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Power Management IC Market Overview
The Global market for Power Management IC is forecast to reach $52.3 billion by 2027, growing at a CAGR of 4.6% from 2022 to 2027. The market growth is attributed to the factors such as growing digitization, enhancements in semiconductor technology, and others. Technological developments related to power sequencing and electromagnetic interference reduction in System-on-chip PMICs will drive market growth. Moreover, growing applications in different end user verticals including consumer electronics, automotive, healthcare, battery fuel gauges and others boost the market growth. The increasing focus on managing energy consumption, optimizing the use of renewable energy sources, reducing the carbon footprint and greenhouse gas emissions are creating demands for PMIC. The growing usage of smart grid services in industrial sector and increasing demand for PMIC from developed countries and government policies and incentives are some of the factors will further enhance the overall market demand for Power Management ICs market during the forecast period.
Power Management IC Market Report Coverage
The report: “Power Management IC market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Power Management IC market.
By Channel: Single channel, Multi-channel
By Function: Digital, Analog
By Operating range: 1µA to 1mA, 1.1mA to 1A, 1A to 10A, 10.1A
to 25A, 25.1A to 100A, above 100A
By Type: Programmable Output, Fixed Output,
Others
By Application type: Linear Regulators, Reset ICs (Voltage
Detectors), LED Controllers, DC-DC Convertors (Switching Regulators), Switch
ICs, Others
By End Users: Consumer Electronics, Automotive, IT &
Telecommunication, Healthcare, Industrial, Power & Energy, Aerospace &
Defence, Others
By Geography: North America (U.S, Canada, Mexico), South
America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain,
Russia and Others), APAC(China, Japan India, South korea, Australia and
Others), and ROW (Middle East and Africa)
Key Takeaways
- A significant factor driving the Power Management IC industry in the communication field is the advent in wireless networking, together with its tools and appliances. Rising demand for wired and wireless links and their increasing industrial implementations are also driving technology developments, while also creating space for Power Management ICs.
- Increasing demand for energy storage technology coupled with technical advancements is also boosting Power Management IC demand over the forecast period 2020-2025.
Power Management IC Market, By Function, 2021 (%)
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Power Management IC Market Segment Analysis –By Application Type
DC-DC converters (Switching regulators) segment held the highest market share of Power Management IC in 2021 at 28.9% share. Moreover, it is anticipated to witness significant market growth during the forecast period 2022-2027. Market development is attributed to growing demands for power management like high voltage technologies, coupled with high reliability and robustness for industrial and automotive applications, compactness and high performance for consumer applications. These switched-mode power supply systPMIC provide a full range of defensive features (overcurrent, overvoltage, over-temperature) to maximize the mean time between failures (MTBF) and minimize the amount of external components required to transform the electricity. Various product alternatives are available in the market, all of which provide compactness and good thermal efficiency to support specific applications.
Power Management IC Market Segment Analysis – By End User Type
Power Management IC market is segmented into Consumer Electronics, Automotive, IT & Telecommunication, Healthcare, Industrial, Power & Energy, Aerospace & Defence, others on the basis of end user type. Consumer Electronics segment is anticipated to witness the significant market growth during the forecast period 2022-2027 at 5.9% CAGR. The market growth is due to advances in power semiconductor devices and high voltage integrated circuits. The key requirements for good efficiency, lightweight, reduced scale, and heat dissipation in the digital power management environment is fulfilled by application-specific power MOS systPMICalong with controller ICs and high voltage ICs. Advances in semi-conductor interface technology have stimulated the production of several tiny and light electronic devices. These smaller, lighter, and feature-rich compact products have found widespread usage, especially in computing and telecommunications applications. For instance, these itPMICinclude laptop computers, PCS and Personal Digital Assistants (PDAs). Whilst digital devices operated by batteries continue to grow in technology, their power usage has risen dramatically in terms of efficiency and miniaturisation. Therefore power control has been of utmost importance for optimizing battery capacity, prolonging the activity of the device and rising heat dissipation.
