Power Management IC Market Growth Drivers and Forecast by 2031

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

Power Management IC Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: 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), and Geography

  • Report Date : Sep 2025
  • Report Code : TIPRE00016997
  • Category : Electronics and Semiconductor
  • Status : Data Released
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

The power management IC market size is projected to reach US$ 59.04 billion by 2031 from US$ 37.73 billion in 2023. The market is expected to register a CAGR of 5.8% during 2023–2031. The rising sales of consumer electronics products and growing inclination toward electric vehicles are likely to be the key drivers and trends of the market.

Power Management IC Market Analysis

The power management IC market is experiencing significant growth globally. This growth is attributed to the rising sales of consumer electronics products growing inclination toward electric vehicles. Moreover, increasing demand for battery-powered devices and deployment of next-generation 5G networks is anticipated to hold several opportunities for the market in the coming years.

Power Management IC Market Overview

Power management integrated circuits (PMICs), which integrate multiple voltage regulators and control circuits into a single chip, are excellent options for implementing complete power supply solutions. They reduce component count and board space while easily and cost-effectively managing system power.

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Power Management IC Market: Strategic Insights

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Power Management IC Market Drivers and Opportunities

Increasing Sales of Consumer Electronics Products to Favor Market

Consumer electronics, such as smartphones, tablets, smart glasses, virtual reality headsets, smartwatches, and fitness wristbands, are becoming increasingly popular among consumers. These devices serve various purposes, including activity tracking and health monitoring. The demand for consumer electronics drives the need for power management ICs. The application areas of wearable devices are expanding beyond consumer electronics to include medical devices and wireless communication devices. In the medical sector, there is significant growth potential for the power management IC market in wearable medical devices and wireless healthcare monitoring systems as the sector undergoes a technological transformation.

Increasing Demand for Battery Powered Devices.

The increasing demand for battery-powered devices is anticipated to hold several opportunities for the market in the coming years. Devices such as cell phones, cell phone battery charging cases, laptops, cameras, smartphones, electronics, data loggers, PDAs containing lithium batteries, games, tablets, watches, etc. Devices containing lithium metal or lithium-ion batteries (laptops, smartphones, tablets, etc.) These devices need to maximize their energy to extend battery life. PMICs are essential in optimizing power distribution and reducing energy wastage.

Power Management IC Market Report Segmentation Analysis

Key segments that contributed to the derivation of the power management IC market analysis are product type and end-use.

  • Based on product type, the power management IC market is divided into voltage regulators, motor control, battery management, multi-channel ICs, and others. The voltage regulators segment is anticipated to hold a significant market share in the forecast period.
  • Based on end use, the power management IC market is divided into consumer electronics, automotive, healthcare, it & telecom, industrial, and others. The consumer electronics segment is anticipated to hold a significant market share in the forecast period.

Power Management IC Market Share Analysis by Geography

The geographic scope of the power management IC market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the power management IC market. High technology adoption trends in various industries in the North American region have fuelled the growth of the power management IC market. Factors such as increased adoption of digital tools, high technological spending by government agencies, rising sales of consumer electronics products, and growing inclination toward electric vehicles are expected to drive the North American power management IC market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has many power management IC market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the power management IC market.

Power Management IC Market Regional Insights

The regional trends and factors influencing the Power Management IC Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Power Management IC Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

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Power Management IC Market Report Scope

Report Attribute Details
Market size in 2023 US$ 37.73 Billion
Market Size by 2031 US$ 59.04 Billion
Global CAGR (2023 - 2031) 5.8%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Product Type
  • Voltage Regulators
  • Motor Control
  • Battery Management
  • Multi-Channel ICs
By End Use
  • Consumer Electronics
  • Automotive
  • Healthcare
  • IT & Telecom
  • Industrial
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • NXP Semiconductors
  • Analog Devices Inc.
  • Infineon Technologies AG
  • ROHM CO, Ltd
  • Microchip Technology Inc.
  • Vishay Intertechnology, Inc.
  • Renesas Electronics Corporation
  • STMicroelectronics
  • Texas Instruments Incorporated
  • Qorvo, Inc.

  • Power Management IC Market Players Density: Understanding Its Impact on Business Dynamics

    The Power Management IC Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Power Management IC Market are:

    1. NXP Semiconductors
    2. Analog Devices Inc.
    3. Infineon Technologies AG
    4. ROHM CO, Ltd
    5. Microchip Technology Inc.
    6. Vishay Intertechnology, Inc.

    Disclaimer: The companies listed above are not ranked in any particular order.


    power-management-ic-market-cagr

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    Power Management IC Market News and Recent Developments

    The power management IC market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the power management IC market are listed below:

    • Nordic Semiconductor announced the launch of its nPM1300 PMIC (power management integrated circuit). With its two buck converters, two load switches/low drop-out voltage converters (LDOs), and integrated battery charging, the nPM1300 is ideal for battery-operated applications. (Source: Nordic Semiconductor Company Website, June 2023)
    • Magnachip Semiconductor Corporation announced that the company has launched its first Power Management Integrated Circuit (PMIC) for IT devices equipped with OLED screens. (Source: Magnachip Semiconductor Corporation Company Website/November 2023)

    Power Management IC Market Report Coverage and Deliverables

    The “Power Management IC Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Power management IC market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
    • Power management IC market trends as well as market dynamics such as drivers, restraints, and key opportunities.
    • Detailed PEST/Porter’s Five Forces and SWOT analysis.
    • Power management IC market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the power management IC market.
    • Detailed company profiles.

    Frequently Asked Questions

    What would be the estimated value of the power management IC market by 2031?

    The global power management IC market is expected to reach US$ 59.04 billion by 2031.

    What are the future trends of the power management IC market?

    The deployment of the next-generation 5G network is anticipated to drive the market in the forecast period.

    Which are the leading players operating in the power management IC market?

    The key players holding majority shares in the global power management IC market are NXP Semiconductors, Analog Devices Inc., Infineon Technologies AG, ROHM CO, Ltd, Microchip Technology Inc., Vishay Intertechnology, Inc., Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated. Qorvo, Inc.

    What are the driving factors impacting the power management IC market?

    The rising sales of consumer electronics products growing inclination toward electric vehicles are some of the factors driving the power management IC market.

    Which region dominated the power management IC market in 2023?

    North America is anticipated to dominate the power management IC market in 2023.

    What is the expected CAGR of the power management IC market?

    The expected CAGR of the power management IC market is 5.8%.

    Naveen Chittaragi
    Naveen Chittaragi
    Associate Vice President,
    Market Research & Consulting

    Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

    Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

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