Global Automotive Power Management ICs (PMICs) Market

Global Automotive Power Management IC (PMIC) Market Size, Share, Growth Analysis, By Vehicle Type(Heavy Commercial Vehicle, Light Passenger Vehicle), By Application(Telematics, Battery Management) - Industry Forecast 2023-2030


Report ID: SQMIG25A2114 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 75

Global Automotive Power Management IC (PMIC) Market Insights

Automotive Power Management ICs (PMICs) Market size was valued at USD 4170.2 Million in 2021 and is poised to grow from USD 4570.54 Million in 2022 to USD 9515.94 Million by 2030, at a CAGR of 9.6% during the forecast period (2023-2030).

The purpose of the automotive PMICs market is to provide efficient, reliable, and safe power management solutions for modern vehicles. These solutions help to reduce energy consumption, improve the performance and efficiency of automotive systems, and enhance the overall driving experience for consumers. The primary driving factor for the automotive PMICs market is the growing demand for electric and hybrid vehicles, which require advanced power management solutions to optimize energy efficiency and reduce emissions. The increasing adoption of advanced automotive systems, such as ADAS, infotainment systems, and autonomous driving technologies, is driving demand for more sophisticated PMICs. The main restraining factors for the automotive PMICs market include the high cost of advanced PMIC solutions, as well as the complexity of integrating PMICs into existing automotive systems. Moreover, the limited availability of raw materials required to produce PMICs may also limit market growth.

One of the main challenges in the automotive PMICs market is to develop solutions that can withstand harsh automotive environments, including high temperatures, vibration, and electromagnetic interference. Another challenge is to develop solutions that are compatible with various automotive systems and architectures, as different vehicles may require different power management solutions. One of the key opportunities in the automotive PMICs market is to develop solutions that can improve the efficiency and performance of electric and hybrid vehicles. Additionally, the growing demand for advanced automotive systems, such as ADAS and infotainment systems, presents an opportunity for PMIC manufacturers to develop more sophisticated and specialized solutions. The increasing adoption of autonomous driving technologies is expected to drive demand for more advanced and reliable PMICs. The global Automotive Power Management ICs (PMICs) market is expected to witness significant growth in the coming years, driven by the growing demand for advanced power management solutions in modern vehicles.

US Automotive Power Management IC (PMIC) Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 4170.2 Million

Largest Segment

Heavy Commercial Vehicle

Fastest Growth

Heavy Commercial Vehicle

Growth Rate

9.6% CAGR

Global Automotive Power Management ICs (PMICs) Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Automotive Power Management ICs (PMICs) Market Size By Vehicle 2022-2030 ($ Bn)
Global Automotive Power Management ICs (PMICs) Market Size By Type 2022-2030 (%)

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Global Automotive Power Management IC (PMIC) Market Segmental Analysis

The global automotive power management ICs (PMICs) market is segmented on the basis of vehicle, application, and region. By vehicle, the market is segmented into heavy commercial vehicle, light passenger vehicle, and passenger vehicle. Based on application, the market is categorized into battery management, telematics, powertrain, body electronics & infotainment systems, and adas & safety.

Automotive Power Management ICs (PMICs) Market Analysis by Vehicle

With respect to segmentation by vehicle, the heavy commercial vehicle segment earned the largest share in 2022. Anticipated growth in heavy commercial vehicle requirements is projected to increase the demand for automotive Power Management Integrated Circuits (PMICs). The e-commerce sector's expansion has led to an upsurge in goods transportation demands, consequently driving the need for large commercial vehicles. The rise of megacities has further contributed to the growing demand for goods transportation services, spurring market growth. To comply with strict pollution standards, Original Equipment Manufacturers (OEMs) are compelled to manufacture more fuel-efficient and environmentally friendly large commercial vehicles, including electric commercial vehicles, thus elevating the demand for PMICs. The passenger vehicle segment is predicted to experience moderate revenue growth during the forecast period. Electric vehicles (EVs) are at the forefront of technologies aimed at reducing air pollution, with several governments worldwide offering incentives to encourage their adoption. With electric vehicles operating on lithium-ion batteries that support hybrid charging, they are being increasingly adopted by ride-hailing businesses to replace their internal combustion engine fleet. For instance, Uber India has ambitious plans to incorporate about 3,000 electric vehicles into its fleet by the end of 2021. These factors collectively contribute to the growth of the passenger vehicles market, especially electric passenger cars, thereby propelling the global automotive power management Integrated Circuit (IC) market's revenue growth.

