Portland, OR -- (SBWire) -- 06/15/2017 --According to a new report published by Allied Market Research, titled, Power Management Integrated Circuits (PMIC) Market by Product Type and End User: Global Opportunity Analysis and Industry Forecast, 2014-2022, the global power management integrated circuits (PMIC) market was valued at $37,802 million in 2015, and is expected to reach $57,888 million by 2022, growing at a CAGR of 6.1% from 2016 to 2022. The voltage regulators segment is anticipated to dominate the global market during the forecast period. The Asia-Pacific region dominated the global market in 2015, accounting for approximately 46.3% share.
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The global PMICs market is expected to witness significant growth during the forecast period, owing to surge in production of automobile & battery supported portable electronic devices, increase in need for better performance efficiency, and rise in concerns associated with the cost incurred for power management solutions. The demand for battery supported devices, such as smartphones, is expected to witness noticeable increase in the coming years, mainly in the Asia-Pacific countries such as India and China. Growing emphasis on consumer electronics industries concerned with semiconductor manufacturing, telecommunication and networking and automotive are expected to boost the growth of PMICs. However, factors such as increasing complexity in designing and developing PMIC architecture and uncertainty in economic stability of the market are expected to hamper the market growth.
The automotive and consumer electronics segment accounted for major share in the global market in 2015, and is expected to maintain this trend during the forecast period. The voltage regulators and integrated ASSP power management ICs segments accounted for 27.00% and 25.01% shares, respectively, in the global market in 2015. These segments are estimated to dominate the global PMICs market during 2016-2022.
The voltage regulators, integrated ASSP power management ICs, and battery management ICs segments jointly accounted for around 73.62% of the total share in the overall power management integrated circuits market in 2015. Voltage regulator, which is a major voltage fluctuation measurement component, captured the largest market share of 27.00% in the global market in 2015, with a market value of $10,206 million. This segment is estimated to grow at a CAGR of 6.45% during the forecast period. Voltage regulators are primarily used in electronics devices to ensure constant output level of voltage in spite of the fluctuations in input supply or current. They are used in various application areas such as automation, data processing, lighting, and among others. Furthermore, these devices play a crucial role in power supply systems. They are followed by integrated ASSP power management, a semiconductor embedded device designed for application-specific functioning. Integrated ASSP PMICs accounted for the second largest market share in the global market in 2015.
The automotive and consumer electronics segments are expected to dominate the global market during the forecast period. These segments are projected to grow at CAGRs of 6.16% and 6.42%, respectively. Changing demographics, such as increase in population and growth in disposable income of customers are expected to drive the power management integrated circuits market in the coming years.
The Asia-Pacific power management integrated circuit market is expected to witness lucrative growth opportunities during the forecast period. Asia-Pacific is one of the fastest growing markets for PMIC, registering a CAGR of 6.74% from 2016 to 2022. The Asia-Pacific PMIC market is projected to account for about 48.19% of the global market share by 2022. The global market is driven by increase in consumer electronics production, technological advancements, and rise in demand for automobile. Japan, South Korea, China, and India are the major revenue contributor to the global market.
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Key Findings of the Power Management Integrated Circuits (PMIC) Market
1. In 2015, voltage regulators segment dominated the global PMIC market, accounting for around 27.00% revenue share.
2. The automotive/transportation segment is expected to dominate the global market throughout the forecast period.
3. The consumer electronics segment is anticipated to grow at the highest CAGR of 6.42% during the forecast period.
4. The Asia-Pacific region dominated the global PMIC market in 2015, with China being the market leader.
The key players profiled in the global PMIC market report include Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Renesas Electronics Corp. (Japan), Infineon Technologies AG (Germany), Mitsubishi Group (Japan), Maxim Integrated Products Inc. (U.S.), and STMicroelectronics N.V. (Switzerland), and Toshiba Corp (Japan).
