POWER MANAGEMENT ICS MARKET ANALYSIS

Global power management ICs market is valued at US$ 39,412.26 Mn in 2022 and estimated to be valued at US$ 61,489.32 Mn 2030, exhibiting a CAGR of 5.72% during the forecast period (2023-2030).

The region with the highest revenue share in 2022, at 30.7%, is North America. Biometric technologies are widely used in the U.S. in a variety of areas, including state, homeland security, business, and justice. A growing number of safety and security requirements are being satisfied by biometric technology as a result of the increased threat of terrorism on a global scale. The greatest CAGR of 22.4% is anticipated for Asia Pacific throughout the projection period. Efforts integrating face, fingerprint, and eye biometrics, like the UIDAI project in India and the e-KTP electronic ID initiative in Indonesia, are also anticipated to open up new commercial prospects. These integrated circuits manage the flow of power from various power sources such as Universal Service Bus, batteries, and wall adapters, while. PMICs is used in consumer electronics such as smartphones, bluetooth headsets, and MP3 players, and in portable industrial and medical equipment.

Global Power Management ICs Market: Regional Insights

Europe, North America, latin America, Africa and Asia-Pacific are the market's regional players. Power management IC was first implemented in North America. The United States and Canada play a major role in the market. There is a lot of growth because there are so many manufacturers of electronics. With the most shares, the Asia Pacific region comes in second place.

Consumer electronics are manufactured by Asia Pacific. The nations with the greatest contributions are China, India, and Japan. Europe is yet another significant and extensive contributor. There is a lot of demand in other markets and the semiconductor industry. A new market is the Middle East. In these nations, IC is expanding rapidly.

For Instance, in June 2022, to meet the rising demand for high-quality chip designs, Silicon Topology (Taiwan), a leading ASIC/SoC physical layout design service provider, announced its membership in the TSMC Design Center Alliance (DCA) Memory devices, mixed-signal, analog, and RF circuit layout services are Silicon Topology's primary areas of expertise.

Figure 1: Global Power Management ICs Market Share (%), in terms of Value, By Region, 2022

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Global Power Management ICs Market - Impact of Coronavirus (Covid-19) Pandemic

Coronavirus (COVID-19) Pandemic have negatively affected the economies of various countries around the globe. According to the International Monetary fund Analysis, the global economy is expected to shrink down by 3% percent in the year 2020 compared to year 2019. These economic slowdown expected to reduce the spending power of consumers across the globe. Consumers are less likely to spend on the consumer electronics products such as smartphones, Bluetooth headsets and others. The power management ICs are majorly used in the mobile phones and other consumer electronics products.

Global Power Management ICs Market- Drivers

Increasing sales of portable devices are expected to drive growth of the global power management ICs market during the forecast period

The demand for PMICs is increasing due to increase adoption of portable devices. PMICs are largely used in smartphones, notebooks, and LEDs. The demand for PMICs increases with the increase in sales of these products. PMICs are primarily used in smartphones to increase battery life and for efficient and faster charging. Moreover, PMIC provides power solutions for media players, handheld medical & industrial devices, and navigation devices. PMICs are developed for polymer/Li-ion battery-based applications. It has become necessary to integrate PMICs to deliver the right functionality and performance, owing to growing demand for smartphones. Furthermore, increasing demand for consumer electronics such as tablets, music players, smartphones, and television is expected to drive growth of the global power management ICs market during the forecast period.

Rising demand for energy efficiency is expected to propel the global power management ICs market growth over the forecast period

Currently, there is high demand for energy-efficient products in the market. There are several government policies to save and reduce energy consumption, energy costs, and energy emissions. Hence, several PMICs are incorporated in devices that monitor the consumption of power and energy. Portable products that operate on batteries include these ICs for efficient usage of power. Therefore, these factors are expected to propel the global power management ICs market growth over the forecast period.

