Power Management IC Market Share & Growth | Forecast 2028

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Power Management IC Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Voltage Regulators, Motor Control, Battery Management, Multi-Channel ICs, and Others) and End Use (Consumer Electronics, Automotive, Healthcare, IT & Telecom, Industrial, and Others)

Publication Month: Dec 2021 | Report Code: TIPRE00016997 | No. of Pages: 158 | Category: Electronics and Semiconductor | Status: Published

The power management IC market is expected to grow from US$ 37,772.0 million in 2021 to US$ 55,042.7 million by 2028; it is estimated to grow at a CAGR of 5.5% during 2021–2028.

The usage of battery-powered devices, such as camcorders, cameras, medical instruments, personal digital assistants, power tools, and portable GPS, is rising in various developing countries with increasing urbanization. 14-channel power management integrated circuit find significant uses across wireless audio, voice recognition assistant, AV receivers, and sound bars. A smart power-management integrated circuit is widely used across camera modules, optical modules, and solid-state drives (SSDs). In 2020, 2.3 million units of DSLR cameras were shipped across the world. Rising shipments of DSLR cameras would create the need for PMICs. In 2020, Renesas Electronics Corporation introduced ISL78083, a power management IC for multiple HD camera modules. In addition, the use of highly integrated PMIC is growing considerably in various portable medical devices. Since Nordic nPM1100 power management ICs offer an extremely compact form factor, their requirement is growing for various connected medical devices. As per estimations, more than 190 million healthcare IoT devices will be installed globally by the end of 2025. Shipment of connected hearing devices is anticipated to be over 95 million units by 2023, which would create lucrative scope for programmable power management ICs designed for ultra-low-power wearable applications. Thus, the high demand for hearing devices further drives the power management IC market growth.

 

Strategic Insights

Report Coverage - Power Management IC Market
Report CoverageDetails
Market Size Value inUS$ 37,772.0 million in 2021
Market Size Value byUS$ 55,042.7 million by 2028
Growth rateCAGR of 5.5% from 2021 to 2028.
Forecast Period2021-2028
Base Year2021
No. of Pages158
No. of Tables52
No. of Charts & Figures67
Historical data availableYes
Segments coveredProduct Type, and End Use
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Power Management IC Market

The impact of COVID-19 differed from country to country across Europe, as selected countries experienced an increase in COVID-19 cases and subsequently attracted strict and more extended lockdown periods or social isolation. Countries such as Germany, Italy, the UK, Russia, France, and Turkey were the most affected by various restrictions and limitations. The European automotive industry was severely affected and experienced a decline of over 20% in overall automotive production due to stringent supply chain disruption caused by imposed lockdowns. The automotive industry is one of the largest market for power management ICs. However, with the increasing demand for electric vehicles in the region, the outlook post-COVID-19-pandemic for the automotive industry seems favorable. With decreased income levels, buyers opted to purchase necessities, such as household goods and groceries, instead of non-essential, big-ticket purchases, such as home theaters and LCD TVs. Other sectors that deploy power management ICs such as electric/electronics, manufacturing & construction, and telecommunication network, also experienced a weak demand. The COVID-19 pandemic has compelled manufacturers to streamline their production processes to tackle unexpected disruptions and resolve uncertain challenges, such as physical distancing. Considering increasing vaccination drives, the demand is expected to rise by the end of 2022, with companies investing in making operations more productive and efficient.

Lucrative Regions for Power Management IC Market

Lucrative Regions for Power Management IC Market

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Power Management IC Market Insights

Deployment of Next Generation 5G Network

With growing investments, the 5G network is expanding globally. The 5G network requires high density and high-efficiency power management ICs, DC-to-DC converter modules, and ultralow noise linear regulators, including power sequencing, monitoring, and protection. With a surge in internet access and mobile data traffic, investments in 5G network are growing substantially. Samsung is planning to bring 5G to next-generation vehicles with the latest additions to the Exynos Auto series. The plan is supported by S2VPS01, an extra-safe power management IC for vehicles. Sterlite Technologies Ltd., Tech Mahindra, and state-run ITI Ltd are a few Indian companies contributing their expertise to the development of 5G infrastructure. In June 2021, telecom giant Reliance's Jio announced its partnership with the US chipset maker Qualcomm for manufacturing critical equipment for the 5G ecosystem in India. Thus, increasing internet penetration and data traffic, along with growing investments in the 5G sector, would fuel the growth of the global power management IC market during the forecast period.

