Size of the power management ICs market worth $55,042.7 million, globally, by 2028 at a CAGR of 5.5%
NEW YORK, January 11, 2022 /PRNewswire/ — According to the new market research report “Power Management ICs Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Product Type (Voltage Regulators, Power Motor, Battery Management, Multi-Channel ICs and Others) and End Use (Consumer Electronics, Automotive, Healthcare, IT & Telecom, Industrial, and Others)”, published by The Insight Partners, the global market for power management ICs food should change from US$37,772.0 million in 2021 for $55,042.7 million by 2028; it is estimated to grow at a CAGR of 5.5% between 2021 and 2028.
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Power Management ICs Market: Competitive Landscape and Key Developments
NXP Semiconductors; Analog Devices, Inc.; Infineon Technologies AG; Rohm Co., Ltd. ; Microchip Technology Inc.; Vishay Intertechnology, Inc.; Renesas Electronics Corporation; STMicroelectronics; Texas Instruments Incorporated; and Qorvo, Inc. are some of the key players profiled during this market research. In addition to these players, several other key market players have also been researched and analyzed to gain a comprehensive view of the global Power Management Integrated Circuits market and its ecosystem.
As part of the expansion of the product portfolio in driver surveillance camera processors, Renesas has launched a secure seven-channel power management integrated circuit (PMIC), which promises to reduce the cost system, power loss and design time.
In August 2021Renesas Electronics Corporation’s new in-car infotainment solution includes a combination of Dialog’s PMIC and CMIC with Renesas’ R-Car automotive SoCs, timing ICs and buck regulators.
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Power management ICs are responsible for controlling the direction and flow of electrical power. These PMICs find significant application in various industry verticals, such as telecommunications and networking, consumer electronics, automotive, and transportation. The demand for many consumer electronics such as mobile phones, laptops, notebooks, televisions, washing machines, refrigerators and air conditioners is increasing globally, which is expected to boost the demand embedded PMICs, high power PMICs, and monolithic PMICs.
The automotive and transport sector contributes to the growing demand for Power Management ICs Market. Advanced Driver Assistance Systems (ADAS), vehicle infotainment, navigation system, battery management, telematics, and automotive clusters require high-efficiency power management ICs. Government subsidies, incentives and tax exemptions are driving electric vehicle sales around the world. Such encouragement from government authorities, along with strict emission standards, is accelerating the demand for electric vehicles and respective power management ICs. With the rapid advancements in Internet of Things (IoT) technology, connected devices tend to increase remarkably in the coming years.
The impact of COVID-19 differs from country to country Europe, as some countries have seen an increase in COVID-19 cases and subsequently attracted strict and longer periods of lockdown or social isolation. countries such as Germany, ItalyGreat Britain, Russia, Franceand Turkey were the most affected by various restrictions and limitations. The European automotive industry has been badly affected and has seen a decline of more than 20% in overall automotive production due to severe supply chain disruption caused by the imposed lockdowns. The automotive industry is one of the largest markets for power management ICs. However, with the growing demand for electric vehicles in the region, the post-COVID-19 pandemic outlook for the automotive industry looks favorable. With incomes falling, shoppers have opted to buy basic necessities, such as housewares and groceries, instead of non-essential and expensive purchases such as home theaters and LCD TVs. Other industries that deploy power management ICs, such as electrical/electronics, manufacturing and construction, and telecommunications networking, also saw weak demand.
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Rise in demand for battery-powered devices to propel the growth of the Power Management IC Market:
The use of battery-powered devices is increasing in various developing countries with increasing urbanization. A few portable battery-operated devices are camcorders, cameras, medical instruments, personal digital assistants, power tools, and portable GPS devices. The 14-channel power management IC finds significant use in wireless audio, voice recognition assistant, AV receivers and soundbars. An intelligent power management IC is widely used in camera modules, optical modules, and solid-state drives (SSDs). In 2020, 2.3 million DSLR camera units were shipped worldwide. The increase in DSLR camera shipments would create the need for PMIC. In 2020, Renesas Electronics Corporation introduced ISL78083, a power management IC for multiple HD camera modules. Moreover, the use of highly integrated PMICs is expanding significantly in various wearable medical devices. Since the Nordic nPM1100 power management ICs offer an extremely compact form factor, its requirements increase for many connected medical devices. The adoption of such battery-operated devices will drive the growth of power management ICs.
Power Management ICs Market: Overview of Voltage Regulators
A voltage regulator is a circuit that produces and maintains a constant output voltage, regardless of input voltage or load conditions. The voltages of a power source are maintained within a range compatible with other electrical components by voltage regulators (VR). While voltage regulators are typically used to convert direct current to direct current, some can also convert alternating current to alternating current or alternating current to direct current. Voltage regulators are used in cost-sensitive, noise-sensitive, low-current, and space-constrained end users, such as consumer electronics. A linear regulator can be used in a hearing aid because it does not include a switching element that could emit unwanted noise and interfere with the performance of the device. Some of the major voltage regulator suppliers are ROHM CO., LTD. and Rhopoint Components.
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