The power management integrated circuit market is rapidly expanding due to the continual advancement in technology and large interests in energy efficiency. This IC type is quickly developing and supporting devices that are following the trend of becoming smaller and smarter. These devices hold various types of power management ICs which includes, but is not limited to, voltage regulators, integrated ASSP power management ICs, battery management ICs, switching controllers, power factor corrections and gate drivers. While voltage regulators are the most commonly used electronic component, all contribute to the power management systems found in most end-product.
When utilized, power management ICs function by managing the power requirements within handheld devices, thus giving end-product the ability to become smarter and operate more efficiently. As a result, the demand for more power management ICs within the electronic component industry is constantly increasing.
As both consumption and the cost of energy rises globally, maximizing energy efficiency has become a popular topic. Several government policies are now in place to reduce energy consumption, emissions and costs. Power management ICs used in battery operated devices serve as a solution to help reduce energy consumption as they regulate and monitor the flow of power from in and out of the device.
Most portable devices, such as smartphones and tablets, depend on power management ICs to deliver long life expectancies. The development of IoT, smart cities, energy efficiency as well as the advanced technology in smartphones all contribute to the overall demand. As power management ICs continue to develop, they enhance and support the overall operating performance of devices. Globally, the demand for more efficient and longer lasting smartphones is rising. By 2021, 50% of world’s total amount of electronic devices will be smartphones.
With demand expected to exponentially rise, multiple reports reveal that the power management IC market is expected to grow within the electronic component industry. According to a report from Transparency Market Research, the power management IC market is forecast to have a compound annual growth rate (CAGR) of 4.6% from 2018 to 2026, resulting in US $56.48 billion revenue by the end of 2026. Market Research NewsWire also reported the market having a different CAGR of 6.4% resulting in US $61.33 billion revenue by year 2023.
Additionally, reported lead time ranges for power management IC products in 3Q18 vary by manufacturer. While Diodes Inc.’s lead times for multi-source analog / power integrated circuits is 14-16 weeks, ON Semiconductor and STMicroelectronics reveals that their lead times are 30+ weeks. The complete report reveals that each electronic component market’s lead times trends and current pricing trends listed are either in stable or increasing states.
Qualcomm, Texas Instruments, STMicroelectronics, Maxim, ON Semi, Fujitsu, Analog Devices and Linear Technology Corp. are major manufacturers who are dominating the power management IC market with items such as Linear Technology’s LT1616ES6, LT1613CS5 and LT1933ES6, Maxim’s MAX1763 and MAXM17503, and STMicroelectronics’ L6727 and L6739 displaying high demand.
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