Power Integrated Circuit Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Power Integrated Circuit Market Analysis
The power integrated circuit market is expected to register a CAGR of 6.1% over the forecast period. Furthermore, the rise in technological advancement and demand for battery-operated devices are the significant drivers fueling the need for the market in the forecast period. According to IDC, India's overall PC market was expected to increase to over 15 million units by 2022, up from 10 million units in the previous year.
- Increased usage of next-generation mobile networks, such as 4G and 5G, is expected to evolve into an essential driving factor for market growth. Also, with the rollout of the 5G market, new devices need to be installed, which is expected to expand the market's scope further. According to Ericsson, 5G connections are anticipated to reach 4.4 billion by 2027.
- Furthermore, the appearance of 5G technology has significantly improved investment in telecom base stations, driving demand for power management integrated circuits. Countries across the world are making significant efforts to upgrade their telecommunications infrastructure. For instance, in July 2022, Nokia signed a five-year deal with Norwegian mobile operator Ice to upgrade and extend its 5G radio network infrastructure nationwide. About 3200 base stations were to be modernized as part of the agreement, and an additional 3900 unique base stations are expected to be deployed in the country.
- The advancement in the demand for communication devices, such as call-enabled tablets and portable navigational devices (PNDs), also scales the requirement for power management ICs. Consumer electronic products have also transformed substantially recently, with vendors introducing advanced electronic gadgets with smart features such as touchscreen displays, keypads, and in-built memory, which in turn has increased the need for power management ICs in the market.
- Power management significantly affects the device's efficiency, whether it is an ultra-low-power wireless sensor network or an automotive high-voltage power converter. With a rise in proper power management, companies manufacture customized power management integrated chips.
- However, the cyclical nature of the semiconductor industry and the reduced size of printed circuit boards are predicted to hinder market growth. For instance, the shift toward 300-mm wafers from 200-mm wafers and the introduction of 450-mm wafers are expected to increase the production of chips per wafer. This is likely to result in a low ASP for power management ICs, increasing their adoption across all application sectors.
- Since the outbreak of COVID-19, the integrated circuit manufacturing industry was severely hit with a significant influence on its supply chain and production facilities as production came to a standstill in China and Taiwan, especially during the initial phase, which influenced the production of various OEMs across the globe. However, a significant share of major vendors stocked up on electronics due to the Chinese New Year, which helped mitigate the risk.
Power Integrated Circuit Market Trends
DC-DC Switching Regulators to Hold the Market Share
- The DC/DC switching regulator delivers an electronic power supply that effectively joins the switching controller to transform electrical power. The increasing demand for electronic devices impacts the need for DC-to-DC switching regulators. According to IBEF, the Indian appliances and consumer electronics industry stood at USD 9.84 billion recently and is expected to more than double to reach INR 1.48 lakh crore (USD 21.18 billion) by 2025, which may further drive market growth.
- Furthermore, the electronic device manufacturing industry is generating demand for more accurate regulators for laptops, mobiles, and other electronic devices. Switching regulators enhance the performance of devices by reducing the heat level. The growing demand for thinner and more advanced devices is expected to fuel the demand for DC-to-DC switching regulators. According to the U.S. Census Bureau, the sales value of smartphones sold in the United States increased by 1.7 billion U.S. dollars for a total of 74.7 billion U.S. dollars in sales in 2022.
- For instance, in July 2022, Oppo announced a USD 60 million investment in India over the next five years as part of its 'Vihaan' project to strengthen the manufacturing ecosystem by empowering small and medium enterprises and micro, small, and medium enterprises.
- Moreover, in December 2022, Nisshinbo Micro Devices Inc. launched the NC2600 Series with synchronous rectification and a maximum output current of 2A step-down DC/DC switching regulator with a PWM/PFM auto switching mode function. Such developments of innovative products in the market may further drive market growth.
- Furthermore, the benefits of increased power conversion efficiency and design flexibility help make switching regulators the ideal solution for addressing various end markets, ranging from robust automotive to space-constrained consumer apps. For instance, in September 2022, ROHM Semiconductor developed the latest buck DC/DC converter IC that comes with a constructed-in MOSFET (switching regulator) and is designed for automotive applications such as infotainment and ADAS containing onboard sensors and cameras that are becoming more advanced. This unique BD9S402MUF-C IC is equipped with a load reaction performance selection function that leverages the features of QuiCur technology, allowing users to easily switch priorities between 'voltage fluctuation' and 'capacitance reduction' by setting the high or low of the GAIN pin.
