Power management ICs market is estimated to be valued at US$ 61,489.32 Million in 2030

A newly published report by Coherent Market Insights reveals a sustainable growth opportunity in the power management ICS market. Coherent Market Insights’ analyst projected the power management ICS market to be valued at US$ 61,489.32 Mn in 2030.  It is expected to exhibit a CAGR of 5.72% over the forecast period 2023 -2030.

Rising demand for consumer electronics and increasing adoption of advanced driver assistance systems in automotive drives market. Growing consumption of smartphones, laptops, wearables and other consumer electronic devices rely heavily on power management ICs in order to efficiently manage and conserve battery power.

Moreover, integration of advanced driver assistance systems such as blind spot detection, adaptive cruise control drives market growth. Modern vehicles require precise power management for reliability and safety critical components, thereby boosting market value of power management ICs in automotive sector.

Key market trends include Miniaturization of power management ICs: Growing focus of manufacturers on minimizing the size of power management ICs is a krey trend. Advent of system-in-package (SiP) and other 3D packaging technologies is allowing to stack multiple power management die and passive components in a single package.

All-In-One Power Solutions: Players are developing all-in-one power solutions offering integrated modules with multiple power management functions. This reduces board space and eliminates the need for additional components. For example, integrated PFC + LLC controller ICs combines bulk charging, isolated high-voltage power supply, synchronous rectification and protection in a single package.

Power Management ICs Market Opportunities: Voltage regulators help maintain stable voltage levels in circuits and systems by automatically adjusting the voltage level. They are used widely in various electronic devices like smartphones, laptops, home appliances, industrial equipment, and automobiles. Advances in power electronics are driving the demand for more robust and efficient voltage regulators that can handle higher power loads.

Motor control ICs are integral for controlling and regulating the speed and motion of electric motors in devices ranging from industrial machinery to home appliances. With growing automation and electrification across industries, demand for motor control ICs is rising significantly. Moreover, the integration of advanced motor control features into compact packages is allowing for more complex motorized systems. The development of sensorless motor control ICs suitable for appliances and consumer goods is another key focus area.

Key Market Takeaways: The global power management ICs market is anticipated to witness a CAGR of 5.72% during the forecast period 2023 -2030, owing to the widespread usage of power management ICs in several portable consumer electronics and growing automation across industries.

On the basis of product type, the voltage regulators segment is expected to hold a dominant position. This is owing to their ubiquitous use in regulating voltage levels in various electronic circuits and devices.

On the basis of end user, the automotive segment is expected to hold the largest share over the forecast period. This is due to increased electrification of vehicles and growing demand for advanced driver-assistance systems and infotainment modules in cars.

North America is expected to hold a dominant position over the forecast period. This is due to the presence of major power management IC manufacturers and growing adoption of EVs in the region.

Competitor Insights: Key players operating in the power management ICs market include Analog Devices Inc., Dialog Semiconductor PLC, Infineon Technologies AG, Maxim Integrated Products Inc., Mitsubishi Group, NXP Semiconductors, ON Semiconductor Corp., Renesas Electronics Corporation, STMicroelectronics N.V., Texas Instruments Inc., and Rohm Co Ltd.

Recent Developments: In June 2022, to satisfy the increased demand for high-quality chip designs, Silicon Topology (Taiwan), a prominent ASIC/SoC physical layout design service provider, announced its membership in the TSMC Design Center Alliance. Silicon Topology’s core areas of expertise include memory devices, mixed-signal, analog, and radio frequency circuit designing services. More information in full report