Power Management ICs (PMICs) Market Updates

Power Management ICs (PMICs) Market size was valued at USD 37.7 Billion in 2023 and is poised to grow from USD 40.48 Billion in 2024 to USD 71.56 Billion by 2032, growing at a CAGR of 7.38% during the forecast period (2025-2032).

The power management integrated circuit market has a few significant competitors and is relatively competitive. However, only a few of the large competitors presently control the market in terms of market share. Texas Instruments Inc., ON Semiconductor Corporation, Analogue Devices Inc., Renesas Electronics Corporation, and others are significant market participants. The vendors concentrate on launching new products, forming alliances, and making acquisitions in order to increase their market presence. 'Texas Instruments Inc.', 'Analog Devices, Inc.', 'Infineon Technologies AG', 'STMicroelectronics NV', 'Maxim Integrated Products, Inc.', 'ON Semiconductor Corp.', 'NXP Semiconductors NV', 'Renesas Electronics Corp.', 'Toshiba Electronic Devices & Storage Corp.', 'Rohm Co., Ltd.', 'Dialog Semiconductor PLC', 'Power Integrations, Inc.', 'Silicon Laboratories Inc.', 'Intersil Corp. (Renesas Electronics Corp.)', 'Linear Technology Corp. (Analog Devices, Inc.)', 'Semtech Corp.', 'Monolithic Power Systems, Inc.', 'Microchip Technology Inc.', 'Diodes Inc.', 'Vicor Corp.'

With the growing need for energy efficiency and conservation, there is a rising demand for PMICs that can improve the energy efficiency of devices such as smartphones, laptops, and home appliances.

Increasing demand for high-performance and energy-efficient solutions: With the growing need for energy efficiency and high-performance electronics, there is a rising demand for power management ICs that can deliver efficient power conversion, management, and control. Manufacturers are developing new and advanced power management ICs that offer high efficiency, low standby power, and fast response times.

Asia Pacific is holding the biggest market share over the projection period, with a CAGR of 6.5%. The primary Asian economies that have an impact on PMICS and PMIC-embedded products include China, India, South Korea, Japan, and Taiwan. In the Asia-Pacific region, China, Japan, and India each possess large market shares for PMICS. A number of significant electronic equipment manufacturers are also essential to the region's prosperity. As more electric and hybrid vehicles are put on the road, the demand for PMICs in this area will rise as well. In 2021, the Chinese government issued three national regulations on the specifications for battery safety in electric vehicles, including their protection against thermal diffusion, mechanical shock, external fire, overcharge, and over-temperature.