Power management integrated circuits or PMICs are such integrated circuits that manage power requirements of the host system. PMIC comprises a broad range of chips and is included in battery-operated devices, such as mobile phones and portable media players to minimize the amount of occupied space. Power management ICs control the flow and direction of electrical power and perform more than one function such as various power conversions and power controls including under voltage protection and voltage supervision. Their incorporation in equipment helps to improve the overall design and operational efficiency with offering benefits like better conversion and heat dissipation.
The global Power Management IC Market is driven by factors such as increasing demand for energy-efficient devices. A dramatic rise in the consumption and cost of energy worldwide has forced consumers to save energy and devise methods to minimize environmental impacts caused by carbon emissions. This has increased the demand for power-saving electronic products in the market. Other market drivers are growth in smart home and smart grid technology, increasing processing power in computing and mobile devices, and increased adoption of smartphones and tablets.
Governments of most of the countries across the globe have started increasing their investments in the development of smart cities. Smart cities rely on public Wi-Fi networks to offer a number of services such as access to education and healthcare, infrastructure management, safety and security, traffic management, and waste and water management. These networks help citizens access the Internet on their smartphones and tablet computers. Such increase in the development of smart cities may also augment the demand for power management ICs in the coming years.
The complex integration with multi power system on chip (SoC) and the size of the PMIC are some of the factors that may restrain the growth of PMIC market for further growth.
The global power management IC market is expected to grow at a CAGR of 7% over the forecast period.
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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.
The global power management IC market is segmented on the basis of product, application and region. Based on the product, the market is classified into voltage regulators, motor control ICs, integrated ASSP power management ICs, battery management ICs, and others. Of these, power management ASICs is further sub-segmented as energy management ICs, wireless charging ICs, power factor correction controllers, LED driver ICs, battery charging & management ICs, Hot-swap controllers, and power-over-ethernet (PoE) controllers. The applications of the power management IC are found in automotive, consumer electronics, industries, telecom & networking, wearables and others.
Increasing electrification in vehicles such as hybrid and electric vehicles, is energizing the market for power management ICs in vehicles. Staying connected via smartphones and tablets is the modern way of life and to this end, today’s car drivers are opting for Bluetooth, cellular technologies, and other telematics functions. All these features require semiconductors to distribute and control power through vehicles. Intermediate safety milestones such as automatic emergency braking (AEB) is necessary to a road system that will accommodate self-driving cars. Other factors driving the market for power management ICs are the need for more fuel-efficient systems, a higher proportion of electric vehicles, and more electronic content per vehicle as required for improved vehicle emission levels.
The global power management IC market is led by Asia Pacific. The robust demand in this region from automotive industries may influence the global power management IC market growth. However, growing applications in the consumer electronics for power management ICs is expected to propel the growth of the market for power management IC market in next few years. The second-best growth is shown by North America due to booming automobile sector along with a number of semiconductor factories being based in the U.S.
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