Introduction
The demand for Power Management Integrated Circuits (PMIC) is growing continuously due to the increasing demand for consumer electronic devices, such as smartphones, tablets and smart TVs, in most of the established and growing economies. A radical rise in the consumption and cost of energy in the world has forced consumers to save energy and devise methods to minimise the environmental impacts caused by carbon emissions.
Due to this, the demand for power-saving electronic products has increased, which is fuelling the growth of the Power Management Integrated Circuit (PMIC) market. Moreover, the Power Management Integrated Circuit (PMIC) market is expected to gain traction in the coming years due to an increase in the demand for Power Management Integrated Circuits (PMICs) for use in the battery-powered devices used in the healthcare and telecommunication sectors.
The Industrial Revolution 4.0 is Completely Transforming Various Industry Verticals in Developed as well as Developing Economies
The global Power Management Integrated Circuit (PMIC) market is segmented based on application and region. Based on application, the global Power Management Integrated Circuit (PMIC) market is sub-segmented into automotive, communication equipment, enterprise systems and industrial & personal electronics.
Due to an increase in the number of electric vehicles, the automotive segment is expected to create potential growth opportunities for the vendors of Power Management Integrated Circuits (PMICs). Power Management Integrated Circuits (PMICs) are used in electric vehicles to manage extreme battery voltage fluctuations, support system security functions, extend the battery life of vehicles and integrate mobile technologies with vehicles.
Moreover, the demand for Power Management Integrated Circuits (PMICs) is growing continuously due to the increasing demand for consumer electronic devices, such as smartphones, tablets and smart TVs, in various regions. Moreover, the Power Management Integrated Circuit (PMIC) market is expected to gain traction in the coming years due to an increase in the demand for Power Management Integrated Circuits (PMICs) for battery-powered devices used in the healthcare and telecommunication sectors.
Continuous Expansion of the Internet of Things (IoT) Ecosystem in Various Countries is One of the Major Factors Driving the Power Management Integrated Circuit (PMIC) Market
The adoption of next-generation and advanced technologies, such as 5G wireless, Internet of Things (IoT), sensors & modules and carrier-grade Wi-Fi, in manufacturing processes is gaining traction. Due to these factors, the automotive sub-segment is expected to create an incremental opportunity of US$ 4,369.6 Mn during the forecast period. In addition, the automotive industry is completely moving towards next-generation vehicle technologies such as vehicle-to-vehicle communication, driverless vehicles, electric vehicles and others.
The Discrete Manufacturing Industry is Becoming a Key Source of Demand for Power Management Integrated Circuits (PMICs)
Power Management Integrated Circuits (PMIC) are used in various fields, such as railways and transportation systems, industrial motion control, factory automation, power generation systems and others, as power management devices offer efficient power transfer among devices. Today, industries in countries such as India, China, Germany, the U.S., France and the U.K., are moving towards digitisation and are creating ideal conditions for manufacturing & automation.
The Adoption of Energy Efficient Consumer Electronic Devices is Boosting the Global Power Management Integrated Circuit (PMIC) Market
Power Management Integrated Circuits (PMICs) are used in laptops, personal desktops, data communication systems as well as in various electronic devices to improve energy efficiency and for the optimised conversion of voltage from one level to another.
Power Management Integrated Circuits (PMICs) are witnessing a significant adoption across the globe due to the increasing usage of consumer electronic devices, such as laptops, computers and connected devices, in countries such as China, India, Japan, Singapore, United Arab Emirates (UAE), Poland, the U.K., Germany and Russia, which is a key factor driving the Power Management Integrated Circuits (PMICs) market.
Asia Pacific is Expected to Grow at a High CAGR during the Forecast Period Due to Increasing Foreign Direct Investment and Increasing Commitment to 5G Technologies in India & China
Geographically, the Asia Pacific Power Management Integrated Circuit (PMIC) market is expected to grow at a high CAGR during the forecast period owing to factors such as the ongoing technological advancements in the manufacturing sector and the increasing penetration of high-speed internet connectivity. China and India are among the major contributors to the growth of the Asia Pacific Power Management Integrated Circuit (PMIC) market.
Growth in digitisation and automation in India and China is one of the major factors contributing to the growth of the Power Management Integrated Circuit (PMIC) market in these countries. As present, China is the most connected country in the world. Moreover, the Chinese government is undertaking initiatives to develop connected infrastructure. In addition, India is one of the fastest-growing economies in the world and the government is creating a favourable business environment for foreign investors.
Owing to these factors, Asia Pacific is one of the prominent investment areas for the vendors of Power Management Integrated Circuits (PMICs). Moreover, the North America region is becoming a key source of demand for Power Management Integrated Circuits (PMICs) because the adoption of advanced automation systems in North America is high as compared to other regions.
Market Participants
According to FMI analysis, business partnerships with other Power Management Integrated Circuit (PMIC) manufacturers and long-term business contracts are projected to help the vendors of Power Management Integrated Circuits (PMICs) increase revenue from the market. In addition, new innovation strategies and research & development strategies will enable them to benefit from the new growth opportunities available in the Power Management Integrated Circuit (PMIC) market.
Some of the major market participants profiled in the global Power Management Integrated Circuit (PMIC) market report are: ON Semiconductor Corporation, Texas Instruments, NXP Semiconductors N.V., STMicroelectronics, ROHM Semiconductor, Analog Devices, Inc., Renesas Electronics Corporation, Maxim Integrated, Infineon Technologies AG, Cypress Semiconductor Corporation, Skyworks Solutions, Inc., Microchip Technology Inc., Semtech Corporation and Samsung.
Key Segments
By Application
- Automotive
- Communication Equipment
- Enterprise Systems
- Industrial
- Personal Electronics
Key Regions
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Nordic
- BENELUX
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- APEJ
- China
- India
- Australia & New Zealand
- ASEAN
- Rest of APEJ
- Japan
- MEA
- GCC Countries
- Israel
- South Africa
- Rest of MEA
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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