Power Management ICs Market Key Factors for Continuous Growth

 

Power Management ICs 

A Power Management IC (PMIC) is an integrated circuit that aids in the control of the host system's power consumption. PMICs are utilised in battery-powered portable devices such as laptops, tablets, and smartphones to create an efficient power supply. While preserving the current limit, these integrated circuits govern the flow of power from multiple power sources such as USB, batteries, and wall adapters. PMICs may be found in a wide range of products, including cellphones, Bluetooth headsets, and MP3 players, as well as portable industrial and medical equipment.

According to Coherent Market Insights, The global Power Management ICs market is estimated to account for US$ 5,142.17 Mn in terms of value by the end of 2027, exhibiting a CAGR of 5.3% during the forecast period (2020-2027).

The increased popularity of portable devices is driving up demand for PMICs. Smartphones, laptop computers, and LEDs all employ PMICs. The demand for PMICs grows in tandem with the sales of these items. PMICs are largely utilised in smartphones to extend battery life and improve charging efficiency and speed. PMIC also offers power solutions for media players, medical and industrial portable devices, and navigation systems.

PMICs are designed for applications that use polymer/Li-ion batteries. Because of the increased demand for smartphones, it has become vital to incorporate PMICs in order to give the proper functionality and performance. Furthermore, the worldwide power management ICs market is predicted to rise due to rising demand for consumer electronics such as tablets, music players, smartphones, and televisions throughout the forecast period.

A system's power management section necessitates the use of a number of single-function power management ICs. As a result, inventory, assembly, bill of materials, and dependability costs have grown. On both the primary and secondary sides of a circuit board, for example, the power rails are usually handled by a simple single-function IC. Depending on the board's power, rail voltage, and other criteria, different ICs are required. More than five secondary power rails are required on modern circuit boards, increasing the board's complexity. As a result, these factors are projected to slow down the growth of the worldwide power management ICs market in the near future.

Market Opportunities-

Power Management ICs are commonly employed in products like smartphones, TVs, and smartwatches for power conservation and voltage management. Because of their enormous potential, PMICs are already being employed in converters to harvest energy from thermal, vibrational, solar, and other sources for use in a variety of applications. PMICs may be engineered to work in systems that get their energy from a variety of sources, including thermal, kinetic, and solar. The energy may subsequently be stored and used in goods or equipment like wearable electronics, wireless sensor networks, and other similar applications.

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