Download Sample, Emergence of Internet of Things (IoT) is Stimulating the Power Management IC Market Expansion
Power management is becoming an increasingly essential feature in enabling the electronics we use every day, from smartphones and electric vehicles (EVs) to EV charging stations and data centers. With the Internet being freely available practically anywhere in the globe, the number of devices or "things" that use it is rapidly increasing, giving rise to the concept of the Internet of Things (IoT). The emergence of this concept has contributed to a surge in demand for power management ICs in the market. Additionally, the rapid development of smart homes and smart grid technologies, increased processing power in computers and mobile devices, and rising smartphone and tablet adoption are all contributing to a favorable market setting for the power management IC market to expand further.
Manufacturers operating in this market are concentrating their focus on developing creative solutions and releasing new products in order to gain a competitive advantage in the market. For example, in September 2022, Nordic Semiconductor expanded its product line with the introduction of nPM6001TM, a specialized PMIC with six power rails that may be operated individually. It was developed to manage and provide the power requirements of complicated IoT equipment with different power domains requiring independent voltage control. The PMIC may also be used to shut down each power domain individually in order to save energy and increase the battery life of the IoT device.
Manufacturers operating in this market are concentrating their focus on developing creative solutions and releasing new products in order to gain a competitive advantage in the market. For example, in September 2022, Nordic Semiconductor expanded its product line with the introduction of nPM6001TM, a specialized PMIC with six power rails that may be operated individually. It was developed to manage and provide the power requirements of complicated IoT equipment with different power domains requiring independent voltage control. The PMIC may also be used to shut down each power domain individually in order to save energy and increase the battery life of the IoT device.
Rising Demand for Energy-Efficient Products and Growing Adoption of PMICs in Consumer Electronics is Accelerating the Market Development
The increasing demand for energy-efficient products is majorly driving the power management IC market. Globally, the considerable increase in energy consumption and cost has compelled consumers to save energy and create solutions to mitigate the environmental damage caused by carbon emissions. This has raised market demand for power-saving electrical components such as power ICs. In addition to this, the increased popularity of portable devices is driving up demand for PMICs. The rising demand for smartphones, notebooks, and LEDs in turn accelerates the demand for power management ICs.
PMICs are largely utilized in smartphones to extend battery life as well as to provide efficient and quicker charging. PMIC also offers power solutions for media players, portable medical and industrial equipment, and navigation devices. Furthermore, owing to the increasing demand for smartphones, it has become important to incorporate PMICS in order to provide the necessary functionality and performance. Additionally, rising demand for consumer electronics such as tablets, music players, smartphones, and televisions is likely to boost development in the global power management ICs market during the forecast period.
PMICs are largely utilized in smartphones to extend battery life as well as to provide efficient and quicker charging. PMIC also offers power solutions for media players, portable medical and industrial equipment, and navigation devices. Furthermore, owing to the increasing demand for smartphones, it has become important to incorporate PMICS in order to provide the necessary functionality and performance. Additionally, rising demand for consumer electronics such as tablets, music players, smartphones, and televisions is likely to boost development in the global power management ICs market during the forecast period.
Recent Trends in the Power Management IC Industry
- Adoption of GaN and SiC technologies for higher performance.
- Emphasis on IoT power management for low-power devices.
- Rising demand for automotive-grade power management ICs for EVs.
- Integration of power management functions for compact designs.
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Novel Product Launches and Acquisitions Provide Traction to the Market Expansion
Major market participants are concentrating their efforts on research and development in order to create novel products that fulfill the needs of consumers. In order to enhance their position in the industry, they are also implementing different market strategies such as product launches, mergers, collaborations, and acquisitions. For instance, MagnaChip Semiconductor Corporation announced a new line of power management integrated circuits (PMIC) in December 2020 with the release of its first UHD display panel PMIC for laptops. The new PMIC is able to manage fluctuations in current consumption and safeguard devices from harm with functionalities such as over-voltage protection, short circuit protection, under-voltage lockout, thermal shutdown, over-current limit, and over-current detection. Later, in August 2021, Renesas Electronics Corporation, a leading provider of advanced semiconductor solutions, and Dialogue
Semiconductor Plc, a leading provider of battery and power management, Wi-Fi, Bluetooth® low energy, and Industrial edge computing solutions, announced the successful completion of the acquisition of Dialog's entire issued and to be issued share capital by Renesas’. Additionally, in January 2020, Qorvo®, a leading developer of innovative RF solutions that connect the world, launched a power management integrated circuit (PMIC) that expands the company's range of devices for quick in-vehicle charging of phones, tablets, and laptops. The ACT4751M from Qorvo is the industry's first AEC-Q100-approved step-down, voltage-regulator IC devoted to USB Type-C® Fast Charger applications. The ACT4751M is capable of meeting all power needs for USB Fast Charger applications, including the Power Delivery 3.0 Programmable Power Supply.
