Power Management Integrated Circuits (PMICs) Market to Reach $51.04 Bn, Globally, by 2027 at 5.3% CAGR: Says AMR

Power Management Integrated Circuits (PMICs) Market to Reach $51.04 Bn, Globally, by 2027 at 5.3% CAGR: Says AMR

PR Newswire

PORTLAND, Ore., Nov. 5, 2020

Rise in technological advancements and growth of the semiconductor industry and semiconductor applications drive the growth of the global power management integrated circuits market

PORTLAND, Ore., Nov. 5, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Power Management Integrated Circuits Market by Product Type (Voltage Regulators, Motor Control IC, Integrated ASSP Power Management IC, Battery Management IC, and Other Power Management IC) and End Use (Automotive & Transportation, Consumer Electronics, Industrial, Telecom & Networking, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027". As per the report, the global power management integrated circuits (PMICs) industry was pegged at $33.96 billion in 2019, and is projected to reach $51.04 billion by 2027, growing at a CAGR of 5.3% from 2020 to 2027.

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Major determinants of the market growth

Rise in technological advancements, surge in demand for battery-operated devices, and growth of the semiconductor industry and semiconductor applications drive the growth of the global power management integrated circuits market. In addition, increase in sales of consumer electronics & automobiles and reduction in cost & area density supplement the market growth. However, multi-power domain system on chip (SOC) of PMICs hampers the market growth. On the contrary, rise in application domains of PMICs is expected to open lucrative opportunities for the market players in the future.

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COVID-19 scenario:

The voltage regulators segment dominated the market

Based on product type, the voltage regulators segment held the lion's share in 2019, accounting for more than one-fourth of the global power management integrated circuits market, owing to the increasing need for power supply. However, the battery management IC segment is projected to portray the highest CAGR of 6.4% during the forecast period, due to growing production capability and sales of battery-operated electronic gadgets.

Get detailed COVID-19 impact analysis on the Power Management Integrated Circuits Market

The industrial segment to manifest the highest CAGR through 2027

By end use, the industrial segment is estimated to register the highest CAGR of 6.1% from 2020 to 2027. This is owing to technological innovations, continuous introduction of low-priced vehicles in the market, competitive rivalry among major manufacturers, and changing preferences of customers. However, the automotive and transportation segment held the lion's share in 2019, contributing to more than one-fourth of the global power management integrated circuits market, due to rise in automation in industries, smart grid & metering, and continuous innovations in battery-supported equipment.

The Asia-Pacific, followed by North America, held the largest share

By region, the market across Asia-Pacific, followed by North America, held the lion's share in 2019, accounting for nearly half of the market. In addition, the region is expected to register the highest CAGR of 6.3% during the forecast period, owing to presence of many large manufacturers of electronic devices. The global power management integrated circuits market across North America is expected to register a CAGR of 4.2% from 2020 to 2027.

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Major market players

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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