Power Management IC Market Size, Share, Trends, Industry Analysis Report: By Type, End–User, and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Dec-2024
- Pages: 120
- Format: PDF
- Report ID: PM1473
- Base Year: 2024
- Historical Data: 2020-2023
Power Management IC Market Overview
The power management IC market size was valued at USD 38.97 billion in 2024. The market is projected to grow from USD 41.10 billion in 2025 to USD 71.03 billion by 2034, exhibiting a CAGR of 6.3% from 2025 to 2034.
The power management IC market involves the production of integrated circuits designed to manage power requirements in electronic devices. These ICs help efficiently control and distribute power to various components, improving energy usage and battery life.
The power management IC market is experiencing robust growth driven by the increasing demand for portable devices, such as smartphones and laptops. Additionally, there is a growing need for energy-efficient solutions in various applications, including the automotive and industrial sectors. The power management ICs are essential for optimizing performance and reducing energy consumption in modern electronics.
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Governments and manufacturers focused on developing high-efficiency systems are significant contributors to the expansion of the power management IC market size. High-efficiency systems require advanced power management IC to manage power conversion and distribution efficiently. This has accelerated the development and adoption of advanced power management IC technologies by manufacturers for various applications.
For instance, in May 2024, Dolphin Design and Raspberry Pi collaborated to develop advanced power management IC technologies for their semiconductor project. This collaboration enables optimization of performance, power efficiency, and extended battery life for various applications.
Power Management IC Market Trends and Drivers
Increasing Adoption of Electric Vehicles
Market CAGR for power management IC is being driven by the increasing adoption of electric vehicles, which require complex power management systems. Electric vehicles rely on efficient power management to optimize battery usage, ensure reliable performance, and extend driving range.
Power management ICs manage the power distribution within the vehicle, controlling the charging and discharging processes and maintaining battery health. As the demand for electric vehicles rises, the need for power management ICs that can handle power management tasks also increases, driving the power management IC market expansion.
For instance, according to the International Energy Agency (IEA) Global EV Outlook 2023, the sales of electric vehicles increased by 3.5 billion in 2023 compared to 2022, a 35% annual rise. In 2023, sales of electric cars reached 14 billion, with the majority (95%) occurring in China, Europe, and the US.
Expansion Of Wireless Communication Infrastructure
The power management IC market is experiencing significant growth, driven by the expansion of wireless communication infrastructure and the increasing demand for efficient power management in communication devices and network equipment. Power management ICs are essential in ensuring that base stations, small cells, and other communication infrastructure components operate reliably and efficiently.
It manages power consumption and reduces energy waste. The rollout of 4G and 5G networks necessitates advanced power management IC solutions to handle the complex power requirements of modern communication technologies.
For instance, in June 2024, BSNL announced its plans to roll out 5G services in early 2025 and complete the rollout of 4G services by the end of 2024 in India.
The proliferation of wireless devices such as smartphones, tablets, and IoT devices further accelerates the need for sophisticated power management solutions. These devices demand more efficient power management to extend battery life and enhance performance, driving the power management IC market revenue.
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Power Management IC Market Segment Insights
Power Management Market Breakdown by IC Type Insights
The power management IC market segmentation, based on type, includes battery management IC, motor control IC, voltage regulator, multi-channel power management IC, integrated ASSP power management IC, and others. The multi-channel power management IC segment accounted for a significant market share due to its ability to manage multiple power rails and voltage levels within a single device.
Multi-channel power management IC helps optimize power distribution, reduce component count, save board space, and enhance overall system efficiency. Hence, the key market players are developing and launching multi-channel power management ICs due to their versatility and efficiency.
For instance, in June 2024, South Korea-based Magnachip Mixed-Signal Ltd. announced the launch of a multi-channel power management IC specifically designed for IT device display panels. The new power management IC is designed to control different voltages and signals in order to increase efficiency and reduce power consumption.
Power Management IC Market Breakdown by End–User Insights
The power management IC market segmentation, based on end–user, includes automotive, consumer electronics, industrial, computing, communication, building & automation, retail, healthcare, and others. The automotive segment is expected to register the fastest CAGR from 2025 to 2034, owing to the increased manufacturing of automobiles equipped with additional features to meet the rising consumer demand.
Power management ICs enable the incorporation of advanced electronics in automobiles to manage battery power, optimize energy usage, and ensure efficient operation. Additionally, advanced driver assistance systems (ADAS), which include camera and radar technologies, rely on these electronics for navigation, communication, and safety features, further driving the demand for power management IC solutions.
For instance, in November 2022, Renesas Electronics Corporation, a provider of advanced semiconductor solutions, launched an automotive power management IC for next-generation automotive camera applications.
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Power Management IC Market Breakdown by Regional Insights
By region, the study provides market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific dominated the power management IC market in 2024, owing to the expansion of consumer electronics markets and the widespread adoption of advanced electronic devices such as smartphones and tablets.
For instance, according to the Invest India 2023 report, the total value of domestic electronics production was valued at $101 billion in India. Further, the consumer electronics segment accounted for 12% of the total domestic electronics production.
The rising demand for energy-efficient battery-powered devices and the integration of advanced technologies like IoT and AI into power management ICs are driving the market growth.
China accounted for a significant power management IC market share owing to the expansion of the automotive sector. With increasing environmental awareness, consumers are adopting electric vehicles at a significant pace in the region.
