Power Management IC Market size to reach a market value of USD 67.39 Billion, registering a CAGR of 9.1% from 2020 to 2030 (forecast period). The power management circuit has plenty of applications. Battery management and violate regulations are key purposes of the IC. The IC is a crucial component in many devices. Especially, consumer electronics use the IC. Smartphones, headsets, Bluetooth and medical equipment are some of the devices using it. There is high demand for the IC due to its power management features. Today, electricity costs are a major expenditure for many industries.
The rising energy cost is the driving factor of this market. The power management ic global market has demand from various industries. The IC is a circuit that can prevent devices from using high energy. It is a technology that limits power consumption. Low cost and power efficiency are factors that lead to market growth. Globally, the emissions from circuits and energy sources are high.
Several governments are taking initiatives to reduce carbon emissions globally. Due to this, the use of PMIC is prevalent in many regions. Further, the rising processing power in mobile devices makes the power management IC necessary. Renewable and fossil energy has more penetration. All these factors are leading to high market value in the forecast period.
COVID-19 is causing a decline in the semiconductor industry. There are both short-term and long-term effects on the Power Management IC Market. Semiconductor works in a very complex environment. They require many raw materials for assembly, test, packaging, and equipment suppliers and partners across the globe. Rising broadband use is affecting the Power Management IC’s Market positively.
Especially, increased demand for cloud services is another factor that brings a positive impact on the Power Management IC Market. The video streaming segment is predicted to drive up telecom and networking demand. Furthermore, COVID-19 is expected to enhance the demand for digital transformation. In the meantime in technologies such as 5G, IoT and AI are gaining traction. With the use of these technologies, there is more need for power management IC. Today, the new technologies are complex and consume high energy. The decline in capital expenditure will create a downfall in the Power Management IC Market. Still, due to the high demand, there is more scope as per Power Management IC’s Market Forecast.
Over the past few years, NOVOSENSE has also increased its investments in the supply chain, R&D, management process, and digitalization, providing customers with robust products and reliable services. By implementing Blue Yonder’s supply chain solution, NOVOSENSE can optimize supply, enhance customer service levels, and improve asset utilization.
NOVOSENSE Microelectronics develops robust & highly reliable analog and mixed-signal integrated circuit (IC) designs widely used in the industrial control, information communication, automotive, and consumer electronic industries. The company focuses on strengthening its supply chain, R&D, management process, and digitalization to enhance the quality & efficiency of the products delivered.
Rising demand for the power management IC in consumer electronics is a crucial market driver. There is demand from various verticals of the digital power management multichannel ic market. Still, consumer electronics is a prominent key player in the Power Management IC Market. Today, the miniature electronics trend is going strong. The miniaturizing of electronics is gaining more traction.
Especially, the wearable’s, smart devices and electronics have miniaturization. These miniature wearables have high poor consumption. Due to this, the need for power management IC is high. Increasing demand from the daily wearable will contribute to the highest revenue of this market. The rising demand from the communication sector is another demand-driven factor. Today, the need for wired and wireless applications is higher.
The parts such as ethernet switches, battery chargers, switches, routers, and enterprise networks are some of the communication devices. All these applications require power management IC. The communication sector witnesses rapid growth. Especially, the industrial applications of this industry are higher. The need for security cameras, SSD cards, routers, home assistant and voice control are rising. As per Power Management IC’s Market Analysis these factors are crucial demand drivers.
Power Management IC Market Growth opportunities are plenty in the forecast period. The use of the next-generation mobile network will create opportunities in the market. The growth of the 4 G and 5 G networks will fuel growth. The 5G infrastructure is becoming famous. The need for high-speed network connectivity is high.
The 5G networks and their infrastructure require effective power management. For high power-consuming power networks such as 5 G, the IC is the exceptional solution. Top mobile network companies will have more demand for the IC. All these factors will create a high expansion rate for the Power Management IC Market. Further, the growing number of small cells market will provide growth possibilities. The growing number of satellite communication is another factor leading to the growth. Demand from the integrated circuits will cause high growth opportunities for the market. The revenue rates will be higher for the power management IC market due to all these factors.
