Demand for automotive power management ICs is expected to increase with the rise in the electric vehicle fleet.
FREMONT, Calif., Nov. 15, 2022 /PRNewswire/ — BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Automotive Power Management IC Market – A Global and Regional Analysis.
According to this study, the market size of the global automotive power management IC (PMIC) was valued at $4.17 billion in 2021 and is projected to reach $10.81 billion by 2031.
The following factors are responsible for the increase in demand for automotive PMIC:
- Increasing sales of electric vehicles
- Increasing demand for advanced driver assistance systems (ADAS)
- Increase in research and development activities and technological advancements in power electronics
- Government initiatives and stringent emissions regulations in various countries across the globe
The detailed study is a compilation of 211 market data tables and 55 figures spread through 246 pages.
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Analyst’s Take on the Market Projection
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 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.”
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Existing Competitive Landscape
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are Power Clinic Inc., Silergy Corp., Lion Semiconductor, TOREX USA Corp., Rantle East Electronic Trading Co., Limited, Texas Instruments Incorporated, SMIC, Analog Devices Inc., NXP Semiconductors B.V., Onsemi, Infineon Technologies AG, STMicroelectronics, Sanken Electric Co., Ltd., Allegro MicroSystems, Microchip Technology Incorporated, Renesas Electronics Corporation, Cypress Semiconductor Corporation, Qualcomm Technologies, Inc., Rutronik Elektronische Bauelemente GmbH, Maxim Integrated, and more.
Recent Developments in the Global 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 digital signal controllers (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 (MHEVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery-powered electric vehicles (BEVs).
Passenger Cars Segment to Witness the Highest Growth During the Forecast Period 2022-2031
As per the study conducted by BIS Research, the passenger cars segment is expected to dominate the market during the forecast period 2022-2031.
High demands for battery-operated devices, fast-paced technological advances, and the proliferation of new semiconductor applications have contributed to the surge in power management integrated circuits (PMICs) usage.
Heavy commercial vehicle system designers turn to PMICs to optimize power management, protect against overvoltage or overcurrent faults, implement human-machine interfaces, manage battery life and charging, and perform many other control functions for mechanical, electromechanical, and electronic devices.
Want to learn more about the latest trends in the power electronics industry? Speak to our analysts
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BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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