Power Management IC Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Linear Regulators Supervision, Sequencing, And Control, Battery Charging And Management, Switching Regulator, Others), By Industry Vertical (Manufacturing, Automotive, Consumer Electronics, Communication And Technology, Healthcare, Military And Defense, Others), And By Geography - Forecasts From 2023 To 2028

The power management IC market is expected to grow at a CAGR of 7.94% from US$35.891 billion in 2021 to US$61.255 billion in 2028.

The power management IC market is driven by several factors, including the increasing adoption of electronic devices and systems, rising demand for energy-efficient solutions, and the growing trend towards miniaturization and the integration of electronic devices and systems. The growth of these industries, particularly in emerging markets, is expected to drive the demand for power management IC. Linear regulators are widely used in applications such as audio amplifiers, LED drivers, and low-power sensors. Battery charging and management are commonly used in portable devices such as smartphones, tablets, and laptops. Hence, as more devices and systems become interconnected and digital, the demand for efficient and reliable power management solutions continues to grow. The increasing adoption of electronic devices and systems across a range of industries is driving the growth of the power management IC market.

 Increasing demand for energy-efficient products is augmenting the power management IC market. 

The prime factor predicted to drive the growth of the power management IC market is the increasing demand for energy-efficient products. This trend is driven by various factors, including concerns over climate change, rising energy costs, and the need to reduce carbon emissions. As consumers and businesses become more aware of the environmental impact of their actions, there is a growing demand for energy-efficient and environmentally friendly products. This has led to the development of a wide range of energy-efficient products, including appliances, lighting systems, heating and cooling systems, and other electronic devices. Power management ICs are critical in making these products energy-efficient by regulating power consumption, voltage regulation, and current flow.

Power management ICs can reduce energy waste, extend battery life, and lower energy costs by efficiently managing power consumption, making these products more attractive to consumers and businesses. For example, power management ICs are used in LED lighting systems to regulate the amount of current flowing through the LED chips, ensuring that they operate efficiently and last longer. They are also used in HVAC systems to regulate the compressor's speed, reducing energy consumption and lowering energy costs. Furthermore, the increasing use of renewable energy sources such as solar and wind power is creating new opportunities for power management ICs. These systems require efficient and reliable power management solutions to ensure optimal performance and maximize energy efficiency.

Market Developments:

• In June 2021, Nordic launched its first power management IC nPM1100 PMIC which combines USB compatible input regulator with overvoltage protection, a 400 mA battery charger, and a 150 mA DC/DC step-down (buck) voltage regulator in a 2.075 × 2.075-mm wafer level chip scale package (WLCSP).
• Power Global stated in October 2021 that it would invest US$ 25 million over the following two to three years in India to build a facility for producing lithium-ion batteries and infrastructure for battery swapping.

The switching regulator segment will witness robust growth during the projected period. 

A complicated design supports switching regulators, enabling them to manage greater power and generate a steady output voltage from a range of input voltages. As a result, they have become more popular recently, offering the user better efficiency and flexibility. Furthermore, the growing application of switching regulators in consumer electronics will further propel segment expansion during the forecast period. For instance, the US Census Bureau and CTA estimated that smartphone sales in the US reached US$74.7 billion in 2021. Additionally, the need for batteries has greatly expanded due to increased automation across several industries, driving market expansion. The market is also heavily influenced by innovation and the growing use of portable batteries and power banks.

According to the Ministry of Electronics & IT, India, over the next five years, the domestic market is anticipated to grow from US$65 billion to US$180 billion. By 2026, electronics will rank among India's top 2-3 exports due to this. This increase in the use of consumer electronics is anticipated to upsurge the switching regulator power management IC market.

North America accounted for a major share of the power management IC market.

The power management IC market has been segmented by geography into North America, South America, Europe, Middle East and Africa, and Asia Pacific.

Firstly, there is a growing demand for energy-efficient devices in the country, driving the adoption of power management ICs. The increasing popularity of electric and hybrid vehicles, for example, is driving the growth of the power management IC market in the automotive sector. Additionally, the growing adoption of IoT devices and connected systems is creating demand for power management ICs to manage power consumption and extend battery life. Another factor contributing to the growth of the US power management IC market is government regulations on energy conservation. For example, the Environmental Protection Agency (EPA) has implemented the ENERGY STAR program, which provides guidelines for energy-efficient consumer products. Compliance with these regulations is driving the adoption of power management ICs in various consumer electronics.

Power Management IC Market Scope:

Market Segmentation:

• BY TYPE
  • Linear Regulators Supervision
  • Sequencing and Control
  • Battery Charging and Management
  • Switching Regulator
  • Others
• BY INDUSTRY VERTICAL
  • Manufacturing
  • Automotive
  • Consumer Electronics
  • Communication and Technology
  • Healthcare
  • Military and Defence
  • Others
• BY GEOGRAPHY
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Taiwan
    • Indonesia
    • Others