the same will be favorable for the global PMICs market in future. Solid state drive (SSD) is one of the rapidly growing markets. Intel and Toshiba are some of the key players that operate in this market. The insulated-gate bipolar transistor (IGBT) market is also expected to grow rapidly in the coming years.
The global power management integrated circuits market was valued at $33.96 billion in 2019 and is projected to reach $51.04 billion by 2027, growing at a CAGR of 5.3% from 2020 to 2027.
The power management integrated circuits (PMIC) market encompasses electronic components that provide integrated, high-performance power management solutions across various applications, including automotive, consumer electronics, and telecommunications.
Key players in the PMIC market include Texas Instruments Inc., ON Semiconductor Corp., Analog Devices Inc., Dialog Semiconductor PLC, Maxim Integrated Products Inc., NXP Semiconductors, Infineon Technologies AG, Mitsubishi Group, Renesas Electronics Corporation, and STMicroelectronics N.V.
In 2019, the Asia-Pacific region dominated the global PMIC market, with China leading in market share.
The PMIC market is driven by technological advancements, increased demand for battery-operated devices, growth in consumer electronics (especially smartphones), and the deployment of next-generation mobile networks like 4G and 5G.
A significant challenge in the PMIC market is the complex integration process required for multi-power domain systems on a chip (SoC), necessitating robust methodologies and toolsets for effective implementation.
Loading Table Of Content...
