ID: MRFR/SEM/3603-CR | February 2020 | Region: Global | 175 pages
Market Research Future (MRFR) projects the Global Power Management IC Market size to reach a market value of USD 46.15 Billion, registering a CAGR of 9.5% from 2019 to 2025 (forecast period). The market is powered by growing applications in various sectors such as automotive, consumer electronics, networking, telecommunications, etc. These components are gaining high traction due to numerous functions such as power management, interface, audio functions, battery management, and system control. The demand for these components is due to rising energy costs and government regulations. The feature of energy management decreases the power consumption in various device applications and encourages the growth of the industry. The growing demand for consumer electronics, such as smartphones, tablets, and smart TVs, promotes the implementation of these circuits for efficient power management. Moreover, the rising emphasis on limiting the use of electricity by electronics product manufacturers will drive the growth of the industry.
COVID-19 has caused the overall semiconductor sector to prepare rapidly and to make short-term decisions with long-term consequences. Semiconductor companies work in a complex ecosystem, working globally around the value chain with a wide variety of raw materials, assembly, test, package, and equipment suppliers and partners. The demand from telecom and networking is expected to rise due to factors such as increased broadband use, increased demand for cloud services, and video streaming. In addition, in the mid to long term, COVID-19 is expected to increase the need for digital transformation further, technologies like 5G, IoT, AI, and intelligent edge computing for future optimization. However, the decline in OEM production and the decrease in demand for mobile phones and other consumer electronics has marginally limited the power management integrated circuits market. In addition, declines in various capital expenditures and delays in various planned projects in various end-use industries have disrupted the global economy.
Increasing demand from consumer electronics to boost the market growth
Power management ICs are reportedly recording high demand across industry verticals, in particular consumer electronics. This demand is primarily due to the trend of miniaturizing electrical components for consumer electronics and wearables, which has led to an increasing need for superior power efficiency, high density, and flexibility in the design of power modules for compact devices. The electronics industry around the world is currently influenced by strict environmental and energy efficiency regulations, which have led to numerous developments, such as miniaturization and convergence of almost all electronic devices used on a daily basis. Device miniaturization is done, bearing in mind all input/output ports and numerous other components in the assembly that are essential to the end product. Miniaturization increased the need for integrated power for application-specific processors and subsystems. In addition, these components provide greater support to transform analog to digital designs and provide increased flexibility, smaller form factors, and enhanced efficiency for consumer electronics and wearables.
Expanding need for technically advanced manufacturing equipment to limit market growth
The complexity involved in the design and development of these circuits is the key factor hindering the power management integrated circuit market. The size of these components is compact, causing a complication in the fabrication process. These components are expensive due to the need for technically advanced manufacturing equipment. This equipment is costly, which requires high capital expenditure and restricts small businesses from entering the industry. The complex integration process for multi-power domain SOCs in circuits is another factor affecting the power management IC industry. This process involves the integration of different components into a chip that is complex and includes automated equipment. External factors, such as fluctuating raw material prices and trading policies, impede market development.
Global Power Management IC Market has been segmented into Products and Applications.
By product, the global PMIC market has been segmented into integrated ASSP power management IC, motor control ICs, and voltage regulators.
By application, the global PMIC market has been segmented into consumer and wearable electronics, automotive, telecom & networking, and industrial.
Globally, the power management integrated circuit market has been categorized as namely North America, Europe, Asia Pacific (APAC), and the rest of the world.
APAC to foster the global market
The Asia Pacific is projected to see rapid regional market growth. Rising disposable incomes and improving living standards, along with an increasingly aging population and health awareness, are some of the factors that spur the demand for consumer electronics, such as smartphones, tablets, and wearable devices. This, in turn, drives demand for power management ICs by the consumer electronics industry in emerging Asian economies such as Japan, China, and India. Increased demand for automotive, particularly passenger vehicles, coupled with the expanding industrial and retail sectors, will further boost the demand for these ICs in the APAC region. Nevertheless, due to the need for robust methodology and toolsets for implementation, the complex integration process for multi-power domain SOCs may limit power management IC market growth during the forecast period.
The global PMIC market is projected to have a moderate level of rivalry due to a large number of manufacturers. Countries like the United States, China, Japan, Singapore, and Taiwan have many fabrications units manufacturing PMICs and are considered industry influencers. Companies such as STMicroelectronics (Switzerland), NXP Semiconductors (Netherlands), Toshiba Corporation (Japan), Texas Instrument Incorporated (US), Analog Devices (Linear Technology) (US and Renesas Electric Corporation (Japan) have a large market share. In addition, other companies are investing in research and development to overcome the technical difficulties faced by ICs in high-power applications. In this regard, the rivalry between emerging players is expected to be moderate during the assessment period.
September 2019: Qualcomm Technologies Inc. has collaborated with Trimble Inc. to develop high-accuracy positioning solutions for connected vehicles. Qualcomm is going to combine Trimble's RTX technology with select Qualcomm Snapdragon Automotive 4G and 5G platforms, which is expected to provide extremely accurate positioning to maintain the lane position to improve advanced driver assistance systems (ADAS).
July 2019: Qualcomm Wireless Communications Technologies Limited (China), a subsidiary of Qualcomm Incorporated, has collaborated with Tencent Games to work on digital entertainment projects.
January 2019: Maxim Integrated unveiled MAX20004/6/8, MAX20034, and MAX20098—three buck converters and controllers. The three devices are small and provide higher efficiency that enables designers to solve the space constraints and power difficulties of next-generation automotive applications.
In addition to recent developments, this research report explores emerging industry dynamics related to demand, supply, and sales. Significant drivers, constraints, and opportunities have been covered to provide a complete picture of the market. The study provides in-depth information on technologies, patterns, and industry policies and regulations introduced in each geographical region. In addition, the overall regulatory framework of the market has been comprehensively covered to provide stakeholders with a clearer understanding of the main factors impacting the overall market climate.
|Market Size||USD 46.15 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Analog Devices Inc. (US), Infineon Technologies AG (Germany), NXP Semiconductors (The Netherlands), Qualcomm Technologies Inc (US), Maxim Integrated (US), ON Semiconductor Corporation (US), Toshiba Corporation (Japan), ROHM Company Ltd (Japan), Renesas Electronics Corporation (Japan), Mitsubishi Electric Corporation (Japan), Dialog Semiconductor (UK)|
|Key Market Opportunities||Increasing awareness among consumers and growing investments across different sectors.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global power management IC market is projected to grow at approximately 9.5% CAGR during the assessment period (2019 -2025).
The valuation of the global power management IC market is projected to increase to USD 25.17 billion by the end of 2025.
The Asia Pacific region is set to hold the highest market share in the global power management IC market.