Power Management IC Market Anticipated to Reach USD 59.12 Billion by 2030

The Power Management IC Market size was valued at USD 33.40 Billion in 2023 and the total Power Management IC's Revenue is expected to grow at a CAGR of 8.5% from 2024 to 2030, reaching nearly USD 59.12 Billion.

Power Management IC Market Overview:

The Power Management IC market is witnessing robust expansion, fueled by the surge in battery-operated devices and the integration of advanced technologies in consumer electronics. PMICs play a crucial role in optimizing power usage, enhancing device performance, and extending battery life, making them indispensable in today's tech-driven world. The growing adoption of renewable energy solutions, such as solar and wind power, further amplifies the demand for efficient power management systems.​

In India, the PMIC market is thriving, with a notable increase in imports reflecting the country's growing appetite for advanced electronic components. Between March 2023 and February 2024, India imported 13,990 Power IC shipments, marking an 18% growth compared to the previous year. This surge underscores India's position as a significant player in the global PMIC landscape.

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Power Management IC Market Dynamics:

The escalating demand for PMICs is largely attributed to the rapid advancements in the automotive sector, particularly the shift towards electric and hybrid vehicles. Modern vehicles require sophisticated power management solutions to support features like advanced driver-assistance systems (ADAS), infotainment, and enhanced safety mechanisms. PMICs ensure reliable and efficient power distribution, catering to the complex needs of contemporary automotive designs.​

Additionally, the proliferation of smart grid technologies and the emphasis on energy conservation have propelled the integration of PMICs in industrial applications. Governments worldwide are implementing policies and incentives to promote energy efficiency, further driving the adoption of PMICs across various sectors.

Power Management IC Market Outlook and Future Trends

The PMIC market is poised for sustained growth, with projections indicating a rise from USD 33.40 billion in 2023 to approximately USD 59.12 billion by 2030, growing at a CAGR of 8.5%. This trajectory is supported by the continuous evolution of consumer electronics, the expansion of renewable energy infrastructures, and the increasing complexity of power requirements in modern devices. ​

The Asia-Pacific region, in particular, is expected to maintain its dominance in the PMIC market, driven by rapid industrialization, technological advancements, and a burgeoning consumer base. Countries like China, Japan, and South Korea are at the forefront, leveraging their manufacturing capabilities and innovation to meet the growing global demand for efficient power management solutions. ​

Key Recent Developments:

Vietnam: Vietnam has emerged as a significant importer of Power ICs, with 50,075 shipments recorded, highlighting the country's expanding electronics manufacturing sector and its integration into global supply chains. ​

Thailand: Delta Electronics (Thailand) Public Company Limited has solidified its position as a regional hub for power management and electronic components. The company's focus on producing power systems for AI data centers, automotive applications, and telecommunications underscores Thailand's growing role in the global PMIC market.

Japan: Japan is projected to reach a PMIC market valuation of USD 3,037.1 million by 2030, reflecting the country's commitment to technological innovation and energy efficiency. The emphasis on developing advanced consumer electronics and automotive technologies continues to drive Japan's PMIC market growth. ​

South Korea: South Korea remains a key player in the PMIC landscape, contributing significantly to global exports and technological advancements in power management solutions. The country's robust semiconductor industry and focus on research and development bolster its position in the market.​

Singapore: Singapore's strategic investments in semiconductor manufacturing and its emphasis on innovation have positioned it as a vital contributor to the PMIC industry. The nation's initiatives to attract high-tech industries further enhance its role in the global market.​

United States: The U.S. power sector is experiencing a surge in mergers and acquisitions, driven by the increasing demand for electricity from data centers and AI applications. Notably, TE Connectivity announced plans to acquire Richards Manufacturing for approximately $2.3 billion, aiming to enhance its presence in the electrical utilities market.

Europe: In Europe, ABB has agreed to acquire the power electronics unit of Gamesa Electric in Spain, aiming to strengthen its position in renewable power conversion technology. The transaction, expected to be completed in the second half of 2025, reflects Europe's commitment to advancing renewable energy solutions. ​

Power Management IC Market Segmentation

by Product Type

Voltage Regulator
DC Regulators
Battery Management IC
Others

by End User

Automotive & Transportation
Consumer Electronics,
Industrial
Telecom & Networking
Others

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Some of the current players in the Power Management IC Market are:

North America:
1. Texas Instruments (USA)
2. Analog Devices (USA)
3. Vishay InterEnd User (Israel/USA)
4. ON Semiconductor (USA).
5. Qualcomm (USA)
6. Microchip End User (USA)
7. Mitsubishi Electric

Europe:
8. STMicroelectronics (Switzerland)
9. NXP Semiconductors (Netherlands)
10. Infineon Technologies (Germany)
11. Rohm Semiconductor (Germany)
12. Texas Instruments (USA)

Asia-Pacific:
13. Renesas Electronics (Japan)
14. Mitsubishi Electric (Japan)
15. Panasonic (Japan)
16. Texas Instruments
17. Toshiba (Japan)
18. Samsung Electronics (South Korea)
19. ROHM Co. Ltd. (Japan)
20. Murata Manufacturing (Japan)
21. STMicroelectronics (Switzerland)
22. Taiwan Semiconductor Manufacturing Company (TSMC) (Taiwan)
23. Fuji Electric (Japan)
24. Silergy Corporation (China)
25. Mitsubishi Electric

Middle East and Africa
26. Texas Instruments
27. Mitsubishi Electric

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