Product Type-Based Market Insights

Based on product type, the power management IC market is segmented into voltage regulators, motor control, battery management, multi-channel ICs, and others. The voltage regulators segment dominated the market in 2020. Voltage regulators are utilized in cost-sensitive, noise-sensitive, low-current, and space-constrained end-uses. A few of the major providers of voltage regulators are ROHM CO., LTD. and Rhopoint Components.

End Use-Based Market Insights

Based on end use, the power management IC market is segmented into consumer electronics, automotive, healthcare, IT & telecom, industrial, and others. The consumer electronics segment held the largest share of the market in 2020. The demand for high-efficiency and compact form factor integrated circuits for space-constrained applications is at an all-time high due to the growing demand for compact electronics such as wearables and hearing devices.

Players operating in the power management IC market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In 2021, NXP is introducing a stripped down i.MX8 processor with added security for V2X vehicle communication systems and industrial IoT applications. In this processor, there is an optional PMIC chip to manage peripherals, such as a cellular modem.
  • In 2021, as a part of product portfolio expansion with respect to driver monitoring camera processor, Renesas launched a safe seven-channel power management integrated circuit (PMIC), which promises to reduce system cost, power loss, and design time.

The global power management IC market is segmented based on product type and end use. The market, based on product type, is segmented into voltage regulators, motor control, battery management, multi-channel ICs, and others. Based on end use, the market is categorized into consumer electronics, automotive, healthcare, IT & telecom, industrial, and others. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, UK, Russia, and the Rest of Europe), Asia Pacific (China, Taiwan, South Korea, Japan, and the Rest of APAC), Middle East & Africa (South Africa, Israel, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).

NXP Semiconductors; Analog Devices, Inc.; Infineon Technologies AG; Rohm Co., Ltd.; Microchip Technology Inc.; Vishay Intertechnology, Inc.; Renesas Electronics Corporation; STMicroelectronics; Texas Instruments Incorporated; and Qorvo, Inc. are the key players profiled during power management IC market study. In addition, several other significant power management IC makers are studied and analyzed during the course of power management IC market research study to get a holistic view of the global power management IC market and its ecosystem.

