Power Management IC Market (PMIC) Market By Type (Voltage Regulators, Battery Management ICs, Motor Control ICs and Integrated ASSP (application-specific standard product), By Industry Verticals (Electronics, Automotive, Telecommunications and Others (Defense and aerospace, railway and healthcare) Industry trends, Estimation & Forecast, 2016 – 2024
Power Management IC Market is expected to reach $61.33 billion by 2023, with CAGR of 6.4%. The voltage regulators segment is highest revenue generating segment of power management IC market.
Power Management IC (PMIC) is a semiconductor electronic component which manages the power requirement of host system in any device. It operates by managing the flow of power from different sources such as, batteries, and USB and wall adaptors. These integrated circuits are gaining popularity and witnessing increased demand across different application sectors such as consumer electronics, automobiles, industrial, medical and medical instruments. Power management, system control, battery management, interface & audio functions, and other system specific functions are key features of PMIC which helps it to achieve optimum power integration.
Need for longer battery life, evolving awareness about energy efficiency, and decline in per unit price of PMIC are key elements fueling the growth of global PMIC market. In addition applications in automobiles, Smartphone, tablets and others portable handheld devices are expected to spur the market throughout the forecast period. Owing to tremendous growth in Smartphone and automobile industry, the global PMIC market is expected to grow at 6.4% CAGR.
The complex integration with multi power system on chip (SoC) and the size of the PMIC are some of the factors that might restrain the growth of PMIC market for further growth.
Increasing efficiency of power management IC and evolving application in numerous sectors are prime opportunities forecasted for global PMIC market. Further, automation in automobiles and growing smart cities will also help in growth of global PMIC market.
The global PMIC market is identified by high competition among present vendors. The market is highly versatile and key vendors compete on the basis of pricing, product innovation, quality and performance of the IC. Growing research and development in PMIC sectors backed with high investment will further intensify the competition. For instance, MediaTek Labs launched New HDK and Extend the LinkIt™ Development Platform for RTOS to Wearables on October 2016.
Global PMIC market is segmented on the basis of product, application, and geography. Product segmentation is further segmented into voltage regulators, motor control ICs, integrated ASSP power management ICs, battery management ICs, and others. Automotive, consumer electronics, industries, telecom & networking, and others are segments based on application categorization. The market is segmented based on four regions, namely North America, Europe, Asia-Pacific, and Rest of World (RoW).
Some of key players such are Dialog Semiconductor PLC, Linear Technology, Maxim Integrated, Mitsubishi Electric, ON Semiconductor Corp., Renesas Electronics Corp, Rohm Co Ltd., Semtech Corporation, STMicroelectronics N.V., and Texas Instruments Inc.
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KEY MARKET SEGMENTS
Motor control ICs
Integrated ASSP Power Management ICs
Battery Management ICs
Telecom & Networking
Dialog Semiconductor PLC
ON Semiconductor Corp.
Renesas Electronics Corp
Rohm Co Ltd.
Texas Instruments Inc.