Global Power Management ICs Market- Opportunities:

Energy harvesting applications can present lucrative growth opportunities in the global power management ICs market

PMICs are generally used for power saving and voltage regulation applications in devices such as smartphones, televisions and smartwatches. Due to huge potential of PMICs, these are now being incorporated in converters to harvest energy from thermal, vibrational, solar, and other sources of energy to be used in different applications. PMICs can be designed such that these can be used in systems that derive energy from different sources of energy such as thermal, kinetic, and solar. The energy can then be stored for use in products or devices such as wearable electronic products, wireless sensor networks and similar applications.

Growing use in smart buildings can provide major business opportunities in the global power management ICs market

A large number of buildings worldwide consume more than 40% of the energy than any other product or asset. Buildings can be retrofitted with energy monitoring devices that use PMICs. With ICs getting smaller and cheaper, it would do away with intrusive and costly wiring, making the energy retrofits efficient and easier for owners of average buildings. Installation of energy-efficient retrofits can result in an improvement of approximately 50% inefficient usage of power. PMICs are expected to be adopted on a large scale throughout the forecast period in the smart buildings sector, thereby driving market growth.

Global Power Management ICs Market Trends:

Research and development activities among market players

Key market players are focusing on research and development activities, in order to expand their product portfolio. For instance, in June 2021, Nordic Semiconductor’s first power management IC combines a USB compatible Li-ion/Li-polymer battery charger and a DC/DC buck regulator in a WLCSP package.( Nordic Semiconductor is a fabless semiconductor company specializing in wireless technology for the IoT.)

Increasing demand for the portable device, and need for non-conventional energy source

Consumer electronic devices are generally operated by batteries. Demand for devices with longer battery life has led to the introduction of better and efficient PMICs. Demand for other forms of energy is increasing, due to depletion of resources such as oil, gas, and coal. PMICs help in the preservation and efficient distribution of energy.  In Dec 2020, MagnaChip Introduces First Power Management IC for Laptops with UHD Display Panels. (Magnachip Semiconductor is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions.)

Global Power Management ICs Market Restraints:

High complex structure PMICs is expected to hamper the global power management ICs market growth over the forecast period

The power management section requires a number of single-function power management ICs in a system. As a result of this, there is increased cost for inventory, assembly, bill of materials, and reliability. For instance, the power rails in a circuit board are generally managed by a simple and single-function IC on both the primary and secondary sides. A circuit board requires different ICs depending onboard power, rail voltage, and other specifications. Modern circuit boards require more than five secondary power rails, thus increasing the complexity of the board. Hence, these factors are expected to hamper the global power management ICs market growth in the near future.

Challenges associated reduction in size is expected to restrain growth of the global power management ICs market during the forecast period

As there is demand for PMICs in portable devices, manufacturers are focused on reducing the size of these ICs. Furthermore, manufacturers need to ensure that PMICs are highly energy-efficient and small in size. Therefore these factors are expected to restrain growth of the global power management ICs market during the forecast period.

Figure 2: Global Power Management ICs Market Share (%), in terms of Value, By Segment, 2022

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Global Power Management ICs Market Segmentation:

Global power management ICs is segmented into by product type (Voltage regulators, Motor Control IC, Integrated ASSP Power Management IC, Battery Management IC, Others, by end user (Automotive, Consumer Electronics, Industrial, Telecom and Networking, and Others). By region(Asia Pacific, Europe, North America, Middle East Africa, Latin America).

Global Power Management ICs Market: Key Companies Insights

Global power management ICs market is highly competitive, due to increasing launches of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.

Some of the key players in the global power management ICs are Analog Devices Inc., Dialog Semiconductor PLC, Infineon Technologies AG, Maxim Integrated Products Inc., Mitsubishi Group, NXP Semiconductors, ON Semiconductor Corp., Renesas Electronics Corporation, STMicroelectronics N.V., Texas Instruments Inc., and Rohm Co Ltd.

*Definition: Power management IC (PMIC) is an integrated circuit that helps to manage the power requirements of host system. PMICs are used to build an efficient power system in battery-enabled portable devices such as laptops, tablets, and smartphones.