Asia-Pacific to Experience Significant Market Growth
- A PMIC is widely used in numerous automotive applications, such as ADAS, infotainment, battery management, navigation, telematics, and automotive clusters. Thus, rising sales of electric vehicles drive the demand for highly integrated system PMICs for applications requiring up to 8.5 A and high-power PMICs used in quad-core processors up to 12 A.
- According to IBEF, India's electric vehicle market is anticipated to reach INR 50,000 crore (USD 7.09 billion) by 2025. In addition, in March 2022, MG Motors, owned by China's SAIC Motor Corp., announced plans to raise USD 350-500 million in private equity in India to fund its future needs, including EV expansion.
- Moreover, in February 2022, 20 carmakers, including Tata Motors Ltd., Suzuki Motor Gujarat, Mahindra and Mahindra, Hyundai, and Kia India Pvt. Ltd., were chosen to acquire production-linked incentives (PLI) as part of the government's plan to increase local vehicle manufacturing and attract new investment. The 20 automobile companies have proposed an investment of around INR 45,000 crore (USD 5.95 billion). Such investments in automobiles fuel regional demand for power-integrated circuits.
- Furthermore, the region has significant players in the studied market who are increasingly focusing on developing innovative solutions and introducing new products to gain a competitive edge. For instance, in April 2022, the research team from the School of Microelectronics, University of Science and Technology of China (USTC), of the Chinese Academy of Sciences (CAS) announced that they had developed two power management integrated circuits with low electromagnetic interference and fast transient responses. Both circuits were presented at the IEEE International Solid-State Circuits Conference (ISSCC), the top conference in integrated circuit design.
- Moreover, the Government of India places a high value on electronics hardware manufacturing as it is a crucial component of the Make in India, Digital India, and Start-up India programs. With various government initiatives to boost domestic manufacturing, India has already seen initial growth in production and assembly activities for products such as mobile phones and other consumer electronics. The Indian appliances and consumer electronics industry is expected to more than double to INR 1.48 lakh crore (USD 17.922 billion) by 2025, according to IBEF.
Power Integrated Circuit Industry Overview
The power integrated circuit market is relatively competitive and consists of several major players. However, significant players presently dominate the demand in terms of market share. Major players in the market include Analog Devices Inc., Renesas Electronics Corporation, Texas Instruments Inc., ON Semiconductor Corporation, Infineon Technologies AG, etc. The vendors focus on introducing innovative products, partnerships, and acquisitions to extend their market presence further.
In June 2022, ROHM introduced new automotive LDO regulator ICs with proper operation at nanoscale output capacitance. Nanocap technology solves capacitor problems, opening new prospects for greater stability. The BD9xxN1 series (BD950N1G-C, BD933N1G-C, BD900N1G-C, BD950N1WG-C, BD933N1WG-C, BD900N1WG-C) was optimized for primary (direct connection to 12V) energy supplies in a wide range of applications, including powertrain, body, ADAS, and car infotainment.
In February 2022, Mitsubishi Electric Corporation announced the upcoming release of a half-bridge driver high-voltage (600V) integrated circuit (HVIC) with a built-in bootstrap diode (BSD) function, which could aid in the reduction of the number of parts required in inverter systems. The new HVIC, intended for circuits that drive power semiconductors in low-capacity inverter systems, was expected to also aid in reducing power consumption in white goods, electric bikes, and other electrical products.
Power Integrated Circuit Market Leaders
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NXP Semiconductors N.V.
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STMicroelectronics NV
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Analog Devices Inc.
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Maxim Integrated Products
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Texas Instruments Inc.
*Disclaimer: Major Players sorted in no particular order
Power Integrated Circuit Market News
- September 2022: Allegro MicroSystems, Inc., a leading sensor and power semiconductor solutions provider for motion control and energy-efficient systems, completed its previously-announced acquisition of Heyday Integrated Circuits (Heyday). The acquired company specialized in compact, fully integrated isolated gate drivers that enabled energy modification in high-voltage silicon carbide (SiC) and gallium nitride (GaN) wide-bandgap (WBG) semiconductor designs.
- April 2022: The research team from the School of Microelectronics, University of Science and Technology of China (USTC), of the Chinese Academy of Sciences (CAS) announced that they'd developed two power management integrated circuits with low electromagnetic interference and fast transient responses. Both circuits were presented at the IEEE International Solid-State Circuits Conference (ISSCC), the top conference in integrated circuit design.
Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitutes
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
- 4.4 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growing Inclination Towards Electric Vehicles
- 5.1.2 Increasing Demand for Battery-Powered Devices
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5.2 Market Challenges
- 5.2.1 Design Complexity and Performance Limitations in High Power Applications
6. MARKET SEGMENTATION
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6.1 By Type
- 6.1.1 DC-DC Switching Regulators
- 6.1.2 Power Management IC
- 6.1.3 Battery Management IC
- 6.1.4 Gate Driver IC
- 6.1.5 Linear Regulators
- 6.1.6 Other Power ICs (voltage references, power management ICs, power sequencers, integrated power stage etc.)
