Automotive power management ICs (PMICs) provide highly-integrated and robust power management solutions for automotive applications. The PMICs support a comprehensive power supply for the system by a small form factor. Boost function integrated into the PMICs avoids system blackout under extreme battery voltage fluctuations. The low quiescent current of the PMICs reduces the standby current of always-on functions. The PMICs comply with AEC-Q100, and rich system safety functions help to comply with modern vehicle ECU requirements.
Read Report Overview: Automotive Power Management IC Market
The global automotive power management IC market is projected to reach $10,186.4 million by 2031 from $4,176.0 million in 2021, at a CAGR of 9.5% during the forecast period 2022-2031. The growth in the automotive power management IC market is expected to be driven by technological advancements and increasing demand for advanced driver assistance systems (ADAS).
Globally connected vehicles are moving the automotive industry into a new era. Vehicles are being deployed with extensive sensor platforms that generate vast amounts of data from different systems, such as LIDAR, telematics control units, or OBD-II interfaces. At the same time, the advent of 5G and underlying low latency, high bandwidth V2X technology is enabling dozens of new automotive use cases.
The automotive power management IC market is in the growth phase. The implementation of power management ICs is increasing in electric vehicles. As a result, the market is expected to flourish in the forecast period.
Impact:
The automotive power management IC market is driven by several factors, such as increasing production and sales of electric cars, growing implementation of 5G networks, and increasing demand for PMICs in advanced driver assistance systems (ADAS).
Automobile producers increasingly see themselves as both service providers and producers of products. In addition to creating the next generation of connected and autonomous vehicles that will enhance traffic flow and safety, manufacturers are investing in a wide range of innovative mobility services.
Impact of COVID-19
COVID-19 caused disruptions in the supply chain of the semiconductor industry. It had short-term and long-term effects on the automotive power management IC market. The environment for semiconductor operations is quite complex. For assembly, testing, packing, and equipment, suppliers and partners around the world need a lot of raw materials. Increased use of the internet is benefiting the automotive power management IC market. Since the market is predominantly driven by expanding car sales and production, the influence of the COVID-19 pandemic on the automotive power management IC market was unavoidable. Due to the repeated lockdowns and shutdowns of manufacturing units, car output and sales grew slowly in various parts of the world.
Recent Developments in the Automotive Power Management IC Market
- In June 2022, Renesas Electronics Corporation launched the ISL78083, a power management IC (PMIC) aimed at simplifying power supply design for use in multiple HD camera modules, reducing development cycles, bill of materials (BOM) cost, and supply chain risks.
- In June 2021, Microchip expanded its broad portfolio of dsPIC33C DSCs to cover the large memory segment with the new ISO 26262-compliant dsPIC33CK1024MP7xx family. This new family of dsPIC33C DSCs with 1 MB Flash enables applications running automotive software such as AUTOSAR, OS, MCAL drivers, ISO 26262 functional safety diagnostics, and security libraries. The family of dsPIC33 DSCs also includes a high-performance central processing unit (CPU) with a deterministic response and specialized peripherals for general automotive, advanced sensing and control, digital power, and motor control applications.
- In April 2021, STMicroelectronics launched a new fully integrated power management IC (PMIC) for AMOLED displays that combine a low quiescent current and enhanced flexibility to extend the battery runtime of portable devices.
- In April 2021, Infineon Technologies AG introduced a new family of battery management ICs, including TLE9012DQU and TLE9015DQU. The ICs enable an optimized solution for battery cell monitoring and balancing. The devices are suitable for a wide range of industrial, consumer, and automotive applications, such as mild hybrid electric vehicles (MHEV), hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV), and battery-powered electric vehicles (BEV).
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Analyst Thoughts
According to Shamal Gawande, Senior Research Analyst, BIS Research, “The automotive power management IC market is evolving at a rapid pace and is anticipated to continue to spur at the same pace in the following years. Businesses are coming up with innovative solutions and launching new products in the market. Collaborations and product launches are the key strategies assisting the market's growth. The massive shift in consumer preferences has provided a viable opportunity for automotive manufacturers to gain a strong ground in this domain. Moreover, increasing awareness regarding power management and electric cars along with growing safety concerns are expected to increase the adoption of automotive power management ICs globally.”
The market is estimated to grow from USD 20.09 Billion in 2015 to USD 34.86 Billion by 2022, at a CAGR of 8.08% from 2016 to 2022.
The objective of the report is to provide a detailed analysis of the market based on product, application, and geography; information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges); and detailed value chain and Porter’s five forces analysis.
In addition, its objective is to strategically profile the key players and comprehensively analyze their market ranking and core competencies, along with detailing the competitive landscape for market player, and new product launches, acquisitions, expansions, partnerships, agreements, and contracts in the PMIC market.The market, on the basis of application, has been further segmented into automotive, wearable electronics, consumer electronics, healthcare, building control, and industry & retail.
The consumer electronics application held the largest market share of the global PMIC market in 2015.
The power management ICs are used in a variety of consumer electronic devices such as smartphones, tablets, wireless audio devices, laptops, portable navigation systems, and digital cameras among others.
The PMICs are being replaced with the conventional use of voltage regulators in electronic devices such as laptops since they are available as a multi-chip-package.
Booming global automotive industry may also witness a significant growth in the market.The market is growing rapidly.
With rising technological innovation, competition, and M activities in the industry, many local and regional vendors are offering specific application products for varied end-users.
Among these products, the integrated ASSP power management ICs segment includes energy management ICs, wireless charging ICs, power factor correction controllers, LED driver ICs, battery charging and management ICs, Hot-swap controllers and power-over-ethernet (PoE) controllers.
On the basis of application, the power management IC market is segmented into automotive, consumer electronics, industries, telecom and networking, wearable and others.
Among these, the consumer electronics segment offer lucrative opportunities for the market players and is anticipated to project the fastest growth compared to other applications during the forecast period.Regional AnalysisThe market, on the basis of geography, has been segmented into four major geographic regions North America, Europe, Asia Pacific.
Asia Pacific accounts for the largest share of the power management IC market, followed by North America and Europe.
Global Power Management IC (PMIC) Market: Trending in 2021 New York, NY 3 June 2021: The Power Management IC (PMIC) Market is anticipated to reach USD 58.4 billion by 2026, according to a new research published by Polaris Market Research.
Additionally, the increasing adoption of energy harvesting equipment, and advancements in next generation mobile networks such as 3G, 4G, and 5G would boost market growth during the forecast period.
Increasing adoption of data centers, development of Big Data and IoT technologies, and increasing demand for consumer electronics further boosts the market growth.
Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/power-management-ic-market/request-for-sample Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global power management integrated circuits market throughout the forecast period.
The increasing penetration of electric vehicles, and growing applications in the automotive sector supports the market growth in this segment.
The rapid penetration of IoT devices, rising adoption of data centers, advancements in next generation mobile networks such as 3G, 4G, and 5G further fuels the growth of the market.
