Market Challenges And Opportunities

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 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.