In the latest report by Future Market Insights, the lead research consultant estimates the global Power Management Integrated Circuit Market value to reach USD 31.2 billion in 2024.
The upward trajectory will continue securing growth, with projections indicating a market value of USD 57.9 billion by 2034. This equates to a moderate CAGR of 6.4% through the forecast period.
| Attributes | Key Insights |
|---|---|
| Power Management Integrated Circuit Market Estimated Size in 2024 | USD 31.2 billion |
| Projected Market Value in 2034 | USD 57.9 billion |
| Value-based CAGR from 2024 to 2034 | 6.4% |
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The scope for power management integrated circuit rose at a 4.2% CAGR between 2019 and 2023. The global market is achieving heights to grow at a moderate CAGR of 6.4% over the forecast period 2024 to 2034.
The market experienced significant growth during the historical period, attributed to the rapid technological advancements and innovations in semiconductor industry.
The proliferation of smartphones, tablets, wearables, and other consumer electronics had also augmented the demand for power management integrated circuits with enhanced power efficiency and integration features.
The automotive industry experienced a shift towards electric vehicles and hybrid vehicles, which created opportunities for circuit manufacturers to supply power management solutions for battery systems, electric drivetrains, and onboard electronics.
The forecast period will experience increased market penetration of power management integrated circuits, driven by widespread deployment of 5G networks.
The electrification trend in transportation, coupled with investments in smart grid technologies, will create opportunities for circuit manufacturers to supply power management solutions for electric vehicles, charging infrastructure, and smart grid deployments.
Ongoing digitalization of industries and the adoption of Industry 4.0 technologies will drive demand for circuits in factory automation, robotics, and industrial IoT applications, where efficient power management is critical for operational efficiency and productivity.
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The below table showcases revenues in terms of the top 5 leading countries, spearheaded by Australia and China. The countries will lead the market through 2034.
| Countries | Forecast CAGRs from 2024 to 2034 |
|---|---|
| The United States | 3.2% |
| Germany | 1.8% |
| China | 6.9% |
| Japan | 1.1% |
| Australia | 9.9% |
The power management integrated circuit market in the United States will expand at a CAGR of 3.2% through 2034. The country is one of the largest markets for consumer electronics, including smartphones, tablets, laptops, wearables, and smart home devices.
The growing adoption of these devices drives demand for power efficient power management integrated circuits to optimize battery life, improve performance, and support advanced features such as fast charging and wireless connectivity.
The proliferation of IoT devices and smart home technologies in the United States creates opportunities for the circuit manufacturers. The circuits enable efficient power management, sensor interfacing, and connectivity functions in IoT devices such as smart thermostats, security cameras, voice assistants, and connected appliances.
The power management integrated circuit market in Germany to expand at a CAGR of 1.8% through 2034. Germany is a global leader in renewable energy adoption, with a strong focus on wind, solar, and biomass energy sources.
The circuits play a crucial role in renewable energy systems for power conversion, energy storage management, and grid integration.
The transition towards a sustainable energy infrastructure creates opportunities for circuit manufacturers to supply solutions for solar inverters, energy storage systems, and smart grid deployments. The country is renowned for its automotive industry, which includes manufacturers such as Volkswagen, BMW, Mercedes-Benz, and Audi.
The increasing adoption of electric vehicles, hybrid vehicles, and advanced driver assistance systems propels demand for the power management integrated circuits in automotive applications.
The circuits are essential for managing power distribution, battery charging, and motor control in electric and hybrid vehicles, supporting the electrification and automation trends in the automotive sector.
Power management integrated circuit trends in China are taking a turn for the better. A 6.9% CAGR is forecast for the country from 2024 to 2034. China is witnessing rapid growth in the Internet of Things and connectivity market, driven by applications such as smart cities, industrial automation, healthcare, and agriculture.
The circuits enable efficient power management, sensor interfacing, and wireless connectivity in IoT devices, supporting efforts of China to build a connected ecosystem of smart devices and sensors. The Chinese government has been actively supporting the development of the semiconductor industry through investment incentives, research funding, and policy support.
Initiatives such as the "Made in China 2025" strategy and the National Integrated Circuit Industry Investment Fund promote domestic semiconductor manufacturing, design, and innovation, driving growth in the market in China.
The power management integrated circuit market in Japan is poised to expand at a CAGR of 1.1% through 2034. Japan is known for its advanced technology development, research institutions, and collaborative research and development efforts.
Collaboration between industry players, academic institutions, and government agencies fosters innovation in the circuit design, packaging, and manufacturing processes.
The focus of the country on technological innovation and research excellence contributes to the development of cutting edge power management solutions. Japan is a leader in industrial automation, robotics, and factory automation technologies.