The complex design of the circuits is the restraining factor of the power management IC market. The power management circuits contain several parts. The design to save power is sophist coated. Due to this, the manufacture of the IC is a difficult process. The raw materials are also difficult to get. The outbreak of covid 19 is making the market scenario worse.
The production of the power management IC market is slowing down. There is plenty of trade restriction as well. In 2021 many countries stopped the purchase of these circuits. The power management IC market is facing a hard hit. The complexities in manufacturing are another factor leading to market downfall. All these restraints will impact the growth of the market.
There is plenty of substitute power management IC market. Today, every country has their power management circuit. There are no standard products in many regions. The availability of many substitutes may affect the growth of this market. Further, the substitutes are less expensive than the certified ones. Most of the users prefer the less expensive substitutes in the market.
Due to these substitutes, the demand can decline for the Power Management IC Market. There are plenty of new entries in the market. The entrance of local key players is another challenge in the market. The new entries can cause much more demand inconsistencies. All these factors are market challenges that may impede the power management IC market growth. The expansion of the market can slow down in the forecast period.
The Power Management IC’s Market Demand trends remain stable in the forecast period. Many factors contribute to market demand. Crucial drivers of the market are raising the manufacture of miniature electronics. The miniaturizing of electronics bring positive growth to the market.
The consumer electronics segment of the market holds the highest demand. Especially, regions such as the Asia Pacific are known as the largest electronics manufacturers. The demand from the communication sector is another crucial driver of the market. Further, the implementation of new 5G networks will bring more developments to the market. All these factors are expected to enhance Power Management IC Market revenue.
North America is the largest key player with the highest Power Management IC Market Share. It is an early adopter of electronic gadgets. The US is the key country in this market. There are key manufacturers of consumer electronics. There are smartphones, portable speakers, tablets and AI electronics that have high adoption.
More than 96% of households have any type of gadget. It is a region that has a higher demand for power management IC. Canada is another key contributor to this market. The investments from this region offer high growth. The high performance of the power management IC attracts many users.
On Nov. 01, 2022, Renesas Electronics Corporation, a leading supplier of advanced semiconductor solutions, launched an innovative automotive power management IC (PMIC), integrated RAA271082, for advanced automotive camera applications. The new ASIL B power management IC complements Renesas’ AHL technology and supports MCUs in safety-related applications.
The competition in the power management IC market is rising. There are plenty of key players in the market. Key players of the market are taking initiatives to develop the market. There are strategies in the market.
Market acquisitions, partnerships, expansions and mergers are some of the factors leading to growth. All these key strategies will happen in the next few years.
The regional players of the market are Asia Pacific, North America and Europe. North America is the early adopter of power management IC. US and Canada are key contributors to the market. Due to plenty of electronics manufacturers, there is high growth. The Asia Pacific is the next largest with the highest number of shares.
Asia pacific is the manufacturer of consumer electronics. Japan, India and China are countries that contribute more. Europe is another key contributor with high scope. The semiconductor industry and other markets have high demand. The Middle East is an emerging market. There is a high expansion of IC in these countries.
TSMC’s Open Innovation Platform (OIP) includes 3nm, 4nm, 5nm, and 7nm technologies, as well as specialty technologies. Silicon Topology has gained comprehensive experience in various areas, including power management IC, drivers IC, high-speed interface IPs, and memory design applications.
The key players of power management IC market are
|Market Size||USD 67.39 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||
The global power management IC market is projected to grow at approximately 9.1% CAGR during the assessment period (2020-2030).
The valuation of the global power management IC market is projected to increase to USD 67.39 billion by the end of 2030.
The Asia Pacific region is set to hold the highest market share in the global power management IC market.