Power Management IC Market Segment Analysis – By Geography
North America region held the highest market share and is anticipated to have the significant market growth during the forecast period 2022-2027 at 4.7% CAGR. The market growth is owing to technological developments, presence of developed countries and key manufacturers in this region. Moreover growing consumer electronics, automotive and other segments in this region is dominating the Power Management IC market. Furthermore, Semiconductor devices are currently one of the fastest growing segments of the electronics industry. Innovative semiconductor technologies have allowed growing demands for device power management and are used to provide cost-effective system solutions. In September 2019, Silvaco entered into a partnership with HDL Design House for Analog and Digital IC Design Services and full turn-key strategies for fabless semiconductor businesses around the globe. In March 2020, Microsoft entered into a partnership with German utility E.ON to develop a smart home platform to manage everything in a house that runs on electricity from washing machines to HVAC thermostats to the charging stations for electric cars. This leads to increase in demand for power management ICs. Consequently, such partnership and product launches propels the market growth.
Power Management IC Market Drivers
Growing trend of smart buildings
Smart home technology help communities and become more energy efficient. Trend toward smart homes have been driving the energy management system. PMIC is able to collect and process big data into useful analytics. Researchers are focusing towards PMICs in order to help smart home owners and to reduce energy consumption, while improving the effectiveness of the power grid. An PMIC helps electric utility grid operators in monitoring and optimizing energy transmission. However, current systems are unable to collect enough data to create energy use comparisons between a large number of households. Furthermore, smart home technologies are not interoperable with today’s PMIC solutions. As more homeowners invest in devices that are network-connected to control functions like lighting, temperature, security and entertainment systems. Hence there are ample opportunities for PMIC to gather much more data about a home’s energy use and helps in creating safer home power management system. Hence these kinds of developments propel the market in the forecast period.
Integration of IoT Technology with energy management devices
These IoT energy devices such as smart meters and other energy devices connect consumers directly to the power distribution station, allowing for a two-way communication. With this, during real time, they can send critical operation information to the utility agencies. This helps utility agencies in easily addressing of any performance issues, including outages, and helps in reducing the system downtime. Smart grids that connect in a single network create smart energy grids. This signifies another way the internet of things can be used in energy management. For instance, Duke Energy, which is a Florida-based company, has introduced a self-healing grid system which can automatically re-calibrate itself after a power outage and as a result minimize the downtime. Tennessee was one of the first cities to implement smart grid technology in the U.S. This has resulted in over 50% shorter outages and helped the community in saving over $1.4 million in 2020 in operating costs during a single storm. Integration of IoT technology is set to fuel energy management system market.
Power Management IC Market Challenges
Complexity in integration process
There is a growing requirement of robust methodologies and implementing toolsets for the deployment of System on Chips. Alongside this, there is also an increased complexity in the integration processes for multi-power domain SOCs (System on a chip). This will restrain market growth during the forecast period 2022-2027.
Power Management IC Market Landscape
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Power Management IC market. As of 2021, the market for Power Management IC market is consolidated with the top players including
- STMicroelectronics N.V.
- Texas Instruments Inc.
- Maxim Integrated Products, Inc.
- Renesas Electronics Corp.
- Analog Devices, Inc.
- Rohm Semiconductor
- NXP Semiconductors
- On Semiconductor Corporation
- Qualcomm, Inc.
- Linear Technology Corporation
Recent Developments
- In January 2020, Integrated Device Technology, Inc. (IDT), a wholly-owned subsidiary of Renesas Electronics Corporation, launched the industry's first integrated power management IC (PMIC) designed for lightweight, un-buffered, DDR5-based dual in-line memory (DIMM) modules that support a wide variety of laptop, mobile and embedded computing platforms.
- In August 2021, Renesas Completed the Acquisition of Dialog Semiconductor. This acquisition builds on Renesas’ long-term strategy to offer a complete set of solutions with more leading-edge analog and mixed signal products that deliver value and innovation to the customers
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