Market Insight —
The global power management IC market is cementing its foothold due owing to the traction generated by information and communication sector globally, thus expecting an exponential expansion with 8.8% CAGR during the forecast period (2018-2023), declares Market Research Future (MRFR). The valuation of the market is also recorded as USD 38,388.9 Mn to achieve in the same period. The study encompasses several thriving factors and drivers that are contributing to the market’s growth in the present as well as in the future. PMIC includes a broad range of chips and can be integrated into battery-operated devices, such as mobile phones and portable media players.
Market Drivers & Trends
According to the report published by MRFR, the rising miniaturing trend in the electronics industry has a massive impact which is the chief Power Management IC Market influencer. Apart from the information and communication sector, it is also getting popular with consumer electronics sector being a significant end-user of PMIC, which can be a great boon for the global power management IC market.
On the other hand, the factors such as the need for efficient power, high density and design flexibility of power modules are supporting the market growth inevitably. At the same time, the growth of silicon-carbide (SiC) and gallium nitride (GaN) are also likely to open new growth opportunities for market players going forward and acquire more valuation. On the flip side, the factor of development issues in multi-power domain SoCs can limit the adoption rate of power management IC in the coming years, thus restricting the market growth in the forecast period.
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Texas Instruments Incorporated., Toshiba Corporation, Renesas Electronics Corporation, Analog Devices, STMicroelectronics, Maxim Integrated, Infineon Technologies AG, NXP Semiconductors, Dialog Semiconductors, and ON Semiconductor.
The power management IC market is influenced by various macro-economic elements such as rapid technological change, rising demand for efficient consumer electronics, and fluctuations in currency exchange rates. Therefore, it is important for market keep a dynamic approach and compete on parameters such as price, quality and credibility.
The report covers the development strategies adopted by the companies between 2015 to 2018.
MRFR’s study includes a detailed segmental analysis of global power management IC market based on product and application.
By the mode of product, the market has included various segments such as integrated ASSP power management IC, motor control IC and voltage regulators. The integrated ASSP power management segment is further sub-segmented into battery management IC, LED drivers ICs, PFC controllers hot-swap controllers, wireless charging ICs, energy management ICs, PoE controllers. The segment is likely to remain extremely attractive during the estimation period and post a CAGR of 9.3% as there was an uptick in the adoption of integrated ASSP power management IC for its high-performance characteristics.
By the mode of application, the market included consumer and wearable electronics, telecom and networking and automotive. The consumer and wearable electronics segment, therefore, stood at a valuation of USD 9,275.6 Mn in 2017 and is now expected to remain highly attractive in 2019 and would expand at a striking pace over the next couple of years. Sales of consumer and wearable electronics such as smartwatches, cameras, smartphones, TVs, laptops and fitness bands have consistently grown in recent years, which have been driving the segment’s growth.
Global Power Management IC Market, By Region:
According to regional analysis, the study of global power management IC market has covered the main regions of North America, Europe, Asia Pacific, Latin South America and the Middle East & Africa (MEA).
Among these, in 2017, Asia Pacific (APAC) held for the largest market share in terms of value and is now anticipated to witness a CAGR of 8.9% in the forecast period. APAC region is led by China that offers lucrative market avenues and is the go-to destination for all the market players related to the market. Economic surge and incidence of a massive semiconductor industry are some of the key factors boosting the market share in the region. Furthermore, the incidence of a large number of wafer fabrication manufacturers is also contributing the market growth in APAC. China makes a noteworthy contribution to the global semiconductor component supply, which characterizes its strong position in the market.
In North America region, the power management integrated circuit market is increasing at an extensive rate, as the Brazilian government is doing hard work to attract prominent companies to invest in their production plans of semiconductor plants. Furthermore, the companies involved in these plans will be exempted from federal taxes, such as ISS, COFINS, and PIS. Additionally, this region is also witnessing the intensifying demand for energy-efficient LED lights, portable devices, and electric vehicles, which will likely to drive the power management IC market in the future.
The European region is likely to drive the market over the forecasted period due to the rising number of R&D activities witnessed in the automation sector and portable devices for achieving more energy efficiency. Even the manufacturers in the European region are developing customized solutions in intergraded circuits to meet the developing demand in various industrial applications.
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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?
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Release ID: 88926890