Power Management Integrated Circuit (PMIC) Market Recent Industry Developments And Growth Strategies Adopted By Players
The main types of products purveyed in the global power management integrated circuit (PMIC) market are voltage regulators, motor control IC, Integrated ASSP Power Management IC, Battery Management IC, Microprocessor Supervisory IC, etc. Savvy manufacturers are focusing mostly on the production of voltage regulators as their demand is maximum on account of the fast-expanding consumer electronics, automotive, and telecom and networking industries.
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A report by Transparency Market Research forecasts the global power management integrated circuit (PMIC) market to expand at a 5.8% CAGR from 2017 to 2025 to become worth US$ 62.71 bn by 2025.
Presence of Large Number of Consumer Electronics Manufacturers Propels Asia Pacific Market
Based on applications, the global power management integrated circuit (PMIC) market can be segmented into automotive, industry, consumer electronics, and telecom and networking, among others including medical electronics and military applications. Of them, the segment of consumer electronics leads the market on account of the massive sales of laptops, smartphones, PCs, tablets, and other consumer electric devices. In the years ahead too, the segment is predicted to retain its leading position. In terms of growth rate, however, the segment of telecom and networking is slated to outpace all others by clocking a 6.1% CAGR between 2015 and 2025.
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Geography-wise, the key segments of the global power management integrated circuit (PMIC) market are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific, among them, accounts for a leading share in the market vis-à-vis revenue. This is mainly on account of the concentration of a large number of consumer electronics manufacturing and automobile companies in this region. In the foreseeable future too, the market in Asia Pacific is expected to make gigantic strides, powered primarily by China – the hotbed for technological developments. The region grossed a revenue of US$14.81 bn in 2016.
Efforts to Reduce Power Loss during Distribution Fuel Sales
The rising demand of battery operated devices in consumer electronics, automobiles, and telecom and networking, among others, have been at the forefront of fuelling growth in the global power management integrated circuit market (PMIC). Apart from that, the rising concerns pertaining to loss of power and energy during distribution has also led to the growth in the market.
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“Power Management Integrated Circuit (PMIC) is an integrated circuit that helps manage power requirements of the host system. This IC type manages the flow of power from various power sources such as USB, batteries, and wall adapters, while maintaining the current limit. They can be used in everything from consumer electronics such as smartphones, Bluetooth headsets, and MP3 players to portable industrial and medical equipment. These ICs are getting cheaper and smaller due to advancements in technology. Additionally, devices equipped with power management ICs tend to be smarter and more efficient, as they regulate the flow of power from in and out of the device. Therefore, the demand for such devices is increasing rapidly,” explains the lead analyst of the TMR report.
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