Market Synopsis
The power requirements of the host system are managed by the power management integrated circuits (PMIC). The compactness of the PMIC aids the application of these ICs in portable media players, mobile phones and other battery operated devices. The benefits provided by PMIC, such as efficient power conversion and heat dissipation, are increasing the rate of incorporation of PMIC in a wide range of devices.
Market Research Future (MRFR) has recently availed a detailed report asserting the global Power Management IC Market is anticipated project a steady CAGR of 7% during the forecast period of 2017-2023.
Market Drivers and Restraints:
The consumption and cost of energy had increased dramatically since past few years, inducing demand for energy-efficient devices. The growing demand for power saving electronic devices is increasing the application of power management IC in a wide range of products, which is acting as a major driving force for the expansion of the global power management IC market. The rapid progress in smart grid technology, the inclination of the urban population towards smart homes, increased usage of portable devices such as tablets and smart phones, increasing processing time on computing are some of the important factors that are increasing the demand for PMIC in the market, leading to the expansion of the global power management IC market. The rapid development of automotive industry is increasing the application of PMIC in hybrid electric vehicles extensively, which is fueling the growth of the power management IC, globally.
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The increasing investment of governments of different countries in research and development for building smart cities that include the application of advanced technology is generating demand for energy conservation, leading to the increased adoption of power management IC in different sectors. This rise is demand is projecting a positive impact on the growth of the global power management IC market. Along with these, the rise in awareness for energy harvesting solutions, increased application of LED (light emitting diodes) and the rise in the number of data centers are some other vital factors driving the global power management IC market.
However, the complex integration process of the multi-power domain (SOC) of PMIC is likely to act as a restraint to the expansion of the global power management IC market.
Key Players
Some of the key players in the market are Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Analog Devices, Inc. (U.S.), Dialog Semiconductor PLC (U.K.), Maxim Integrated Products, Inc. (U.S.), STMicroelectronics N.V. (Switzerland), and Linear Technology Corp. (U.S.), Renesas Electronics Corporation (Japan), Toshiba Corporation (Japan), among others.
Segmentation
The global power management IC market is segmented on the basis of product, application and region. Based on the product, the market is classified into voltage regulators, motor control ICs, integrated ASSP power management ICs, battery management ICs, and others. Of these, power management ASICs is further sub-segmented as energy management ICs, wireless charging ICs, power factor correction controllers, LED driver ICs, battery charging & management ICs, Hot-swap controllers, and power-over-ethernet (PoE) controllers. The applications of the power management IC are found in automotive, consumer electronics, industries, telecom & networking, wearables and others.
Increasing electrification in vehicles such as hybrid and electric vehicles, is energizing the market for power management ICs in vehicles. Staying connected via smartphones and tablets is the modern way of life and to this end, today’s car drivers are opting for Bluetooth, cellular technologies, and other telematics functions. All these features require semiconductors to distribute and control power through vehicles. Intermediate safety milestones such as automatic emergency braking (AEB) is necessary to a road system that will accommodate self-driving cars. Other factors driving the market for power management ICs are the need for more fuel-efficient systems, a higher proportion of electric vehicles, and more electronic content per vehicle as required for improved vehicle emission levels.
Regional Analysis:
The global power management IC market is led by Asia Pacific. The robust demand in this region from automotive industries may influence the global power management IC market growth. However, growing applications in the consumer electronics for power management ICs is expected to propel the growth of the market for power management IC market in next few years. The second-best growth is shown by North America due to booming automobile sector along with a number of semiconductor factories being based in the U.S.
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Intended Audience
- Component Manufacturers
- Electronic design automation
- Original equipment manufacturers
- Technology investors
- Research institutes & organizations
- Product manufacturers
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