Power Management IC Market Size, Growth, Share by 2031
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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Power Management IC Market: Strategic Insights
Market Size Value in US$ 37,772.0 million in 2021 Market Size Value by US$ 55,042.7 million by 2028 Growth rate CAGR of 5.5% from 2021 to 2028. Forecast Period 2021-2028 Base Year 2021
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Power Management IC Market: Strategic Insights
| Market Size Value in | US$ 37,772.0 million in 2021 |
| Market Size Value by | US$ 55,042.7 million by 2028 |
| Growth rate | CAGR of 5.5% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
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 Report Scope
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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, and End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, Israel, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, Taiwan, United Kingdom, United States
Frequently Asked Questions
The global power management IC market is expected to reach US$ 59.04 billion by 2031.
The deployment of the next-generation 5G network is anticipated to drive the market in the forecast period.
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.
The rising sales of consumer electronics products growing inclination toward electric vehicles are some of the factors driving the power management IC market.
North America is anticipated to dominate the power management IC market in 2023.
The expected CAGR of the power management IC market is 5.8%.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For