New York, US, June 25, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Power Management IC Market information by Product, by Application and Region – forecast to 2027” the market size to reach USD 46.15 Billion at a 9.5% CAGR by 2025
Power management integrated circuits (PMIC) are electronic components provide fully integrated, high-performance power management solutions for a broad range of application categories like automotive, consumer electronics, and telecommunication & networking. PMICs provide optimum integration solutions due to their operational features such as power management, interface & audio functions, system control, battery management, as well as other system-specific functions.
Dominant Key Players on Power Management IC market covered are:
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Power management ICs are reported to have recorded high demand across industry verticals, in particular consumer electronics. This demand is mainly due to the trend of miniaturizing electrical components for consumer electronics and wearables, which has led to a growing need for superior power efficiency, high density, and flexibility in the design of power modules for compact devices. The electronics industry across the world is currently impacted by strict environmental and energy efficiency regulations, which have led to various developments, like miniaturization and convergence of almost all electronic devices used on a daily basis. Device miniaturization is done, taking into account all input/output ports and various other components in the assembly that are important to the final product. Miniaturization has increased the need for integrated power for application-specific processors and subsystems. In addition, these components provide greater support for the transition of analog to digital designs and provide increased flexibility, smaller form factors, and increased efficiency for consumer electronics and wearables.
However, the complexity involved in the design and production of these circuits is a key factor hampering the power management integrated circuit market. The size of these components is compact, making the fabrication process more difficult. These components are costly because of the need for technically advanced equipment. This equipment is expensive, requiring high capital expenditure and preventing small companies from entering the industry. The complex integration process for multi-power domain SOCs in circuits is another aspect affecting the power management IC industry. This process requires the integration of various components into a chip that is complex and includes automated equipment. External factors, like fluctuating prices of raw materials and trading policies, hinder market development.
Browse In-depth Market Research Report (175 Pages) on Power Management IC:
Segmentation of Market covered in the research:
The global power management IC industry has been segmented into products and applications.
Based on product, the global PMIC market has been divided into integrated ASSP power management IC, motor control ICs, and voltage regulators.
Based on application, the global PMIC market has been divided into consumer and wearable electronics, automotive, telecom & networking, and industrial.
Globally, the power management integrated circuit industry has been categorized as North America, Europe, Asia Pacific (APAC), and the rest of the world.
APAC to Rise Rapidly
The Asia Pacific is expected to see rapid regional market growth. Rising disposable incomes and improving living standards, together with an increasingly aging population and health awareness, are some of the factors that stimulate demand for consumer electronics, like smartphones, tablets, and wearable devices. This, in turn, fuels demand for power management ICs by the consumer electronics industry in emerging Asian economies like Japan, China, and India. Increased demand for automotive, in particular passenger vehicles, combined with the expanding industrial and retail sectors, will further raise demand for these ICs in the APAC region. However, due to the need for robust methodology and toolsets for implementation, the complex integration process for multi-power domain SOCs may reduce the power management IC market growth during the forecast period.
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September 2019: Qualcomm Technologies Inc. has partnered with Trimble Inc . to develop high-precision positioning solutions for connected vehicles. Qualcomm will combine Trimble's RTX technology with select Qualcomm Snapdragon Automotive 4G and 5G platforms, which is expected to provide extremely precise positioning to hold the lane in a position to enhance advanced driver assistance systems (ADAS).
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COVID-19 Impact on the Global Power Management IC Market
COVID-19 has induced the overall semiconductor sector to prepare quickly and to make short-term decisions with long-term consequences. Semiconductor companies work in a complex ecosystem, operating internationally across the value chain with a wide range of raw materials, assembly, testing, packaging, and equipment suppliers and partners. The demand for telecommunications and networking is expected to increase due to factors such as increased broadband usage, increased demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to increase further the need for digital transformation, technologies such as 5G, IoT, AI, and intelligent edge computing for future optimization. However, the fall in OEM production and the decline in demand for mobile phones and other consumer electronics have slightly restricted the power management integrated circuits market. In addition, the drop in various capital expenditures and delays in various planned projects in various end-use industries has affected the global economy.
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