Portland, OR, March 04, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global power management integrated circuits (PMICs) market was estimated at $33.96 billion in 2019, and is expected to reach $51.04 billion by 2027, manifesting a CAGR of 5.3% from 2020 to 2027. The report provides a comprehensive analysis of the changing market dynamics, top investment pockets, key segments, value chain, and competitive scenario.
Increase in technological advancements, surge in demand for battery-operated devices, and growth of the semiconductor industry and semiconductor applications augment the growth of the global power management integrated circuits market. Additionally, rise in sales of consumer electronics & automobiles and reduction in cost & area density fuel the market growth. On the other hand, multi-power domain system on chip (SOC) of PMICs restrains the market growth. Nevertheless, rise in application domains of PMICs is expected to usher a plethora of opportunities for the market players in the near future.
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COVID-19 scenario:
- The semiconductor industry has been immensely impacted by the outbreak of COVID-19 outbreak. In addition, the prolonged lockdowns disrupted the supply chain creating a shortage of raw materials. All these factors have impacted the PMIC market altogether.
- The lack of workforce, on the other hand, for assembly, testing, and packaging has further delayed the processes.
- Nevertheless, the need for digital transformation is anticipated to increase post-pandemic with the emergence of 5G and edge computing.
The power management integrated circuits market is segmented on the basis of product type, end use, and region.
Based on product type, the market is further divided into voltage regulators, motor control ICs, integrated ASSP power management ICs, battery management ICs, and others. The voltage regulators segment dominated the market with largest share in 2019, accounting for more than one-fourth of the global market. On the other hand, the battery management IC segment is expected to portray the highest CAGR of 6.4% during the forecast period.
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Based on end use, the automotive and transportation segment held the highest market share in 2019, contributing to more than one-fourth of the market. On the other hand, the industrial segment is estimated to register the highest CAGR of 6.1% from 2020 to 2027. Other segments studied in the report include consumer electronics, telecom & networking, and others.
Based on region, the market is analyzed across various regions including Asia-Pacific, Europe, LAMEA, and North America. The Asia-Pacific region held the largest share in 2019, accounting for nearly half of the market. Also, the region is expected to manifest the highest CAGR of 6.3% during the forecast period.
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The major market players studied in the report include Texas Instruments Inc., ON Semiconductor Corp., Analog Devices Inc., Dialog Semiconductor PLC, Maxim Integrated Products Inc., NXP Semiconductors, Infineon Technologies AG, Mitsubishi Group, Renesas Electronics Corporation, and STMicroelectronics N.V.
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