Power Management Integrated Circuits (PMICs) Market: 2018 Industry Analysis, Size, Trends, Growth and Forecast 2026
Power management integrated circuit (PMIC) solution providers have exploited the wide range of integrated circuit demands in space-constrained applications. Revenue streams in the power management IC market are driven by the need for high power density and configurable power management design in compute intensive platforms, note Transparency Market Research. Key players have seen new opportunities from the constant flow of wearable devices, sensors and the Internet of Things across multiple industry verticals. They quickly unveil solutions that increase programmability, maximize performance per watt, and reduce power dissipation.
Some of the companies that have been at the forefront of revenue in the PMIC market are Maxim Integrated Products, Texas Instruments, Inc., ON Semiconductor Corporation, Mitsubishi Electric Corporation, STMicroelectronics NV and Analog.
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The global PMIC market is expected to reach $ 56.48 billion by the end of 2026, with a CAGR of 4.6% from 2018 to 2026.
Rapid adoption of portable consumer electronics fuel application
Automotive manufacturers and industrial sectors adopting voltage converters and regulators are key factors propelling the expansion of the global PMIC market. Around the world, there has been substantial adoption of PMICs extending battery life and reducing power dissipation in many of the compact devices hitting consumer markets. Over the years, various emerging consumer markets have seen an increase in these devices. A big boost for the business proposition for PMICs comes from the proliferation of sales of these consumer electronics products, especially smartphones.
Semiconductor devices with configurable and programmable functionality are gaining ground among electronics manufacturers in various parts of the world. One example is the growing popularity of field programmable gate arrays and system-on-chip semiconductor integrated circuits.
Flurry of connected mobile devices reflect on promising avenues in emerging markets
Several of the growth factors mentioned above are the main characteristics of emerging markets, particularly Asia-Pacific. In fact, the report predicts that the Asia-Pacific PMIC market will grow at a CAGR of 5.5% from 2018 to 2026. The growing demand for Li-ion battery applications in wearable devices among regional consumers has catalyzed increased opportunities in the regional market. . In addition, growth has been fueled by the rapid applications of PMICs in the automotive industry.
The deluge of connected mobile devices has kept Asia-Pacific’s prospect substantially lucrative in the global PMIC market for the past several years. In addition, the growing demand for PMIC in networking devices in major economies in the region has also opened up new prospects in the market.
The growing demand for energy efficient products has propelled the popularity of low power PMICs. The adoption has been increasingly driven by government regulations aimed at optimizing the power consumption and heat dissipation of consumer electronics. Advances in wearable devices have also boosted a high level of chip integration, unlocking new potential in the global PMIC market. Semiconductor companies looking for solutions that reduce a device’s standby power consumption have broadened the scope of innovations in the market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Power Management Integrated Circuit (PMIC) Market (Product – Voltage Regulators, Motor Control IC, Management IC) integrated ASSP power supply, battery management integrated circuit, microprocessor supervision integrated circuit); End Use – Automotive, Consumer Electronics, Industry, Telecommunications, and Networks) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018-2026.
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