The latest report by IMARC Group, titled “Power Management IC Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global power management IC market size reached US$ 28.5 Billion in 2021. A power management integrated circuit (PMIC) is a set of combined microchips that manages the flow of energy between capacitors and transistors in electronic devices. It is utilized in battery-operated electronics, such as wearable devices, healthcare equipment, smartphones, and portable media players. It also helps ensure the reliable, efficient, safe, and compliant function of electrical distribution systems, including the assets connected to them. In addition, these systems perform several operating functions, including system control, audio and interface functions, power, and battery management. As a result, PMIC is widely adopted in computing devices across the electronics, automotive, communication, and healthcare sectors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Power Management IC Market Trends:
The market is primarily driven by the escalating demand for battery-operated portable devices such as tablets, laptops, and smartphones. In addition, the expanding telecommunication sector, the rising inclination toward electronics and the increasing demand for energy-efficient products such as media players, route gadgets, cell phones, scratch pads, and handheld clinical gadgets are accelerating the product adoption rate across the globe. Moreover, the rising automation in the automotive industry to manage extreme battery voltage fluctuations, operate security systems and extend battery life is also contributing to the market growth. Along with this, the growing environmental consciousness is leading to the construction of cities with smart grid systems, which is propelling market growth. Furthermore, the widespread adoption of energy harvesting systems and the incorporation of the Internet of Things (IoT) and Big Data across various industry verticals are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 45.6 Billion by 2027, exhibiting a CAGR of 8.6% during the forecast period (2022-2027).
- Based on the product, the market has been segmented into linear regulator ICs, switching regulator ICs, voltage reference ICs, power management ASICs/ASSPs, and others.
- On the basis of the application, the market has been classified into communication, computing devices, consumer electronics, automotive, healthcare, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being Analog Devices, Inc., Dialog Semiconductor PLC, Linear Technology Corporation, Maxim Integrated Products, Inc., NXP Semiconductors N.V., On Semiconductor Corporation, Renesas Electronics Corporation, S.T Microelectronics International N.V., and, Texas Instruments Incorporated.
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