Semiconductor Plc, a leading provider of battery and power management, Wi-Fi, Bluetooth® low energy, and Industrial edge computing solutions, announced the successful completion of the acquisition of Dialog's entire issued and to be issued share capital by Renesas’. Additionally, in January 2020, Qorvo®, a leading developer of innovative RF solutions that connect the world, launched a power management integrated circuit (PMIC) that expands the company's range of devices for quick in-vehicle charging of phones, tablets, and laptops. The ACT4751M from Qorvo is the industry's first AEC-Q100-approved step-down, voltage-regulator IC devoted to USB Type-C® Fast Charger applications. The ACT4751M is capable of meeting all power needs for USB Fast Charger applications, including the Power Delivery 3.0 Programmable Power Supply.
High Costs, Complexity and Technical Limitations of PMICs are Likely to Hamper the Market Growth
The power management section in a system necessitates the use of a number of single-function power management ICs. As a result, the cost of inventory, assembly, bill of materials, and dependability have increased. On both the primary and secondary sides of a circuit board, for example, the power rails are typically handled by a basic and single-function IC. A circuit board may require a variety of ICs depending on the onboard power, rail voltage, and other factors. Modern circuit boards require more than five secondary power lines, which increases the board's complexity. Furthermore, due to the rising demand for PMICs in portable devices, many manufacturers are focusing on reducing the size of these integrated circuits. Additionally, the manufacturers also have to ensure that the PMICs are both energy-efficient and compact in size. As a result, these factors are anticipated to limit the growth of the global power management ICs market over the forecast period.
STMicroelectronics, Maxim Integrated, Cypress Semiconductor Corporation, ROHM Semiconductor, Renesas Electronics Corporation, Texas Instruments, Analog Devices, Inc., ON Semiconductor, Infineon Technologies AG, Dialog Semiconductor are some of the prominent market players operating in the global power management IC market.
STMicroelectronics, Maxim Integrated, Cypress Semiconductor Corporation, ROHM Semiconductor, Renesas Electronics Corporation, Texas Instruments, Analog Devices, Inc., ON Semiconductor, Infineon Technologies AG, Dialog Semiconductor are some of the prominent market players operating in the global power management IC market.
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Rising Inclination Towards Industrial Automation and Digitisation is Impacting the Market Expansion
North America is anticipated to experience significant growth in the power management IC market during the forecast period. This growth can be attributed to the rising inclination of the automotive industry towards electric transport systems across the region. Moreover, the existence of various market participants, as well as quick technical advancements in the telecommunications, electronics, and automotive industries, contribute to the country's competitive advantage. In addition to this, the market is also growing due to the rising government initiatives and significant expenditures in battery management systems to meet the development in electric car and storage demands. Furthermore, the power management IC market is also witnessing a surge in demand in the Asia Pacific region owing to the increasing industrial automation in the region. Moreover, the rise of the Internet of Things (lot) has inspired a number of regional businesses to develop flexible power management ICs for the power and performance control of loT devices.
In addition, advancements in smart home and smart grid technologies, as well as increased computing power in smart devices, are driving the expansion of the power management IC market in the region. Besides, as of today, businesses in countries such as Germany, France, the United Kingdom, and others are moving towards digitalization, generating perfect circumstances for manufacturing, automation, and embedded systems, eventually creating growth prospects for the power management ICs market. Furthermore, the rising need for power management in intelligent ICT-based equipment, systems, and networks is generating a major potential for the growth of the power management ICs market in Europe.
In addition, advancements in smart home and smart grid technologies, as well as increased computing power in smart devices, are driving the expansion of the power management IC market in the region. Besides, as of today, businesses in countries such as Germany, France, the United Kingdom, and others are moving towards digitalization, generating perfect circumstances for manufacturing, automation, and embedded systems, eventually creating growth prospects for the power management ICs market. Furthermore, the rising need for power management in intelligent ICT-based equipment, systems, and networks is generating a major potential for the growth of the power management ICs market in Europe.
The report provides a detailed overview of the power management IC market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the power management IC market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the power management IC market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the power management IC market. Some key countries and region included in the power management IC market report are as follows:
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Kenya, Rest of MEA |
Power Management IC Market Research Report Covers In-depth Analysis on:
- Power management IC market detailed segments and segment-wise market breakdown
- Power management IC market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in power management IC industry)
- Current, historical, and forthcoming 10 years market valuation in terms of power management IC market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Power management IC market demand analysis
- Power management IC market pricing analysis over the forecast period (by key segment and by region)
- Power management IC market regional insights with a region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in the power management IC market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in power management IC market
- Power management IC market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on power management IC market forecast by countries
- Mergers and acquisitions in the power management IC market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key factors influencing the Power Management IC market?
Factors such as technological advancements, increasing demand for energy-efficient solutions, and the growing use of consumer electronics and electric vehicles are driving the growth of the power management IC market.
What are the key challenges faced by the Power Management IC market?
The key challenges include high manufacturing costs, technological complexities, and stringent regulatory standards that manufacturers must navigate to remain competitive in the power management IC market.
What is the future outlook for the Power Management IC market?
The market is expected to grow rapidly due to the increasing demand for smart devices, renewable energy, and electric vehicles, as well as advancements in the development of power management technologies.
