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Growing Demand from Automotive Sector to Drive Power Management IC Market
April 25, 2016 | Transparency Market ResearchEstimated reading time: 2 minutes
According to a recent market research report published by Transparency Market Research, the global power management IC market is estimated to expand at a CAGR of 6.1% during the period between 2013 and 2019. The report, titled “Power Management IC Market - Global Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2013 - 2019,” projects the global power management IC market to be worth US$46.0 bn by 2019. The overall market stood at a valuation of US$29.90 bn in 2012.
Power management ICs offer high-performance power management and are used across various industrial and commercial applications. These are solid state devices used to control the direction and flow of electrical power. Power management ICs provide high efficiency power conversion to minimize energy loss in form of heat. Technological advancements such as innovation in terms of programmability and configurability of a system are shaping the dynamics of the global power management IC market.
The growing demand for smart devices such as tablets, laptops, and smartphones has propelled the growth of the global power management IC market. The rapid growth of the consumer electronics market, particularly across the emerging economies has fuelled the demand for power management ICs. Increased manufacturing of automotives has also contributed largely towards the growth of this market.
In terms of product type, the report categorizes the global power management IC market into motor control IC, integrated ASSP power management IC, voltage regulators, battery management IC, and others such as gate drivers, switching controllers, and power factor correction. Of these, the integrated ASSP power management IC segment holds the majority of the market.
According to applications, the global power management IC market has been segmented into consumer electronics, automotive, industrial, telecom and networking, and others including medical electronics and military. Among these, the automotive sector led the market in 2012, followed by the consumer electronics segment. During the forecast period, the automotive segment is anticipated to continue dominating the market.
The report studies the global power management IC market across four key regions: Europe, North America, Asia Pacific, and Rest of the World. The demand for power management ICs across the automotive industry from the developing economies in Asia Pacific and Rest of the World is expected to boost the growth of the market. In 2012, Asia Pacific dominated the overall market owing to the growing usage of power management ICs in the consumer electronics industry. North America was the second largest market for power management ICs. The growth of the market in North America can be attributed to the rising demand for automobiles as well as the presence of the key market players.
The global power management IC market is dominated by a few players. The report profiles some of the prominent players in the market such as Texas Instruments, Renesas Electronics, STMicroelectronics, Mitsubishi Electric, ON Semiconductor, Dialog Semiconductor PLC, Linear Technology, Rohm Co Ltd., Maxim Integrated, Fairchild Semiconductor, Semtech Corp., and Toshiba.
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