Power Management Integrated Circuit (PMIC) Market to Gain a Stronghold by 2028

Posted by Shirish Wadaskar on February 28th, 2019

Future Market Insights (FMI) has recently published a report titled ‘Power Management Integrated Circuit (PMIC) Market – Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028.’ Power Management Integrated Circuit (PMIC) products combine PowerPath control, battery charging and DC-to-DC power management for various consumers and industrial electronic handheld devices.

Power Management Integrated Circuits (PMICs) are solid-state devices that provide high-performance and highly integrated solutions for a wide range of consumer electronics, automotive and industrial applications. Power Management Integrated Circuit (PMIC) control the direction and flow of electric power in several electrical devices. Power Management Integrated Circuits (PMICs) incorporate more than one power control function such as under-voltage protection, voltage supervision and different power conversions & power controls.

Due to the rising demand for the energy-efficient electronic products, the Power Management Integrated Circuit (PMIC) market is expected to grow at a CAGR of 7.9% during the forecast period. Moreover, in 2018, the global Power Management Integrated Circuit (PMIC) market was valued at US$ 20,996.7 Mn, and is expected reach US$ 44,780.3 Mn at the end of 2028. This growth can be attributed to the increasing demand for IoT and power optimisation solutions. Furthermore, Power Management Integrated Circuits (PMIC) help optimise the usage of power sources across various industrial applications. Therefore, Power Management Integrated Circuits (PMICs) are expected to witness high demand for use in smart grids and storage systems.

The global Power Management Integrated Circuit (PMIC) market is segmented on the basis of application and by region. On the basis of application, the global Power Management Integrated Circuit (PMIC) market is sub-segmented into automotive, communication equipment, enterprise systems, industrial and personal electronics. Due to the rising demand for the energy-efficient consumer electronic devices, the personal electronic segment is expected to dominate the global Power Management Integrated Circuit (PMIC) market during the forecast period. The continuous growth of wearables & gaming devices, smartphones, tablets and personal computers is expected to surge the growth of the global Power Management Integrated Circuit (PMIC) market. Power Management Integrated Circuits (PMICs) are used in various personal electronic devices and battery-operated devices for the management of input and output voltage.

Furthermore, due to an increase in the applications of Power Management Integrated Circuits (PMICs) in factory & commercial automation, the industrial segment is expected to create new business opportunities for the manufacturers of Power Management Integrated Circuits (PMICs). This segment is projected to grow with a double-digit growth rate during the forecast period and create an incremental opportunity of US$ 4,422.7 Mn between 2028 and 2028. In addition, the increasing electrification of vehicles, such as hybrid and electric vehicles, is energising the market for Power Management Integrated Circuits (PMICs) in most of the developing and developed nations. Due to these factors, the automotive sub-segment of Power Management Integrated Circuit (PMIC) market is projected to grow at a CAGR of more than 7.0% during the forecast period.

Based on geography, the Power Management Integrated Circuit (PMIC) market in the Asia Pacific region is projected to exhibit a CAGR of more than 9.0% during the forecast period. China and India are among the major contributors to the growth of the Asia Pacific Power Management Integrated Circuit (PMIC) market. Growing digitisation in India and China is also one of the major factors contributing to the market growth. At present, China is the most connected country in the world. The Chinese and Indian governments are also undertaking initiatives to develop connected infrastructure. In addition, India is one of the fastest-growing economies in the world, and the government has created a favourable business environment for foreign investors. Due to these factors, Asia Pacific is one of the prominent investment regions for the manufacturers of Power Management Integrated Circuits (PMICs). Furthermore, the rapid adoption of automation technologies in the North America region is expected to provide potential growth opportunities for the manufacturers of Power Management Integrated Circuits (PMICs) during the forecast period.

According to FMI analysis, continuous innovations and a dedicated focus on next-generation technologies are some the factors contributing to the growth of the businesses of Power Management Integrated Circuit (PMIC) manufacturers. In addition, long-term business and technological partnerships between Power Management Integrated Circuit (PMIC) manufacturers and OEMs are expected to boost their revenue during the forecast period. Some of the major market participants profiled in the global Power Management Integrated Circuit (PMIC) market are: ON Semiconductor Corporation, Texas Instruments, NXP Semiconductors N.V., STMicroelectronics, ROHM Semiconductor, Analog Devices, Inc., Renesas Electronics Corporation, Maxim Integrated, Infineon Technologies AG, Cypress Semiconductor Corporation, Skyworks Solutions, Inc., Microchip Technology Inc., Semtech Corporation and Samsung.

Summary: Global power management integrated circuit (PMIC) market to grow at a CAGR of 7.9%, through 2028, rising demand for the energy-efficient electronic products being the key demand-driving factor. Sales of power management integrated circuit (PMIC) is expected to remain high in Asia Pacific’s China and India given the growing digitisation.