Power Management IC Market Size to Worth USD 58.91 Billion by 2032
The Power Management IC (PMIC) Market is driven by the growing demand for energy efficiency across diverse industries.
Austin, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Power Management IC Market Size & Growth Insights:
According to the SNS Insider, 'The Power Management IC Market Size was valued at USD 36.63 Billion in 2023 and is expected to reach USD 58.91 Billion by 2032 and grow at a CAGR of 5.5% over the forecast period 2024-2032.'
Power Management IC Market Growth Fueled by Energy Efficiency Demands and Renewable Energy Integration
The Power Management IC market has experienced remarkable growth, driven by the increasing demand for energy-efficient devices and the expanding adoption of renewable energy sources. PMICs are crucial in regulating and distributing power efficiently across various industries, including automotive, consumer electronics, telecommunications, and healthcare. In the United States, the importance of energy efficiency is highlighted by the record surplus of 9 quadrillion British thermal units (quads) in energy production over consumption in 2023, according to the U.S. Energy Information Administration. This underscores the role of PMICs in optimizing energy use in sectors such as consumer electronics, automotive, and industrial applications. The rise in electric vehicle adoption and advancements in renewable energy integration further strengthen the demand for PMIC solutions. Additionally, U.S. government efforts to promote natural gas and renewable energy production will drive the need for advanced power management systems, ensuring efficient energy conversion and distribution. Despite challenges, the continued technological advancements and supportive energy policies are expected to sustain the PMIC market's growth, especially in emerging technologies like 5G and IoT.
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Leading Market Players with their Product Listed in this Report are:
Texas Instruments Incorporated (TPS7A02, LM2596)
Analog Devices, Inc. (ADP5065, LT8640)
Infineon Technologies AG (IR3894, CoolSET™ F3)
STMicroelectronics (ST1S14, L6924)
Semiconductor Components Industries, LLC (NCP4681DSQ25T1G, NCP4682DSQ25T1G)
Evelta Electronics (APM6612, APM6616)
Renesas Electronics Corporation (ISL95014, ISL95812)
NXP Semiconductors (PF1550, LPC54608)
Microchip Technology Inc. (MIC5365, MIC5365-2YC5-TR)
ROHM CO., LTD. (BD9E202F, BD9F100MUF)
Diodes Incorporated (AP7361, AP7331)
Semtech Corporation (SC610, SC1211)
Vishay Intertechnology Inc. (Si8641, Si3402).
Power Management IC Market Report Scope:
Report Attributes
Details
Market Size in 2023
USD 36.63 Billion
Market Size by 2032
USD 58.91 Billion
CAGR
CAGR of 5.5% From 2024 to 2032
Report Scope & Coverage
Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segmentation
• By Product Type (Voltage Regulators, Battery Management ICs, Motor Control ICs, Multichannel ICs, Others - Power Factor Correction (PFC) ICs)• By End-user (Consumer Electronics, Automotive, Industrial, Telecommunication, Healthcare, Others - Computing and Networking)• By Power Source (AC-DC, DC-DC)
Key Drivers
• Technological Advancements in Energy Efficiency Fuel the Power Management IC Market Growth Across Multiple Sectors.• Increased Adoption of Electric Vehicles and IoT Devices Accelerates Power Management IC Market Growth.
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Power Management IC Market Growth Driven by Voltage Regulators, Battery Management ICs, and Power Source Segments
By Product Type
In 2023, the Voltage Regulators segment led the Power Management IC (PMIC) market with a 37.00% revenue share, driven by the increasing demand for stable voltage supply in sectors like automotive, telecommunications, consumer electronics, and industrial automation. Voltage regulators are critical for ensuring stable voltage, which enhances the performance and longevity of power-hungry systems like electric vehicles (EVs) and high-performance computing devices. For example, Texas Instruments' TPS7A88 LDO regulator meets automotive and industrial requirements with stable output in challenging environments.
The Battery Management ICs (BMICs) segment is expected to grow at the largest CAGR of 7.08%, driven by the need for efficient energy storage solutions, with products like STMicroelectronics' STBC08 battery charger IC for EVs improving charging efficiency and reducing energy loss.
By Power Source
The AC-DC segment dominated the Power Management IC (PMIC) market in 2023, holding a 65.00% revenue share, driven by the widespread use of AC-DC power converters across industries like consumer electronics, telecommunications, automotive, and industrial applications. AC-DC converters, such as Texas Instruments' UCC28780 family, provide efficient power conversion, reducing energy loss.
The DC-DC segment is expected to grow at the highest CAGR of 6.45%, driven by the demand for efficient power conversion in portable and automotive applications. Products like Analog Devices' LTC3589 DC-DC converter are designed for battery-powered devices like wearables and EVs, ensuring energy optimization.
North America and Asia-Pacific Drive Growth in the Power Management IC Market
In 2023, North America held a dominant 42% share of the Power Management IC market, driven by early adoption of advanced technologies and a strong presence of key players like Texas Instruments, Analog Devices, and Microchip Technology. The U.S. government's focus on clean energy and electric vehicle adoption, bolstered by initiatives like the Inflation Reduction Act, has positively impacted the PMIC market. Meanwhile, Asia-Pacific is the fastest-growing region, with an estimated CAGR of 6.45% from 2024 to 2032, fueled by rising demand for consumer electronics, automotive, and industrial applications, particularly in China, Japan, South Korea, and India. Japan's leadership in renewable energy and technological innovation further accelerates the region's growth in the PMIC market.
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Recent Development
In January 2025, iWOW Technology, in collaboration with Semtech, expanded its LoRaWAN-based emergency alert system to 27,000 more seniors in Singapore, covering 170 public housing blocks.
On August 2024, Analog Devices' MAX78000 microcontroller was awarded the Best of Sensors Award in the Edge Technology category, recognizing its groundbreaking contribution to edge computing and sensor data processing at the network's periphery.
Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Product Adoption Rates by Region
5.2 Revenue Breakdown by Application
5.3 Government Incentives and Support
5.4 Patent Filings and Innovations by Region
5.5 R&D Investment Trends
6. Competitive Landscape
7. Power Management IC Market Segmentation, by Power Source
8. Power Management IC Market Segmentation, by Product Type
9. Power Management IC Market Segmentation, by End-user
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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