Digital Power Management Multi-Channel IC Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $35,109 million by 2022, registering a CAGR of 16.3% during the period 2016-2022.
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Digital power management multi-channel ICs are vital part of electronic devices which provide power management to internal electronic parts. The global digital power management multi-channel IC market is poised to witness significant growth during the forecast period. In 2015, Asia-Pacific dominated the market and contributed more than 41% of the overall market revenue, followed by North America. Presence of key market players in the U.S. and Asia-Pacific, rapid industrialization, primarily in manufacturing sectors, and increase in demand for high-performance devices have fueled the growth of digital power management multichannel IC market. However, complexity with integration of ICs for wide range of applications is one of the key restraint of the market.
Voltage regulators segment dominated the market, accounting for about 27% of the overall market share in 2015, owing to their increase in requirement for various functions, such as step-up, step-down, and voltage inverting. However, battery management IC segment is expected to register a CAGR of 16.4%, and is projected to demonstrate significant growth during the forecast period due to increased demand for small and low-cost products with a long battery life. Moreover, effective battery management has become increasingly important, as portable applications extend into more industries.
Although, Asia-Pacific contributed toward the maximum revenue share in 2015, North America is expected to show high CAGR during the forecast period. This is attributed to various factors, including increase in demand for electronic products and numerous government initiatives. Moreover, development in digital power management multichannel IC technologies has fueled the market growth in Asian countries, particularly in China, Japan, and India.
Asia-Pacific is projected to show highest growth rate throughout the analysis period. The surge in manufacturing industry activities and increased expenditures in Japan and India, to cater to the exponential growth for emerging consumer electronics have boosted the growth. Technological advancements for cost-effective digital power management multichannel IC in these nations offer lucrative opportunity for the market.
Key findings of the Digital Power Management Multi-Channel IC Market
- The consumer electronics application led the overall market revenue in 2015, and is projected to grow at a CAGR of 16.6%.
- Automotive application segment is expected to exhibit rapid growth during the forecast period.
- In 2015, Asia-Pacific led the global market, however, North America is expected to show the highest CAGR.
- In 2015, China led the overall Asia-Pacific market with about one-third of the market share.
Key players adopted acquisition and product launch as their prominent strategies to expand their business operations in the emerging countries. The major players profiled in this report include STMicroelectronics N.V. (Switzerland), Texas Instruments Inc. (U.S.), Maxim Integrated Products, Inc. (U.S.), Renesas Electronics Corp. (Japan), Analog Devices, Inc. (U.S.), Dialog Semiconductor Plc. (UK), NXP Semiconductors (Netherlands), ON Semiconductor Corporation (U.S.), Qualcomm, Inc. (U.S.), and Linear Technology Corporation (U.S.).