Power Management Integrated Circuit (IC) Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

Power Management Integrated Circuit (IC) Market size is predicted to showcase commendable expansion during the forecast period of 2023-2032 as the demand for battery-operated devices has risen considerably in recent years. The sales of consumer electronic devices are growing at a steady rate every year.
 

According to November 2022 data by the U.S. Census Bureau, the country’s retail e-commerce sales for Q3 of 2022 stood at USD 265.9 billion, displaying a growth of 3% as compared to Q2 of the same year. The ever-expanding automobile sector is another factor that will boost the industry progress over the coming years.
 

The penetration of smartphones and connected devices is increasing across developed and developing economies. In 2021, around 474 million Europeans had subscribed to mobile services. This figure is projected to increase to 480 million by 2025. This scenario has accelerated the deployment of various next-gen mobile networks, such as 4G and 5G, further bolstering power management integrated circuit (IC) market growth.
 

However, the various complexities involved in the integration process for multi-power domain systems on power management IC chips may hamper the industry forecast.
 

Based on product, power management integrated circuit (IC) market is divided into motor control ICs, low voltage regulators, integrated ASSP power management ICs, and other devices. The industry size from the low voltage regulator segment is anticipated to record a notable CAGR through 2032. These regulators are finding major use in lighting operations, data processing, and automation. They ensure a consistent output of voltage irrespective of fluctuations in the input supply.
 

This feature prevents electronic devices from damage, overheating, and other dangers, thereby enhancing their efficiency and life expectancy. The sales of smartwatches, smartphones, and other devices are growing at an appreciable rate. In 2021, almost 88% of the U.K. citizens owned a smartphone. This factor may contribute to power management IC market expansion as these circuits facilitate effective power management, thereby improving the battery life of electronic devices.
 

In terms of end-user, global power management integrated circuit (IC) industry is segmented into consumer electronics, automotive, telecom & networking, and others. The automotive sector is set to capture a sizeable market share during the analysis timeframe as these products form a vital part of many portable devices, such as navigation systems in vehicles.
 

ICs can integrate portable electronics with a car’s stereo systems by using a USB cable or plug-in cradle. This improves the features of automobile information & entertainment systems by using applications, such as screen support and power audio interfaces with the help of power management ICs. These advantages will fuel the market development.
 

Asia Pacific power management integrated circuit (IC) market may record significant growth in its revenue during the forecast timeline as the region has a high concentration of ODMs and OEMs. Besides, there is a robust demand for power management semiconductor ICs in consumer electronics and automotive applications, which is estimated to drive the deployment of power management ICs in the forthcoming years.
 

Governments across the region are taking important measures to boost the production of smartphones and related components, such as semiconductors. For instance, in December 2022, the Government of China developed a USD 143 billion support package for its semiconductor sector to make the country self-reliant in chip production. These initiatives may strengthen the regional industry potential.
 

Some of the prominent companies operating in global power management integrated circuit (IC) market include Texas Instruments Incorporated, Infineon Technologies AG, Analog Devices Inc., Mitsubishi Group, Maxim Integrated (acquired by Analog Devices Inc.), and Renesas Electronics Corp, amongst several others. These organizations are implementing various strategic practices, such as collaborations, acquisitions, mergers, and new product launches to gain a competitive edge in the global market.
 

For example, in September 2021, Analog Devices Inc. announced the launch of its MAX77659 single-inductor multiple output (SIMO) power management IC that has an integrated switch-mode buck-boost charger. The IC claims to charge hearables, wearables, and IoT devices 4 times faster than other ICs.
 

The Russia-Ukraine war had an adverse impact on power management integrated circuit (IC) industry outlook as it caused several supply chain disruptions for the countries’ semiconductor sector. This scenario may have also played a role in worsening the chip shortage that has troubled various nations for quite some time, thereby dampening the market progress.
 

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