The Power Management IC (PMIC) Market has witnessed a lot of new Product Developments, Agreements, and Collaborations from 2012 to 2015
Power management IC (PMIC) is an electronic component used in a variety of applications, including consumer electronics, wearable electronics, automotive, healthcare, industrial & retail, and building control. Linear regulators, switching regulators, voltage references battery charging & management ICs, energy management ICs, and LED driver ICs among few others are widely used to achieve the desired set of device characteristics. The selection of PMIC for each application varies from one industry to another. The system-on-chips (SoCs), today, meet the growing demand for high power and are efficient and cost effective. MarketsandMarkets forecasts the PMIC market to reach USD 34.86 billion by 2022, at a CAGR of 8.08% from 2016 to 2022. The growth of this market can be attributed to the increasing applications of power management ICs (PMICs) in various sectors due to their advantages such as system control, battery management, and power management across various battery-powered devices.
Some of the key players in the power management IC (PMIC) market are Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Analog Devices, Inc. (U.S.), Fairchild Semiconductor Corp. (U.S.), Dialog Semiconductor PLC (U.K.), Maxim Integrated Products, Inc. (U.S.), STMicroelectronics N.V. (Switzerland), NXP Semiconductors Netherlands B.V. (Netherlands), Linear Technology Corporation (U.S.), and Renesas Electronics Corporation (Japan). These players have adopted various strategies such as agreements, mergers & acquisitions, collaborations, and new product developments to grow in the global PMIC market.
The PMIC market has witnessed a lot of new product developments, agreements, and collaborations from 2012 to 2015. For instance, in December 2015, Texas Instruments Inc. (U.S.) introduced an integrated battery monitor and protector, which measures 16 battery cells at once. This product provides an accurate cell-voltage monitoring for large batteries. It is ideal for hybrids, electric vehicles, and grid storage. The company has been actively developing new products to expand its existing product lines. Texas Instruments also focuses on expanding its product offerings in the healthcare and wearable electronics markets.
In addition, the key players in the PMIC market have adopted the strategies of mergers & acquisitions and collaborations to expand their geographical presence and enhance their product portfolios. For instance, Analog Devices, Inc. (U.S.) acquired Hittite Microwave Corporation (Hittite) (U.S.) in July 2014, which helped Analog Devices to further design and develop high performance ICs, subsystems, and instrumentation for a wide range of applications. In 2015, ON Semiconductor Corp. (U.S.) acquired Fairchild Semiconductor International Inc. (U.S.) for about USD 2.4 billion. With a total revenue of about USD 5 billion per year, the combined company would be among the top players in the power semiconductor category, with a strong focus on the automotive, industrial, and smartphone end markets. Dialog Semiconductor PLC (U.K.) has entered into collaboration with Qualcomm for Quick Charge 2.0 power supplies. The iW620 rapid charge interface IC resides on the secondary side of the AC/DC.
The players in the global PMIC market are continuously innovating their products and services with an aim to improve the performance and efficiency of their products. The above mentioned factors are contributing to the growth of the global PMIC market.
Related Reports:
Power Management IC (PMIC) Market by Product (Linear Regulator, Switching Regulator, Voltage References, Battery Management IC, Energy Management IC, LED Driver IC, POE Controller, Wireless Charging IC), Application, and Geography - Global Forecast to 2022
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