Power Management IC Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4127
Power Management Integrated Circuit (IC) Market size would depict commendable gains over 2021-2027, driven by a significant rise in technological advancements and increase in the demand for battery-operated devices. Moreover, the growth in the market is also touted to come from escalating consumer electronics sales and expanding automobile sector.
Furthermore, increasing penetration of smartphones and deployment of various next-gen mobile networks like 4G and 5G are some of the key factors bolstering the global market growth.
Power management ICs offer highly integrated, high-performance power management solutions for an expansive range of application categories such as consumer electronics, automotive, and telecommunication and networking. These components are known to provide optimum integration solutions owing to their superior operating features including system control, interface and audio functions, power management, and other system specific functions.
However, the complex integration process for multi-power domain systems on a chip of power management ICs is touted to be a major challenge for the industry growth.
The market is characterized by a voltage regulator segment. This can be ascribed to the product’s rising utility in data processing, lighting operations, and automation. These components ensure a constant output of voltage irrespective of fluctuations in the input supply. Additionally, the feature prevents electronic devices from overheating, damaging, and more, thus augmenting life expectancy and efficiency. Rising penetration of smartphones, smartwatches, and other devices is expected to provide ample growth opportunities for market. The circuits support in overcoming the challenges by effective management of power, offering improved battery life in electronic devices.
The automotive sector is slated to emerge as a remunerative segment for the global market as these products are used in various automobiles for a host of portable devices including navigation devices. Apart from core functions, the ICs help in integrating portable electronics with vehicle stereo systems using a plug-in cradle or USB cable. This facilitates in improving the features of automobile information and entertainment systems by means of integrating applications like power audio interfaces and screen support via power management ICs.
Asia Pacific would emerge as the largest growth contributor for power management IC market, primarily due to the high concentration of OEMs and ODMs. Besides, the mounting demand for power management semiconductor ICs in consumer electronics and automotive applications in the continent is estimated to drive the demand for power management ICs over the forecast period. Growing initiatives across various economies, including Make in India by the Indian government and Vision 2020 by the Chinese government, are drawing attention from global players to establish local production establishments. These factors are predominantly fostering the growth curve of market across APAC region.
Key players operating in the global market are Texas Instruments Incorporated, Analog Devices Inc., Infineon Technologies AG, Renesas Electronics Corp, Mitsubishi Group, and Maxim Integrated, amongst others. These companies are engaged in various strategic practices like acquisitions, collaborations, and mergers, to gain a competitive edge in the global market.
COVID-19 impact on power management IC market progression
The global semiconductor industry is witnessing a downfall over 2020, given the outbreak of COVID-19 mainly attributed to the shortage of semiconductor chips. This has had a negative impact on power management ICs demand. Moreover, a significant decrease in the production of consumer electronics because of the lockdown restrictions would further affect the market in the coming years.
The market research report of power management integrated circuit (IC) includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2021 to 2027 for the following segments:
Market, By Product Type
- Low voltage regulator
- Motor control ICs
- Integrated ASSP power management IC
Market, By End User
- Consumer electronics
- Telecom and networking
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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