Automotive Power Management ICs (PMICs) Market Analysis by Application

The battery management segment earned the dominant share in 2022. The latest iteration of power management ICs (PMICs) incorporates multiple functions within a single device, aiming to reduce the number of components and board space needed for efficient power regulation in various devices, all while maintaining a cost-effective approach. Similarly, the most recent integrated circuits for battery management focus on enhancing battery capacity, extending battery lifespan, and closely monitoring the charging process. These cutting-edge circuits support a wide array of battery chemistries and offer cost-effective, high-precision voltage regulation solutions with minimal external components, resulting in reduced design size, cost, and complexity. Battery management ICs are of utmost importance as they ensure user safety and optimize the performance of battery-operated devices. Moreover, these integrated circuits safeguard user safety by continuously monitoring cell temperatures during operation and charging, automatically adjusting energy usage if temperature limits are surpassed.

Global Automotive Power Management ICs (PMICs) Market Size By Type 2022(%), 2021 (%)

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Global Automotive Power Management IC (PMIC) Market Regional Insights

In 2022, Asia Pacific dominated the global automotive power management ICs (PMICs) market in terms of revenue share. This can be attributed to the flourishing automotive industry in the region, particularly in China where the new energy vehicle sector is leading the market for battery electric vehicles. The increasing demand for electric cars in the region has also contributed significantly to the growth of the market, with global electric car sales expected to reach almost seven million units in 2022.

North America is projected to register a faster growth rate in revenue over the forecast period. Advancements in the automotive industry in this region are expected to drive market growth, particularly with the rise of electric mobility in key North American countries. The United States is expected to dominate the market share in this region due to the presence of major automobile OEMs and supportive government initiatives and policies, including infrastructure and electric vehicle regulations. The increasing demand for safety and comfort features in automobiles, such as ADAS technologies, is also contributing to the growth of the market in North America. The preference of younger generations for premium automobiles is also expected to provide lucrative opportunities for the market.

Global Automotive Power Management ICs (PMICs) Market Size By Geography, 2022-2030, 2023-2030
  • Largest
  • Fastest

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Global Automotive Power Management IC (PMIC) Market Dynamics

Automotive Power Management ICs (PMICs) Market Drivers

Increasing Demand for Electric Vehicles

  • The demand for electric vehicles has been growing at a significant pace due to the increasing concerns over the environment and the need to reduce carbon emissions. This has led to a surge in the demand for power management ICs that are required to manage the power supply to the electric vehicles efficiently.

Technological Advancements in Automotive Industry

  • The automotive industry is witnessing a rapid technological transformation with the emergence of advanced driver assistance systems (ADAS) and the development of autonomous vehicles. This has led to an increased demand for power management ICs that are required to power these advanced technologies.

Automotive Power Management ICs (PMICs) Market Restraints

High Cost of Advanced PMIC Solutions

  • The global Automotive Power Management ICs (PMICs) market is a rapidly growing market that is expected to witness significant growth in the coming years. PMICs are a key component of modern automotive electronics systems, helping to manage and optimize power usage in vehicles. They are used in a variety of applications, including powertrain, infotainment, lighting, and safety systems. One of the major challenges facing the automotive PMICs market is the high cost of advanced PMIC solutions. The cost of developing and manufacturing PMICs can be quite high, especially for advanced solutions that are designed to meet the demanding requirements of modern automotive systems.

Limited Technological Expertise

  • The Global Automotive Power Management ICs (PMICs) market has limited technological expertise, particularly in emerging markets. Developing advanced PMIC solutions requires a high level of technical expertise, as well as access to the latest technologies and manufacturing processes. In emerging markets, where the automotive industry is still in the early stages of development, there may be a lack of expertise and resources available to develop and manufacture advanced PMIC solutions. This can be a significant barrier to entry for companies looking to enter these markets, as they may not have the technical expertise necessary to compete with established players in the market. companies may need to invest in training and development programs to help build the technical expertise necessary to develop advanced PMIC solutions.