Frequently Asked Questions

In the growing demand for power management ICs, automotive and transportation is one of the major contributing sector Advanced driver assistance systems (ADAS), vehicle infotainment, navigation system, battery management, telematics, and automotive clusters require high efficiency power management ICs. Government subsidies, incentives and tax exemptions are boosting the sales of electric vehicles all over the world. Such encouragement from government authorities along with stringent emission norms accelerates the demand for electric vehicles and respective power management ICs. With rapid advancement in internet of things (IoT) technology, count of connect devices is going to rise remarkably in coming years. Crucial features such as maintenance-free operation and low energy consumption drives the demand for various wearable.
Usage of battery powered devices is rising substantially in various developing countries with increasing urbanization. A few portable battery-operated devices are camcorders, cameras, medical instruments, personal digital assistants, power tools, and portable GPS. For various audio and video applications, 14-channel power management integrated circuit find significant use across wireless audio, voice recognition assistant, A/V receivers, and sound bars. Smart power-management integrated circuit is widely used across camera module, optical module, and solid state drives (SSDs). A total of about 2.3 million units of DSLR cameras were shipped across the world in 2020. Rising shipments of DSLR cameras would create need for respective PMICs used in cameras in the coming years. In 2020, Renesas Electronics Corporation introduced ISL78083, a power management IC for multiple HD camera modules. In addition, the use of highly integrated PMIC is growing considerably in various portable medical devices. Since Nordic nPM1100 power management ICs offers an extremely compact form factor, their requirement is growing for various connected medical devices. As per estimations, more than 190 million healthcare IoT devices will be installed across the world by the end of 2025. Shipment of connected ear-worn devices is anticipated to be over 95 million units by 2023, which would create lucrative scope for programmable power management ICs specifically designed for ultra-low-power wearable applications. Thus, high demand for ear-worn devices further drives the market growth.
Based on product type, power management IC market is segmented into voltage regulators, motor control, battery management, multi-channel ICs, and others. The voltage regulators segment led the power management IC market with a market share of 29.5% in 2020. Further, it is expected to garner 27.4% share by 2028. A voltage regulator is a circuit that produces and maintains a constant output voltage regardless of input voltage or load conditions. The voltages from a power source are kept within a range that is compatible with the other electrical components by voltage regulators (VRs). While voltage regulators are most typically used to convert DC to DC power, some may also convert AC to AC or AC to DC. Voltage regulators are utilised in cost-sensitive, noise-sensitive, low-current, and space-constrained end-uses. Consumer electronics, such as headphones, wearables, and Internet-of-Things (IoT) devices, are examples. A linear regulator, for example, might be used in a hearing aid because it doesn't include a switching element that could emit unwanted noise and interfere with the device's performance. Some of the major providers of voltage regulators are ROHM CO., LTD., Rhopoint Components, among others.
Based on end-use, the power management IC market is segmented into consumer electronics, automotive, healthcare, IT & telecom, industrial, and others. The consumer electronics segment led the power management IC market with a share of 28.3% in 2020. Further, it is expected to garner 26.1% share by 2028. The demand for high-efficiency and compact form factor integrated circuits for space-constrained applications is at an all-time high, owing to the growing demand for compact electronics such as wearables and hearing devices. This is exactly what power management integrated circuits (ICs) do. Power management integrated circuits provide the ability to control the flow and direction of electrical power, as well as various power conversion capabilities, making them ideal for battery-powered devices like portable media players and mobile phones. Furthermore, power management ICs aid in the efficient use of power and the extension of the life of tiny electronic devices. As a result of the massive increase in demand for handheld electronic devices, power management ICs are seeing an increase in demand.
North America region is a quick adopter of all the latest technological advancements in the electronics and semiconductor industry. Major countries in the North America region like the United States, Canada and Mexico find wide use of power management ICs across numerous sectors such as telecommunication, networking, Industrial, automotive, transportation, aerospace, consumer electronics etc. Most of the countries in the Asia Pacific region are still in developing state. However with growing disposable income, demand for vehicles and consumer electronics products is anticipated to rise substantially in various countries such as India, Bangladesh, Malaysia, China, Philippines etc. This drives the requirement for power management ICs needed in electric vehicles, laptops, personal computers, tablets, notebooks, wearable, smart watches etc.
With growing investments, 5G network is expanding notably across the world. 5G networks require high density and high efficiency power management ICs; DC-to-DC converter modules; ultralow noise linear regulators, including power sequencing, monitoring, and protection. With increase in internet penetration and mobile data traffic, investments in 5G network are growing substantially. Samsung is planning to bring 5G to next generation vehicles with the latest additions to the Exynos Auto series. The plan is supported by S2VPS01, an extra-safe power management IC for vehicles. Sterlite Technologies Ltd., Tech Mahindra, and state-run ITI Ltd are among the Indian companies contributing their expertise for the development of 5G infrastructure. In June 2021, telecom giant Reliance's Jio announced its partnership with US chipset maker Qualcomm for manufacturing critical equipment for the 5G ecosystem in India. Thus, increasing internet penetration and data traffic along with growing investments in the 5G sector would fuel the growth of the global power management IC market during the forecast period.

The List of companies - Power management IC market

  1. NXP Semiconductors
  2. Analog Devices, Inc.
  3. Infineon Technologies AG
  4. ROHM CO., Ltd.
  5. Microchip Technology Inc.
  6. Vishay Intertechnology, Inc.
  7. Renesas Electronics Corporation
  8. STMicroelectronics
  9. Texas Instruments Incorporated
  10. Qorvo, Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global power management IC market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global power management IC market, thereby allowing players across the value chain to develop effective long-term strategies
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  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
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