For instance, in May 2023, according to the World Economic Forum, China saw an 82% rise in new EV sales in 2022 over the previous year. With 59% of all global EV sales last year, the nation solidified its lead as the top market for electric vehicles worldwide. With 64% of the global EV volume produced, China is also the world's largest EV producer.
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North America accounted for a significant market share owing to the advanced technological infrastructure, high adoption rate of consumer electronics, and the presence of major semiconductor companies. These companies are focused on developing advanced power management ICs to meet the rising consumer demands.
For instance, in December 2023, Nordic Semiconductor launched the nPM1300 PMIC (power management integrated circuit). The PMIC comes with two load switches and integrated battery charging for battery-operated applications.
The region's demand for energy-efficient solutions across various sectors, including automotive, industrial, and telecommunications, drives the market. Additionally, the growing trend of smart homes and IoT devices in North America necessitates advanced power management ICs to ensure efficient energy use and battery management, contributing to the market growth.
Power Management IC Market – Key Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the power management IC market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the power management IC market must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers to benefit clients and increase the market sector. In recent years, the power management IC market has offered some technological advancements. Major players in the power management IC market include Texas Instruments Incorporated; Onsemi; Analog Devices Inc.; ROHM Co. Ltd; Vishay Intertechnology Inc.; Infineon Technologies AG; STMicroelectronics N.V.; Mouser Electronics India; NXP; and Renesas Electronics Corp.
Texas Instruments Incorporated is a global semiconductor company that designs, manufactures, tests, and sells analog and embedded processing chips. TI offers a wide range of products, including amplifiers, data converters, interfaces, motor drivers, sensors, switches and multiplexers, microcontrollers, processors, and isolation products. The company serves industrial, automotive, communications equipment, personal electronics, enterprise systems, and other markets. TI has a global presence across the Americas, Asia Pacific, and Europe. In April 2023, Texas Instruments launched the SimpleLink series of Wi-Fi 6 companion ICs. These ICs are engineered to meet the demands of high-density and high-temperature applications.
Onsemi is a semiconductor manufacturing company. The company specializes in designing and producing a diverse range of semiconductor products and solutions, including analog, discrete, silicon carbide, power modules, memory, and IC. Onsemi serves various sectors, such as automotive, industrial, medical, aerospace, defense, and communications. The company operates globally with 19 manufacturing facilities and 43 design centers across North America, Europe, and Asia Pacific. In May 2023, Onsemi announced a ten-year long-term supply deal of silicon carbide materials to Vitesco Technologies. The deal was valued at $1.9 billion for rapid advancement in electrification technologies of power management IC.
List of Key Companies in Power Management IC Market
- Analog Devices Inc.
- Infineon Technologies AG
- Mouser Electronics India
- NXP
- Onsemi
- Renesas Electronics Corp.
- ROHM Co. Ltd
- STMicroelectronics N.V.
- Texas Instruments Incorporated
- Vishay Intertechnology Inc.
Power Management IC Market Developments
June 2024: Startup Orca Semiconductor sampled its first power management IC for an application-specific approach in the healthcare sector.
July 2023: Analog Devices Inc. invested $1 billion to expand its semiconductor operations based in Oregon. The company aims to increase its production capacity in industries such as consumer electronics, healthcare, and communications.
March 2023: Texas Instruments introduced the power management IC designed to filter electromagnetic interference. The company expanded its line of analog products through the inclusion of TPSF12C1, TPSF12C3, TPSF12C1-Q1, and TPSF12C3-Q1.
Power Management IC Market Segmentation
By Type Outlook
- Battery Management IC
- Motor Control IC
- Voltage Regulator
- Multi-channel Power Management IC
- Integrated ASSP Power Management IC
- Others
By End–User Outlook
- Automotive
- Consumer Electronics
- Industrial
- Computing
- Communication
- Building & Automation
- Retail
- Healthcare
- Others
By Regional Outlook
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
· Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
· Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of the Middle East & Africa
· Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Power Management IC Report Scope
|
Report Attributes |
Details |
|
Market Size Value in 2024 |
USD 38.97 billion |
|
Market Size Value in 2025 |
USD 41.10 billion |
|
Revenue Forecast in 2034 |
USD 71.03 billion |
|
CAGR |
6.3% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Industry Trends |
|
Segments Covered |
· By Type · By End-User |
|
Regional Scope |
· North America · Europe · Asia Pacific · Latin America · Middle East & Africa |
|
Competitive Landscape |
Power Management IC Industry Trends Analysis (2024) Company Profiles/Industry participants profiling includes company overview, financial information, product/service benchmarking, and recent developments |
|
Report Format |
· PDF + Excel |
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The power management IC market size was valued at USD 38.97 billion in 2024 and is projected to be valued at USD 71.03 billion in 2034.
The market is projected to grow at a CAGR of 6.3% from 2025 to 2034.
Asia Pacific held the largest share of the market in 2024.
The key players in the market are Texas Instruments Incorporated; Onsemi; Analog Devices Inc.; ROHM Co. Ltd; Vishay Intertechnology Inc.; Infineon Technologies AG; STMicroelectronics N.V.; Mouser Electronics India; NXP; and Renesas Electronics Corp.
The multi-channel power management IC segment held a significant market share in the market.
The automotive segment is expected to witness the fastest CAGR in the market.
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