Power Management IC market, as going by the trend, can gain impressive growth in the foreseeable future. The global power management IC market is expecting an 8.8% CAGR during the forecast period (2018-2023), by achieving USD 38,388.9 Mn, reveals Market Research Future (MRFR) in an elaborate study. Further, the study also includes drivers, segmental analysis and regional analysis to understand the market dynamics for the future.
Market Drivers & Challenges
The power management IC is known for having a broad range of chips that can be incorporated in battery-operated devices, such as mobile phones and portable media players. It has been observed that the rising miniaturing trend in the electronics industry impacting the PMIC market massively in a positive way. The factor has been counted amongst the prime, which is driving the market to explore more during the provided forecast period.
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The study reveals that the consumer electronics sector is a significant end-user of PMIC. Therefore, the need for efficiency in power, high density and flexibility in the design of power modules are also some of the influential factors supporting the market growth. Apart from this, the growth of silicon-carbide (SiC) and gallium nitride (GaN) is also likely to open new growth avenues for market players going forward in the forecast period.
On the flip side, the factor of, development issues mainly in the multi-power domain SoCs could raise limitation to the adoption rate of power management IC and could hinder the Power Management IC Market growth in the coming years.
The increasing focus of leading players in research and development for new product launch is triggering competition in the global power management IC market. In May 2018, Texas Instruments Inc. (U.S.) has launched their new product, 100-Mbps single-pair Ethernet PHY with SGMII support, which has enabled the simplification of space-constrained automotive designs.
Some of the prominent players of the global power IC 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.
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.
Global Power Management IC Market, By Region:
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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Key questions addressed by the report
- Which applications / segments provides the maximum growth opportunity?
- What are the emerging technologies and how it would disrupt the market?
- Who are the key players dominating the market, followed by other prominent vendors and strategies adopted by them?
- What was the market size and what would be the forecast in next few years?
- Regional and country attractiveness: mid to long term outlook?
- Market dynamics including trends, opportunities, drivers, challenges and how this would impact the market eco-system?
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