Power Management IC Market Size Worth $71.03 Billion By 2034 | CAGR: 6.3%
The power management IC market size is expected to reach USD 71.03 billion by 2034, according to a new study by Polaris Market Research. The report “Power Management IC Market Share, Size, Trends, Industry Analysis Report: By Type, End-User, And By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The power management IC market is experiencing rapid growth owing to its widespread adoption across various industries such as consumer electronics, semiconductors, and more. The power management IC is beneficial in improving power density, prolonging battery life, decreasing electromagnetic interference, preserving power and signal integrity, and ensuring safety when exposed to elevated voltages.
Further, the rise in the semiconductor industry is driving the growth of the power management IC market by accelerating technological advancements and innovations that enhance the performance and efficiency of power management ICs.
The semiconductor industry is developing more sophisticated and smaller chips to integrate power management ICs more effectively into various electronic devices, such as smartphones and industrial machinery. This enables better power efficiency and management, which is crucial as devices become increasingly complex.
Moreover, the growth of the semiconductor industry supports the mass production and cost reduction of power management ICs, making them more accessible for various applications and driving market expansion.
For instance, in March 2024, Tata Electronics commenced the construction of a semiconductor facility valued at Rs 91,000 crore in Gujrat. Further, Tata Electronics and Taiwan's Powerchip Semiconductor Manufacturing Corporation collaborated to construct India's first AI-enabled fabrication lab to produce chips for applications like power management IC, microcontrollers, and display drivers.
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In recent years, there has been a significant rise in the integration of power management ICs in healthcare devices due to the increasing adoption of portable and wearable medical technologies. These devices, such as portable monitors, diagnostic equipment, and wearable health trackers, require efficient power management to ensure reliable performance and longer battery life.
Power management ICs optimize power consumption, enabling medical devices to operate continuously and effectively. Additionally, the surge in remote patient monitoring and telemedicine has accelerated the demand for compact, energy-efficient healthcare devices, further propelling the growth of the power management IC market.
Power Management IC Market Report Highlights
· By type analysis, 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.
· Based on end-user analysis, the automotive segment is expected to grow at the fastest CAGR from 2025 to 2034. This is due to the increased manufacturing of automobiles incorporated with additional features to meet the rising consumer demand.
· Asia Pacific dominated the market in 2024 due to the expansion of consumer electronics markets and the widespread adoption of advanced electronic devices such as smartphones and tablets.
· North America accounted for a significant market share owing to the advanced technological infrastructure and the presence of major semiconductor companies.
· The key market players 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.
Polaris Market Research has segmented the power management IC market report based on type, end-user, and region:
By Type Outlook (Revenue – USD Billion, 2020–2034)
- Battery Management IC
- Motor Control IC
- Voltage Regulator
- Multi-channel Power Management IC
- Integrated ASSP Power Management IC
- Others
By End–User Outlook (Revenue – USD Billion, 2020–2034)
- Automotive
- Consumer Electronics
- Industrial
- Computing
- Communication
- Building & Automation
- Retail
- Healthcare
- Others
By Regional Outlook (Revenue – USD Billion, 2020–2034)
· North America
o U.S.
o Canada
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Netherlands
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Indonesia
o Australia
o Vietnam
o Malaysia
o Rest of Asia Pacific
· Latin America
o Argentina
o Brazil
o Mexico
o Rest of Latin America
· Middle East & Africa
o UAE
o Saudi Arabia
o Israel
o South Africa
o Rest of the Middle East & Africa
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 |
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