PUBLISHER: The Business Research Company | PRODUCT CODE: 1532050
PUBLISHER: The Business Research Company | PRODUCT CODE: 1532050
A power management integrated circuit (IC) is an electronic component designed specifically to handle the power needs of devices by efficiently controlling voltage and current distribution. It consolidates multiple power control functions, including voltage regulation, power sequencing, and battery management, within a single chip.
The primary types of power management ICs include voltage regulators, linear voltage regulators, DC regulators, motor control ICs, integrated ASSPS power management ICs, and battery management ICs. Voltage regulators maintain a consistent voltage level for devices despite fluctuations in input voltage or changes in load conditions. They encompass both digital and analog functions, operating across a range from 1µA to above 100A. These ICs find applications in various fields such as consumer electronics, automotive, information technology, telecommunications, healthcare, industrial sectors, power and energy, aerospace, defense, and others. They serve essential roles in linear regulators, voltage detectors (reset ICs), LED controllers, DC-DC converters (switching regulators), switch ICs, and other specialized functions.
The power management IC market research report is one of a series of new reports from The Business Research Company that provides power management IC market statistics, including power management IC industry global market size, regional shares, competitors with a power management IC market share, detailed power management IC market segments, market trends and opportunities, and any further data you may need to thrive in the power management IC industry. This power management IC market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The 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 witnessed in the historical period can be attributed to several factors including the rise of electric vehicles (EVs), the proliferation of Internet of Things (IoT) devices, the increasing popularity of wearables, the expansion of smart home systems, and the growing adoption of 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%. Anticipated growth in the forecast period is driven by advancements in semiconductor technology, increasing demand in consumer electronics, higher requirements for battery longevity, integration of renewable energy sources, and the expansion of telecommunications infrastructure. Key trends expected during the forecast period include a focus on sustainability and green technologies, integration of smart grid technologies and renewable energy sources, adoption of wireless charging solutions, deployment of advanced battery management systems (BMS), incorporation of artificial intelligence and machine learning technologies into power management ICs.
The rise in electric vehicle (EV) adoption is expected to drive growth in the power management IC market. EVs utilize electric motors powered by rechargeable batteries, offering a sustainable alternative to traditional vehicles. This shift is fueled by environmental benefits, technological advancements, and the expanding infrastructure of charging stations. Power management ICs within EVs optimize battery usage, manage power distribution, and improve overall energy efficiency, ensuring reliable performance and extending battery life. For instance, in July 2023, the International Energy Agency reported a 25% increase in EV sales, with over 2.3 million units sold in the first quarter compared to the previous year. Sales are projected to reach 14 million by the end of 2023, showing a 35% year-on-year growth, particularly accelerating in the latter half of the year. Therefore, the growing adoption of EVs is a significant driver of the power management IC market's expansion.
Leading companies in the power management IC market are concentrating on advancing technologies such as filter-integrated circuits to enhance system functionality while reducing costs. These semiconductor devices are designed to process electronic signals by selectively allowing certain frequencies to pass and attenuating others, commonly used in signal processing and communication systems. For instance, in March 2023, Texas Instruments Inc. introduced active electromagnetic interference (EMI) filter integrated circuits (ICs) that support high-density power supply designs. These ICs integrate sensing, filtering, gain, and injection stages and are packaged in a SOT-23 14-pin format. They effectively diminish common-mode electromagnetic interference (EMI) in single-phase power supply systems, resulting in smaller, lighter, and more cost-effective filter designs.
In September 2022, Allegro MicroSystems, Inc., a US-based semiconductor company specializing in advanced technology, acquired Heyday Integrated Circuits for $19 million. This acquisition positions Allegro MicroSystems to enhance its product portfolio, technological capabilities, and market reach in integrated circuit solutions. Heyday Integrated Circuits, based in France, is recognized for its expertise in power management ICs.
Major 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.
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.
The countries covered in the power management ic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The 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.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Power Management IC Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on power management IC market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for power management IC ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The power management IC market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.