Power Management Integrated Circuit Market
Power management ICs are devices used to control the direction and flow of electrical power. They comprise multiple voltages and sources of external power. When these ICs are incorporated into other devices, they improve the comprehensive layout and operational efficiency by providing higher energy conversion and better heat dissipation.
The global power management intergraded circuit market is likely to grow significantly in the years ahead, owing to the rising need for energy conservation. Technological innovations in the smartphones will also drive the power management integrated circuit market, as it improves its cost and performance and decreases carbon footprints. According to a study conducted by CNET on July 23, 2019, the growth in smartphones has resulted in huge carbon dioxide gas emissions. Recently, the demand for electric vehicles has gone up to reduce carbon emission levels globally, which is also estimated to contribute to the power management integrated circuit market. Moreover, rapid developments and increasing energy consumption are fuelling the manufacturing of energy-efficient integrated circuits. In addition, the initiatives taken by various governments to reduce energy emission and energy costs alongside reducing consumption are further expected to propel the power management integrated circuit market in the upcoming years.
The product segment of the power management integrated circuit market includes integrated ASSP power management IC, voltage regulators, microprocessor supervisory IC, battery management IC, and motor control IC. On the basis of end-use, the power management intergraded circuit market includes consumer electronics, automotive, telecom and networking, and others.
By region, the North American power management integrated circuit market is likely to grow significantly over the years ahead, owing to the surging demand for smartphones, growing automotive purchases, and rising consumer preference for electric vehicles. In addition, stringent government policies for optimum utilization of available energy are also driving this regional market. The Asia Pacific region is expected to hold a substantial share of the global market in the future, owing to the presence of developing countries like India and China. The growing adoption of consumer electronics has led to further market growth in this region. The regional government plans on investing in constructing high-speed rail and flourishing telecommunication sector are also likely to drive the Asia Pacific power management integrated circuit market.
Some leading players of the global power management integrated circuit market are STMicroelectronics (Switzerland), Semiconductor (U.S.), Dialog Semiconductor (UK), Analog Devices (U.S.), Linear Technology (U.S.), Texas Instruments (U.S.), and Maxim Integrated Products (U.S.).