The Future of Power Management ICs: Trends and Market Insights

Power Management IC Market Growth & Trends

The global Power Management IC Market was estimated at USD 38.22 billion in 2023 and is expected to grow at a CAGR of 6.8% from 2024 to 2030. Power management integrated circuits (PMICs) are essential components in electronic devices that efficiently manage and control the flow of electrical power. They play a crucial role in optimizing battery life, improving device performance, and ensuring safe operation. PMICs are used in a wide range of applications, including smartphones, laptops, tablets, wearable devices, automotive electronics, industrial equipment, and consumer appliances.

The power management integrated circuit market is experiencing rapid growth due to several key trends. The demand for smaller, more portable electronic devices has driven the development of PMICs with reduced form factors and increased integration. As electronic systems become more complex, PMICs are required to handle diverse power requirements and provide advanced features such as fast charging and battery management. The growing focus on energy efficiency has led to the development of PMICs with higher efficiency and lower power consumption. In addition, the proliferation of IoT devices and the rapid growth of the EV market have created significant demand for PMICs to power various components and manage complex power requirements.

The power management IC market is subject to various regulations, including energy efficiency, safety, and electromagnetic compatibility (EMC). Manufacturers must ensure their products comply with these regulations to obtain market access. The Energy Star program sets energy efficiency standards for electronic products, including those using PMICs. Safety standards are essential to prevent electrical hazards, and organizations like UL and TÜV provide safety certifications. To minimize electromagnetic interference and ensure compatibility, PMICs must adhere to EMC standards governed by international standards like IEC 61000.

The power management IC market is driven by several factors. Technological advancements in semiconductor technology are enabling the development of PMICs with higher performance, lower power consumption, and smaller form factors. The increasing penetration of smartphones, tablets, laptops, and other electronic devices is driving the demand for PMICs. The trend towards electric vehicles and the increasing complexity of automotive electronics are creating new opportunities for PMICs to manage the power requirements of these systems. In addition, the shift towards renewable energy sources, such as solar and wind power, is driving the demand for PMICs to manage energy storage and distribution.

The power management IC market is witnessing significant growth opportunities driven by various trends. The Internet of Things (IoT) is expanding rapidly, creating a demand for PMICs to power a wide range of connected devices. Wearable technology, such as smartwatches and fitness trackers, is gaining popularity, requiring PMICs with small form factors and low power consumption. The transition to electric vehicles is driving the demand for high-performance PMICs to manage battery systems and other components. In addition, the increasing adoption of wireless charging technology is creating opportunities for PMICs with integrated wireless charging capabilities.

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Power Management IC Market Report Highlights

• The linear regulators segment dominated the market in 2023 and accounted for more than 25% share of global revenue.
• The consumer electronics segment dominated the market in 2023, due to the proliferation of portable electronic devices such as smartphones, tablets, wearables, and laptops.
• The power management IC market in North Americais expected to grow at a significant CAGR from 2024 to 2030, driven by the region's technological leadership, advanced industrial base, and strong focus on energy efficiency.

Power Management IC Market Segmentation

Grand View Research has segmented the power management IC market based on product, industry vertical, and region.

• Product Outlook (Revenue, USD Billion, 2017 - 2030)

• Linear Regulators
• Switching Regulators
• Battery Management ICs (BMICs)
• Power Supply ICs
• LED Drivers
• Reset ICs
• Others

• Industry Vertical Outlook (Revenue, USD Billion, 2017 - 2030)

• Consumer Electronics

• Smartphones and Tablets
• Laptops
• Televisions
• Wearables
• Others
• Automotive
• Engine Management
• Infotainment Systems
• Others
• Industrial
• Factory Automation
• Energy Management Systems
• Others
• IT & Telecommunications
• Servers
• Data Centers
• Networking Equipment
• Others
• Healthcare
• Others

• Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Middle East & Africa (MEA)
• United Arab Emirates (UAE)
• Kingdom of Saudi Arabia (KSA)
• South Africa

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