Wilmington, Delaware, United States, May 04, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global power management integrated circuit (PMIC) market stood at US$ 32.9 Bn in 2022 and is expected to reach US$ 56.2 Bn by 2031, expanding at a CAGR of 6.3% between 2023 and 2031.
The market is anticipated to be driven by expansion of the automotive industry and rise in popularity of portable devices. PMICs are the most suitable solution for embedded processing in a range of applications, including electric vehicles, industrial and medical IoT, edge computing, Internet of Things (IoT), as well as autonomous vehicles.
Automotive PMICs are becoming more popular in the global market since they offer efficient and highly integrated power management solutions for automotive applications. Leading companies are improving existing products in order to grow consumer base. This is driving market development.
An electrical component known as a power management integrated circuit (PMIC) controls power usage and distribution in electronic devices including mobile phones, tablets, and laptops. It is a fully integrated device that packs several features onto a single chip, including power sequencing, voltage management, and current regulation.
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PMIC minimizes power loss and heat production while supplying a reliable and effective power source to a device's electronic components. It controls both the current and voltage delivered to each component in order to avoid device damage and overloading.
Key Findings of Market Report
- In terms of product type, the voltage regulator segment accounted for significant market share in 2022. The segment is expected to dominate the market from 2023 to 2031. End-use sectors, including consumer electronics, automotive, and IT & communications, often require voltage regulators. These ICs contribute to extending the battery life of portable electronics, including tablets, laptops, and cellphones.
- Based on end-use, the consumer electronics segment held 32.4% market share in 2022. The trend is anticipated to continue during the forecast period. Surge in popularity of home appliances, tablets, and smartphones can be credited with the segment's expansion.
Global Power Management Integrated Circuit [PMIC] Market: Growth Drivers
- PMICs are utilized in several applications, including ADAS, body electronics, intelligent cockpits, lighting systems, autonomous driving, and cluster and entertainment systems. Therefore, growth of the automotive industry is likely to propel the global power management integrated circuit (PMIC) market in the near future.
- Media players, laptops, cellphones, tablets, and navigational devices are just a few instances of portable electronic devices that include PMIC. Additionally, it is used in industrial and mobile medical equipment., Cisco Mobile Visual Networking Index study indicated that there will be 11.6 billion mobile-connected devices by 2021. In addition, smartphones are likely to account for more than half of all electronic devices on the planet by 2021. Therefore, rapid use of portable devices is projected to fuel market demand during the forecast period.
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Global Power Management Integrated Circuit [PMIC] Market: Regional Landscape
- Asia Pacific is anticipated to account for the largest market share between 2023 and 2031. The region held 36.9% share of the global market in 2022. Presence of several end-use industries is likely to drive industry growth in the region in the near future.
Key Points from TOC:
1. Preface
1.1. Market Introduction
1.2. Market and Segments Definition
1.3. Market Taxonomy
1.4. Research Methodology
1.5. Assumption and Acronyms
2. Executive Summary
2.1. Global Power Management Integrated Circuit (PMIC) Market Overview
2.2. Regional Outline
2.3. Industry Outline
2.4. Market Dynamics Snapshot
2.5. Competition Blueprint
3. Market Dynamics
3.1. Macro-economic Factors
3.2. Drivers
3.3. Restraints
3.4. Opportunities
3.5. Key Trends
3.6. Regulatory Framework
4. Associated Industry and Key Indicator Assessment
4.1. Parent Industry Overview - Global Power Management System Industry Overview
4.2. Supply Chain Analysis
4.3. Pricing Analysis
4.4. Technology Roadmap
4.5. Industry SWOT Analysis
4.6. Porter’s Five Forces Analysis
4.7. COVID-19 Impact and Recovery Analysis
5. Global Power Management Integrated Circuit (PMIC) Market Analysis, By Product Type
5.1. Power Management Integrated Circuit (PMIC) Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, By Product Type, 2017–2031
5.1.1. Voltage Regulator
5.1.2. Motor Control IC
5.1.3. Integrated ASSP Power Management IC
5.1.4. Battery Management IC
5.1.5. Microprocessor Supervisory IC
5.1.6. Others (Power-over-Ethernet (PoE) Controllers, Power Factor Correction (PFC) Controllers, etc.)
5.2. Market Attractiveness Analysis, By Product Type
6. Global Power Management Integrated Circuit (PMIC) Market Analysis, By Application
6.1. Power Management Integrated Circuit (PMIC) Market Size (US$ Bn) Analysis & Forecast, By Application, 2017–2031
6.1.1. Battery Management
6.1.2. ADAS
6.1.3. Infotainment and Monitoring
6.1.4. Lighting
6.1.5. HMI and Automation
6.1.6. HVAC Systems
6.1.7. Motor Drives
6.1.8. Chargers and Power Supply
6.1.9. Switches and Routers
6.1.10. Others (Embedded Computing, Medical Devices, Elevators and Escalators, etc.)
6.2. Market Attractiveness Analysis, By Application
TOC Continued……
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Global Power Management Integrated Circuit [PMIC] Market: Key Players
- Renesas Electronics Corporation
- STMicroelectronics N.V.
- Infineon Technologies AG
- Texas Instruments, Inc.
- Qualcomm Technologies, Inc.
- Ricoh Electronic Devices
Global Power Management Integrated Circuit [PMIC] Market: Segmentation
Product Type
- Voltage Regulators
- Motor Control Power Management IC
- Integrated ASSP Power Management IC
- Battery Management IC
- Microprocessor Supervisory IC
- Others
Application
- Battery Management
- ADAS
- Infotainment and Monitoring
- Lighting
- HMI and Automation
- HVAC Systems
- Motor Drives
- Chargers and Power Supply
- Switches and Routers
- Others
End-use Industry
- Automotive
- Aerospace & Defense
- Energy & Utility
- Consumer Electronics
- Industrial
- IT & Telecommunication
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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