Power Management Integrated Circuits Market

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 IC, integrated ASSP power management IC, and motor control IC. 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, growth of the PMIC market is directly related to the growth in consumer electronics (primarily smart phones) and automobile sectors. Among all the drivers mentioned above, smart phones play a crucial role in the increased demand for PMIC. The sales of smart phone are expected to achieve its 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 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 system 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 to stakeholders to decide primarily, which market segments to focus on the next two to five years. PMIC manufacturers need to focus on enabling processes to reduce the size and increase the performance for multifunctional power management ICs, by selecting an appropriate line of action, prioritizing, and aligning their efforts & investments.

The power management integrated circuits market is segmented on the basis of product type, end use, and region. By product type, the market is segmented into voltage regulators, motor control ICs, integrated ASSP power management ICs, battery management ICs, and others. By end use, 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 rest of Europe. The countries covered under Asia-Pacific include China, India, Japan, South Korea, and rest of Asia-Pacific. LAMEA includes Latin America, The Middle East, and Africa.

COVID-19 Impact

COVID-19 has caused the overall semiconductor industry to mobilize quickly and to make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers and partners, globally. 

The demand from the telecom and networking segment is expected to increase due to factors such as increased broadband usage, higher demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to further push up the need for digital transformation, technologies such as 5G, the IoT, AI, and intelligent edge computing for future optimization.

However, slowdown in productions by OEMs and reduction in demand for mobile phones and other consumer electronics has slightly pulled down the market for power management integrated circuits. Shortages of critical components and materials have significantly impacted the global supply chains. In addition, reductions in various capital budgets and delay in various planned projects in various end-use industries have hampered the global economy.

Top Impacting Factors

The significant impacting factors in the power management integrated circuits market include increase in application domains of PMICs, technological advancements, 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 is expected to hinder the market growth. Conversely, multifunctional features for PMIC-embedded application devices and growth in 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.

Key Benefits For Stakeholders

• This study comprises 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 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 the 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 Report Highlights