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Burgeoning Demand for Energy Efficient Electronics to Drive Demand for Power Management ICs, says TMR

Posted on Sep 16, 2016

The global power management integrated circuits (PMIC) market is highly fragmented as there are a large number of players competing to provide better and inexpensive PMIC systems, reports Transparency Market Research in a new study. As a result of the rivalry among the leading players in the global PMIC market, the pressure on chip manufacturers, design labs, distributors, and foundries is increasing eventually as the demand for technologically advanced ICs is significantly rising. The top four companies in the global power management IC market, Texas Instruments, STMicroelectronics, Infineon Technologies, and Mitsubishi, accounted for approximately 42.5% of the global revenue share in 2013. 

The global power management IC market is expected to exhibit a 6.1% CAGR between 2013 and 2019. The market was valued at US$36.80 bn in 2015 and is projected to rise to a valuation of US$46.0 bn by the end of 2019. Based on application, the automotive and transportation segment is expected to maintain a lead in the global power management IC market with a share of 28.39% by 2019. Owing to the features of power management ICs such as better functionality and power management, their demand is significantly increasing in the automotive sector. PMICs are important components used in the manufacturing of cost-effective devices with enhanced battery life. The requirement for PMICs in the automotive industry is significantly high as these are essential in air conditioning, electro-hydraulic power steering, power adjustable seats, convertible roofs, and high-end stereo systems.

Asia Pacific to Lead until 2019 Owing to High Demand for Consumer Electronics

Based on geography, Asia Pacific is expected to emerge dominant in terms of consumption of PMICs with a projected global share of US$22.36 bn by the end of 2019. In 2015, the market for power management ICs was valued at US$17.13 bn. Owing to the flourishing automotive and consumer electronics sectors in countries such as India, Malaysia, Singapore, Korea, Japan, and China, the power management IC market in Asia Pacific is anticipated to exhibit considerable growth in the coming years. The growing demand for personal computers, laptops, and smartphones is further expected to help the sales of power management ICs in the Asia Pacific region.

High Demand for Portable Devices to Boost Sales of Power Management ICs

With the rise in disposable income of consumers, their purchasing power is also considerably increasing. As a result of this, the sales of portable devices across the world have increased significantly. PMICs are used in smartphones and other consumer electronic goods for improving battery life and enhancing performance. PMIC are also considered as potential power solutions for handheld industrial and medical devices, navigation devices, and media players. They are also useful in simplification of product design and decreasing bill of materials. PMICs also help in developing integrated functions such as LED drivers, cell backup power supply, backlight, power audio interface, and touch screen. Owing to all these features and the rise in the demand for portable devices, the sales of power management ICs are anticipated to rise over the next couple of years.

Complex Structure of Power Management ICs to Restrain their Adoption

Numerous single functioning power management integrated circuits are required in the development of a single power management section in an electronic system. As a result of this, the cost of inventory and assembly increases substantially. For instance, a power rail in a circuit board has different PMICs to manage rail voltage and board power. This leads to a rise in complexity and cost. This factor is anticipated to impede the growth of the global PMIC market.

However, use of PMICs in the construction of smart buildings and wide use in energy harvesting applications is likely to provide manufacturers with lucrative future growth opportunities. To maintain a stable position in the global PMIC market, manufacturers are likely to focus on product quality enhancement through research and development activities and price strategies.

The review is based on a TMR report titled, “Power Management IC Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2013 - 2019.”

The global PMIC market is segmented as follows:

Power Management IC Market, by Product Type

  • Voltage regulators
  • Motor control IC
  • Integrated ASSP Power Management ICs
  • Battery Management ICs
  • Others(switching controllers, power factor correction, gate drivers etc)

Power Management IC Market, by Applications

  • Automotive
  • Consumer Electronics
  • Industrial
  • Telecom and Networking
  • Others (military, medical electronics, etc.)

Major regions analyzed under this research report are: 

  • Europe
  • North America 
  • Asia Pacific 
  • Rest of the World 

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