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Global Automotive Power Management IC (PMIC) Market Competitive Landscape

The presence of a large number of players have resulted in an intense competition for the global automotive power management ICs market. vendors compete on grounds of product innovation, price, performance, and customer service. The market is characterized by a high level of technological innovation, as companies continue to develop and introduce new, more advanced PMIC solutions to meet the increasing demands of the automotive industry. Prominent players are indulged in the development of advanced PMIC solutions offering more efficient, intelligent, and reliable solutions than the existing ones. They are also investing heavily in research and development to stay ahead of the competition and introduce new technologies and solutions to the market. The global Automotive Power Management ICs (PMICs) market is highly competitive, with a large number of players competing for market share.

Automotive Power Management ICs (PMICs) Market Top Player’s Company Profiles

  • Texas Instruments Inc. (US)
  • Infineon Technologies AG (Germany)
  • NXP Semiconductors N.V. (Netherlands)
  • STMicroelectronics N.V. (Switzerland)
  • ON Semiconductor Corporation (US)
  • Renesas Electronics Corporation (Japan)
  • Maxim Integrated Products, Inc. (US)
  • ROHM Semiconductor (Japan)
  • Toshiba Corporation (Japan)
  • Analog Devices, Inc. (US)
  • Melexis NV (Belgium)
  • Dialog Semiconductor (UK)
  • Microchip Technology Inc. (US)
  • Vishay Intertechnology, Inc. (US)
  • Diodes Incorporated (US)
  • Semtech Corporation (US)
  • Delta Electronics, Inc. (Taiwan)
  • Fuji Electric Co., Ltd. (Japan)
  • Nuvoton Technology Corporation (Taiwan)
  • Richtek Technology Corporation (Taiwan)

Automotive Power Management ICs (PMICs) Market Recent Developments

  • In June 2022, Renesas Electronics Corporation released the ISL78083, a power management IC (PMIC) designed to simplify power supply configuration for use in multiple HD camera modules, leading to reduced development cycles, cost of materials (BOM), and supply chain risks.
  • Similarly, in June 2021, Microchip expanded its extensive range of dsPIC33C DSCs to include the new ISO 26262-compliant dsPIC33CK1024MP7xx family, catering to the large memory segment. This new family of dsPIC33C DSCs, equipped with 1 MB Flash, facilitates applications that run automotive software such as AUTOSAR, OS, MCAL drivers, ISO 26262 functional safety diagnostics, and security libraries.
  • Additionally, in April 2021, STMicroelectronics unveiled a fully integrated power management IC (PMIC) tailored for AMOLED displays. This PMIC boasts a low quiescent current and enhanced flexibility, effectively extending the battery runtime of portable devices.
  • Furthermore, in April 2021, Infineon Technologies AG introduced a new line of battery management ICs, including TLE9012DQU and TLE9015DQU, which offer an optimized solution for battery cell monitoring and balancing

Global Automotive Power Management IC (PMIC) Key Market Trends

  • Growing focus on energy efficiency: With environmental concerns becoming more prominent, there is a growing focus on energy efficiency in the automotive industry. PMICs play a critical role in improving energy efficiency by reducing power consumption and optimizing power usage. As a result, there is a growing demand for PMICs that are more efficient and intelligent.
  • Adoption of advanced manufacturing processes: The automotive industry is increasingly adopting advanced manufacturing processes, such as wafer-level packaging and flip-chip bonding, to produce smaller, more efficient PMICs. These manufacturing processes enable the production of PMICs with a higher level of integration, which can help to reduce the size, weight, and cost of automotive systems.

Global Automotive Power Management IC (PMIC) Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global automotive power management ICs market analyses, this is a large and competitive industry that is experiencing significant growth. PMICs are critical components in vehicles, helping to manage the flow of power between the battery, motor, and other components. The market is driven by several key factors, including the increasing demand for electric and hybrid vehicles, the growing focus on energy efficiency, and the increasing complexity of automotive systems. The adoption of advanced manufacturing processes and the emergence of new markets are also shaping the industry, driving innovation and new product development. The leading players in the market are focused on developing advanced PMIC solutions that are more efficient, intelligent, and reliable than existing solutions. They are also investing heavily in research and development to stay ahead of the competition and introduce new technologies and solutions to the market. The market is highly competitive, with a large number of players competing for market share. The markt is expected to continue to grow in the coming years, driven by increasing demand for more efficient and intelligent power management solutions in vehicles.

