Power Management Integrated Circuit (PMIC) Market Research Report 2022 - 2027
The global power management integrated circuit (PMIC) market is currently valued at around US$ 28.1 Bn in 2022 and is anticipated to progress at a CAGR of 6.6% to reach US$ 41.2 Bn by 2027. The power management integrated circuit (PMIC) demand accounted for almost 25% market share of global power management system market.
Power management integrated circuit (PMIC) market is expected to witness significant demand during the forecast period due to huge adoption of power management IC in consumer electronics market along with other industry verticals such as medical equipment, aviation, military and oil & gas. This growth is attributed to the rising use of electronics devices and IoT technology by various industrial sectors across the globe.
The Industrial Revolution 4.0 is Completely Transforming Various Industry Verticals in Developed as well as Developing Economies
The global Power Management Integrated Circuit (PMIC) market is segmented based on application and region. Based on application, the global Power Management Integrated Circuit (PMIC) market is sub-segmented into automotive, communication equipment, enterprise systems and industrial & personal electronics.
Due to an increase in the number of electric vehicles, the automotive segment is expected to create potential growth opportunities for the vendors of Power Management Integrated Circuits (PMICs). Power Management Integrated Circuits (PMICs) are used in electric vehicles to manage extreme battery voltage fluctuations, support system security functions, extend the battery life of vehicles and integrate mobile technologies with vehicles.
Continuous Expansion of the Internet of Things (IoT) Ecosystem in Various Countries is One of the Major Factors Driving the Power Management Integrated Circuit (PMIC) Market
The adoption of next-generation and advanced technologies, such as 5G wireless, Internet of Things (IoT), sensors & modules and carrier-grade Wi-Fi, in manufacturing processes is gaining traction. Due to these factors, the automotive sub-segment is expected to create an incremental opportunity of US$ 4,369.6 Mn during the forecast period. In addition, the automotive industry is completely moving towards next-generation vehicle technologies such as vehicle-to-vehicle communication, driverless vehicles, electric vehicles and others.
The Discrete Manufacturing Industry is Becoming a Key Source of Demand for Power Management Integrated Circuits (PMICs)
Power Management Integrated Circuits (PMIC) are used in various fields, such as railways and transportation systems, industrial motion control, factory automation, power generation systems and others, as power management devices offer efficient power transfer among devices. Today, industries in countries such as India, China, Germany, the U.S., France and the U.K., are moving towards digitisation and are creating ideal conditions for manufacturing & automation.
The Adoption of Energy Efficient Consumer Electronic Devices is Boosting the Global Power Management Integrated Circuit (PMIC) Market
Power Management Integrated Circuits (PMICs) are used in laptops, personal desktops, data communication systems as well as in various electronic devices to improve energy efficiency and for the optimised conversion of voltage from one level to another.
Power Management Integrated Circuits (PMICs) are witnessing a significant adoption across the globe due to the increasing usage of consumer electronic devices, such as laptops, computers and connected devices, in countries such as China, India, Japan, Singapore, United Arab Emirates (UAE), Poland, the U.K., Germany and Russia, which is a key factor driving the Power Management Integrated Circuits (PMICs) market.
According to FMI analysis, business partnerships with other Power Management Integrated Circuit (PMIC) manufacturers and long-term business contracts are projected to help the vendors of Power Management Integrated Circuits (PMICs) increase revenue from the market. In addition, new innovation strategies and research & development strategies will enable them to benefit from the new growth opportunities available in the Power Management Integrated Circuit (PMIC) market.
Some of the major market participants profiled in the global Power Management Integrated Circuit (PMIC) market report 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.
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