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6.2 By End-User Applications
- 6.2.1 Automotive (Body and Convenience)
- 6.2.2 Automotive (Chassis & Safety)
- 6.2.3 Automotive (EV/HEV Powertrain)
- 6.2.4 Automotive (ICE Powertrain)
- 6.2.5 Consumer (Appliances)
- 6.2.6 Consumer (Television)
- 6.2.7 Industrial (Automation)
- 6.2.8 Industrial (Building Automation)
- 6.2.9 Industrial (Energy & Power)
- 6.2.10 Industrial (Medical)
- 6.2.11 Communication (Enterprise Ethernet Switches and Routers)
- 6.2.12 Communication (Other Wired)
- 6.2.13 Communication (Wireless)
- 6.2.14 Computing & Data Storage
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6.3 By Geography
- 6.3.1 Americas
- 6.3.2 Europe, Middle East & Africa
- 6.3.3 Asia-Pacific
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 NXP Semiconductors N.V.
- 7.1.2 STMicroelectronics NV
- 7.1.3 Analog Devices Inc.
- 7.1.4 Maxim Integrated Products
- 7.1.5 Texas Instruments Inc.
- 7.1.6 ON Semiconductor Corporation
- 7.1.7 Dialog Semiconductor Plc.
- 7.1.8 Infineon Technologies AG
- 7.1.9 Qualcomm Incorporated
- 7.1.10 Renesas Electronic Corporation
- 7.1.11 ROHM CO., LTD
- 7.1.12 Vishay Intertechnology, Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
** Subject To AvailablityPower Integrated Circuit Industry Segmentation
An integrated circuit, sometimes called a chip, microchip, or microelectronic circuit, is a semiconductor wafer on which thousands or millions of tiny resistors, diodes, capacitors, and transistors are fabricated. It operates as a switch or rectifier in high-voltage applications such as automotive, solar, power supplies, and trains. The ICs allow the electricity to flow in the "on" form and stop it in the "off" condition. The studied market is segmented by various types, such as DC-DC switching regulators, Power Management IC, battery management IC, gate Driver IC, and linear regulators among different end-user applications such as automotive (body and convenience), automotive (chassis & safety), automotive (EV/HEV powertrain), automotive (ICE powertrain), consumer (appliances), consumer (television), industrial (automation), industrial (building automation), industrial (energy & Power), industrial (medical), communication (enterprise ethernet switches and routers), communication (other wired), communication (wireless), computing & data storage in multiple geographies (Americas, Europe, Middle East & Africa, and Asia-Pacific). The impact of COVID-19 on the market and impacted segments is also covered under the scope of the study. Further, the disruption of the factors affecting the market's expansion in the near future has been covered in the study regarding drivers and restraints. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Type | DC-DC Switching Regulators |
| Power Management IC | |
| Battery Management IC | |
| Gate Driver IC | |
| Linear Regulators | |
| Other Power ICs (voltage references, power management ICs, power sequencers, integrated power stage etc.) | |
| By End-User Applications | Automotive (Body and Convenience) |
| Automotive (Chassis & Safety) | |
| Automotive (EV/HEV Powertrain) | |
| Automotive (ICE Powertrain) | |
| Consumer (Appliances) | |
| Consumer (Television) | |
| Industrial (Automation) | |
| Industrial (Building Automation) | |
| Industrial (Energy & Power) | |
| Industrial (Medical) | |
| Communication (Enterprise Ethernet Switches and Routers) | |
| Communication (Other Wired) | |
| Communication (Wireless) | |
| Computing & Data Storage | |
| By Geography | Americas |
| Europe, Middle East & Africa | |
| Asia-Pacific |
Frequently Asked Questions
What is the current Power Integrated Circuit Market size?
The Power Integrated Circuit Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)
Who are the key players in Power Integrated Circuit Market?
NXP Semiconductors N.V., STMicroelectronics NV, Analog Devices Inc., Maxim Integrated Products and Texas Instruments Inc. are the major companies operating in the Power Integrated Circuit Market.
Which is the fastest growing region in Power Integrated Circuit Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Power Integrated Circuit Market?
In 2024, the North America accounts for the largest market share in Power Integrated Circuit Market.
What years does this Power Integrated Circuit Market cover?
The report covers the Power Integrated Circuit Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Power Integrated Circuit Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Power Integrated Circuit Industry Report
Statistics for the 2024 Power Integrated Circuit market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Power Integrated Circuit analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