Report Metric Details
Market size value in 2021 USD 4170.2 Million
Market size value in 2030 USD 9515.94 Million
Growth Rate 9.6%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Million
Segments covered
  • Vehicle Type
    • Heavy Commercial Vehicle, Light Passenger Vehicle, and Passenger Vehicle
  • Application
    • Telematics, Battery Management, ADAS & Safety, Powertrain, and Body Electronics & Infotainment Systems
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Texas Instruments Inc. (US)
  • Infineon Technologies AG (Germany)
  • NXP Semiconductors N.V. (Netherlands)
  • STMicroelectronics N.V. (Switzerland)
  • ON Semiconductor Corporation (US)
  • Renesas Electronics Corporation (Japan)
  • Maxim Integrated Products, Inc. (US)
  • ROHM Semiconductor (Japan)
  • Toshiba Corporation (Japan)
  • Analog Devices, Inc. (US)
  • Melexis NV (Belgium)
  • Dialog Semiconductor (UK)
  • Microchip Technology Inc. (US)
  • Vishay Intertechnology, Inc. (US)
  • Diodes Incorporated (US)
  • Semtech Corporation (US)
  • Delta Electronics, Inc. (Taiwan)
  • Fuji Electric Co., Ltd. (Japan)
  • Nuvoton Technology Corporation (Taiwan)
  • Richtek Technology Corporation (Taiwan)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Automotive Power Management IC (PMIC) Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Automotive Power Management IC (PMIC) Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Automotive Power Management IC (PMIC) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Power Management IC (PMIC) Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive Power Management IC (PMIC) Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Automotive Power Management IC (PMIC) Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Automotive Power Management ICs (PMICs) Market size was valued at USD 4170.2 Million in 2021 and is poised to grow from USD 4570.54 Million in 2022 to USD 9515.94 Million by 2030, at a CAGR of 9.6% during the forecast period (2023-2030).

The presence of a large number of players have resulted in an intense competition for the global automotive power management ICs market. vendors compete on grounds of product innovation, price, performance, and customer service. The market is characterized by a high level of technological innovation, as companies continue to develop and introduce new, more advanced PMIC solutions to meet the increasing demands of the automotive industry. Prominent players are indulged in the development of advanced PMIC solutions offering more efficient, intelligent, and reliable solutions than the existing ones. They are also investing heavily in research and development to stay ahead of the competition and introduce new technologies and solutions to the market. The global Automotive Power Management ICs (PMICs) market is highly competitive, with a large number of players competing for market share. 'Texas Instruments Inc. (US)', 'Infineon Technologies AG (Germany)', 'NXP Semiconductors N.V. (Netherlands)', 'STMicroelectronics N.V. (Switzerland)', 'ON Semiconductor Corporation (US)', 'Renesas Electronics Corporation (Japan)', 'Maxim Integrated Products, Inc. (US)', 'ROHM Semiconductor (Japan)', 'Toshiba Corporation (Japan)', 'Analog Devices, Inc. (US)', 'Melexis NV (Belgium)', 'Dialog Semiconductor (UK)', 'Microchip Technology Inc. (US)', 'Vishay Intertechnology, Inc. (US)', 'Diodes Incorporated (US)', 'Semtech Corporation (US)', 'Delta Electronics, Inc. (Taiwan)', 'Fuji Electric Co., Ltd. (Japan)', 'Nuvoton Technology Corporation (Taiwan)', 'Richtek Technology Corporation (Taiwan)'

The demand for electric vehicles has been growing at a significant pace due to the increasing concerns over the environment and the need to reduce carbon emissions. This has led to a surge in the demand for power management ICs that are required to manage the power supply to the electric vehicles efficiently.

Growing focus on energy efficiency: With environmental concerns becoming more prominent, there is a growing focus on energy efficiency in the automotive industry. PMICs play a critical role in improving energy efficiency by reducing power consumption and optimizing power usage. As a result, there is a growing demand for PMICs that are more efficient and intelligent.

In 2022, Asia Pacific dominated the global automotive power management ICs (PMICs) market in terms of revenue share. This can be attributed to the flourishing automotive industry in the region, particularly in China where the new energy vehicle sector is leading the market for battery electric vehicles. The increasing demand for electric cars in the region has also contributed significantly to the growth of the market, with global electric car sales expected to reach almost seven million units in 2022.

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