The circuits enable efficient power management, motor control, and sensor interfacing in industrial automation applications, supporting the growth of smart factories and Industry 4.0 initiatives. The demand for power management solutions is driven by manufacturing prowess and the need for energy efficient automation solutions in Japan.
The power management integrated circuit market in Australia will expand at a CAGR of 9.9% through 2034. The adoption of electric vehicles is gaining traction in Australia, driven by factors such as environmental concerns, government incentives, and advancements in EV technology.
The circuits are essential components in EV charging infrastructure, battery management systems, and powertrain control units, supporting the growth of the electric mobility ecosystem in Australia.
Australia is investing in smart grid technologies and energy management systems to improve grid reliability, optimize energy distribution, and support demand side management initiatives.
The circuits play a crucial role in smart grid deployments for monitoring, control, and optimization of power distribution, voltage regulation, and energy storage, contributing to more efficient and resilient electricity networks.
The below table highlights how voltage regulator ICs segment is leading the market in terms of IC type, and will account for a share of 35.6% in 2024. Based on product, the low power PMIC is gaining heights and will to account for a share of 54.3% in 2024.
| Category | Shares in 2024 |
|---|---|
| Voltage Regulator ICs | 35.6% |
| Low Power PMIC | 54.3% |
By product, the low power PMIC segment will dominate the power management integrated circuit market. Wearable devices such as smartwatches, fitness trackers, and healthcare monitors rely on compact and energy efficient circuits to support their functionality while maintaining a small form factor and prolonged battery life.
There is a growing need for power efficient circuits to prolong battery life and enhance overall device performance, with the proliferation of smartphones, tablets, wearables, and other portable electronic devices.
Manufacturers are integrating advanced features such as adaptive voltage scaling, dynamic power management, and ultra low power standby modes into the circuits to meet the evolving requirements of modern electronic devices. The features enhance efficiency and extend battery life, further accelerating the demand for low power the circuits.
In terms of IC type, the voltage regulator ICs segment will dominate the power management integrated circuit market. Technological advancements in semiconductor fabrication processes have led to the development of voltage regulator ICs with improved performance, higher power density, and better thermal management capabilities.
The advancements enable the design of more efficient and reliable voltage regulators to address the evolving requirements of modern electronic systems. The increasing adoption of electronic devices across various industries, including consumer electronics, automotive, industrial automation, and telecommunications, is propelling the demand for voltage regulator ICs.
The ICs are essential for stabilizing and regulating the voltage supplied to sensitive components within these devices, ensuring reliable operation.
The power management integrated circuit market is characterized by intense competition among key players striving to maintain or enhance their market share through strategic initiatives, product innovation, and differentiation strategies.
Key Development
| Attribute | Details |
|---|---|
| Estimated Market Size in 2024 | USD 31.2 billion |
| Projected Market Valuation in 2034 | USD 57.9 billion |
| Value-based CAGR 2024 to 2034 | 6.4% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD Billion |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Market Segments Covered | Product, IC Type, End Use Industry, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Texas Instruments; Analog Devices; ON Semiconductor; Renesas Electronics; Microchip; Circuito Integrado S.A.; Dialog Semiconductor; STMicroelectronics; NXP Semiconductors; Infineon Technologies; Richtek Technology; Qualcomm Technologies; MediaTek; Samsung Electronics; Fujitsu; Toshiba Electronic Devices & Storage Corporation; ROHM Semiconductor; Vishay Intertechnology; Semtech Corporation |
The power management integrated circuit market is projected to reach a valuation of USD 31.2 billion in 2024.
The power management integrated circuit industry is set to expand by a CAGR of 6.4% through 2034.
The power management integrated circuit market is forecast to reach USD 57.9 billion by 2034.
Australia is set to be the top performing market, exhibiting a CAGR of 9.9% through 2034.
Low power PMIC segment is preferred, and will account for a share of 54.3% in 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Voltage Regulators 5.2. Motor Control ICs 5.3. Battery Management ICs 5.4. Multi-Channel PMIC 5.5. Other Products 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User 6.1. Automotive 6.2. Consumer Electronics 6.3. Industrial 6.4. Communication 6.5. Computing 6.6. Other End-Users 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Texas Instruments Incorporated 17.2. Semiconductor Components Industries LLC 17.3. Analog Devices Inc. 17.4. ROHM Co. Ltd 17.5. Vishay Intertechnology Inc. 17.6. NXP Semiconductors N.V. 17.7. Infineon Technologies AG 17.8. Qualcomm Incorporated 17.9. Renesas Electronic Corporation 17.10. STMicroelectronics N.V. 18. Assumptions & Acronyms Used 19. Research Methodology
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November 2023
REP-GB-18296
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November 2023
REP-GB-18297
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Power Management Integrated Circuit Market
