The Global Power Management IC’s Market was valued at USD 25.17 Billion in 2018 and is estimated to reach a market value of USD 46.15 Billion by 2025, registering a CAGR of 9.5% during the forecast period 2019–2025.
The increasing need for efficiency in power, high density as well as design flexibility of power modules are some of the key drivers supporting the growth of the market. Additionally, the growth of gallium nitride (GaN) and silicon-carbide are expected to most likely new door of opportunities for the players in the market in the coming years. This, in turn, is slated to drive the market over the forecast period. However, issues concerning development in multi-power domain SoCs can dampen the global Power Management IC Market growth.
Some of the key players in the market are Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Analog Devices, Inc. (U.S.), Dialog Semiconductor PLC (U.K.), Maxim Integrated Products, Inc. (U.S.), STMicroelectronics N.V. (Switzerland), and Linear Technology Corp. (U.S.), Renesas Electronics Corporation (Japan), Toshiba Corporation (Japan), among others.
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The global power management IC market has been segmented on the basis of product and application. Based on products, the power management IC market has been segmented into voltage regulators, motor control ICs, integrated ASSP power management ICs, battery management ICs, and others. Among these products, the integrated ASSP power management ICs segment includes energy management ICs, wireless charging ICs, power factor correction controllers, LED driver ICs, battery charging and management ICs, Hot-swap controllers and power-over-ethernet (PoE) controllers. The power management ASIC/ASSP segment is anticipated to dominate the global market during the forecast period owing to the increased use of these products in smart phones, laptops, tablets, and other portable devices.
On the basis of application, the power management IC market is segmented into automotive, consumer electronics, industries, telecom and networking, wearable and others. Among these, the consumer electronics segment offer lucrative opportunities for the market players and is anticipated to project the fastest growth compared to other applications during the forecast period.
Detailed Regional Analysis:
On the basis of region, the global PMIC market is segmented into North America, Europe, Asia-Pacific and the rest of the world. Among these regions, Asia-Pacific accounts for the highest share in the global power management IC market, owing to the rise in demand for automated devices and semiconductors in this region. The booming automotive industry is driving the market in the North America region. High adoption of smart portable devices is fueling the demand for PMIC, leading to the expansion of the power management IC market in the rest of the world.
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