Overview and ScopeThe power management IC market consists of sales of discrete power management components such as buck converters, boost converters, buck-boost converters, and power distribution switches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and ForecastThe power management IC market size has grown strongly in recent years. It will grow from $31.60 billion in 2023 to $33.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to electric vehicle (EV) growth, the growth of the Internet of Things (IoT), the increasing popularity of wearable devices, the expansion of smart home devices and systems, and rising industrial automation and robotics.
The power management IC market size is expected to see strong growth in the next few years. It will grow to $44.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to advancements in semiconductor technology, growth in consumer electronics, increased battery life requirements, renewable energy integration, and the expansion of telecommunications networks. Major trends in the forecast period include sustainability and green technology, smart grid and renewable energy integration, wireless charging solutions, advanced battery management systems (BMS), integration of artificial intelligence, and machine learning.
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Segmentation & Regional InsightsThe power management ic market covered in this report is segmented –
1) By Product: Voltage Regulators, Linear Voltage Regulators, DC Regulators, Motor Control ICs, Integrated ASSPs Power Management ICs, Battery Management ICs, Other Products2) By Function: Digital, Analog3) By Operating Range: 1µA To 1mA, 1.1mA To 1A, 1a To 10A, 10.1A To 25A, 25.1A To 100A, Above 100A4) By Application type: Linear Regulators, Reset ICs (Voltage Detectors), Light Emitting Diode (LED) Controllers, DC-DC Convertors (Switching Regulators), Switch ICs, Other Applications5) By End Users: Consumer Electronics, Automotive, Information Technology And Telecommunication, Healthcare, Industrial, Power And Energy, Aerospace And Defence, Other End Users
North America was the largest region in the power management IC market in 2023. The regions covered in the power management ic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market GrowthThe growing adoption of electric vehicles (EVs) is expected to propel the growth of the power management IC market going forward. Electric vehicles (EVs) are vehicles powered by electric motors using energy stored in rechargeable batteries, offering a sustainable alternative to traditional internal combustion engine vehicles. The growing adoption of electric vehicles (EVs) is due to their environmental benefits, technological advancements, and increasing infrastructure support for charging stations. Power management ICs in electric vehicles (EVs) optimize battery usage, manage power distribution, and enhance overall energy efficiency. They ensure reliable performance and prolong battery life. For instance, in July 2023, according to the Internal Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of that year, a 25% increase from the same period last year. By the end of 2023, sales are expected to reach 14 million, representing a 35% year-on-year increase, with growth accelerating in the second half of the year. Therefore, the growing adoption of electric vehicles (EVs) is driving the growth of the power management IC market.
Key Industry PlayersMajor companies operating in the power management ic market are Qualocomm Technologies Inc., Texas Instruments Inc., MediaTek Inc., STMicroelectronics NV, Infineon Technologies AG, Renesas Electronics Corp., Analog Devices Inc., Toshiba Electronic Devices And Storage Corp., NXP Semiconductors NV, Microchip Technology Inc., Vishay Intertechnology Inc., ON Semiconductor Corp., Diodes Inc., Monolithic Power Systems Inc., Silicon Laboratories Inc., Allegro MicroSystems Inc., Nordic Semiconductor, Semtech Corp., Power Integrations Inc., Vicor Corp., ABLIC Inc., Shanghai Belling Co .Ltd., Rohm Co. Ltd., Rantle East Electronic Trading Co.
The power management ic market report table of contents includes:
1. Executive Summary2. Market Characteristics3. Market Trends And Strategies4. Impact Of COVID-195. Market Size And Growth6. Segmentation7. Regional And Country Analysis...27. Competitive Landscape And Company Profiles28. Key Mergers And Acquisitions29. Future Outlook and Potential Analysis
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Market SynopsisThe power requirements of the host system are managed by the power management integrated circuits (PMIC).
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.The global Power Management IC Market is expected reach a valuation of USD 38,388.9 Mn by the year 2023, reflecting a CAGR of 8.8% during the forecast period (2018-2023).Market Drivers and Restraints:The consumption and cost of energy had increased dramatically since past few years, inducing demand for energy-efficient devices.
The 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.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/5038The 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.
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.Key PlayersSome 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.Market Segmentation:The global power management IC market has been segmented on the basis of product and application.
The power management ASIC/ASSP segment is anticipated to dominate the global market during the forecast period owing to the increased use of these products in smart phones, laptops, tablets, and other portable devices.
The market is estimated to grow from USD 20.09 Billion in 2015 to USD 34.86 Billion by 2022, at a CAGR of 8.08% from 2016 to 2022.
The objective of the report is to provide a detailed analysis of the market based on product, application, and geography; information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges); and detailed value chain and Porter’s five forces analysis.
In addition, its objective is to strategically profile the key players and comprehensively analyze their market ranking and core competencies, along with detailing the competitive landscape for market player, and new product launches, acquisitions, expansions, partnerships, agreements, and contracts in the PMIC market.The market, on the basis of application, has been further segmented into automotive, wearable electronics, consumer electronics, healthcare, building control, and industry & retail.
The consumer electronics application held the largest market share of the global PMIC market in 2015.
The power management ICs are used in a variety of consumer electronic devices such as smartphones, tablets, wireless audio devices, laptops, portable navigation systems, and digital cameras among others.
The PMICs are being replaced with the conventional use of voltage regulators in electronic devices such as laptops since they are available as a multi-chip-package.
Global Power Management IC (PMIC) Market: Trending in 2021 New York, NY 3 June 2021: The Power Management IC (PMIC) Market is anticipated to reach USD 58.4 billion by 2026, according to a new research published by Polaris Market Research.
Additionally, the increasing adoption of energy harvesting equipment, and advancements in next generation mobile networks such as 3G, 4G, and 5G would boost market growth during the forecast period.
Increasing adoption of data centers, development of Big Data and IoT technologies, and increasing demand for consumer electronics further boosts the market growth.
Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/power-management-ic-market/request-for-sample Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global power management integrated circuits market throughout the forecast period.
The increasing penetration of electric vehicles, and growing applications in the automotive sector supports the market growth in this segment.
The rapid penetration of IoT devices, rising adoption of data centers, advancements in next generation mobile networks such as 3G, 4G, and 5G further fuels the growth of the market.
