Power Management IC Market: Industry Analysis and Forecast (2025-2032)

The Power Management IC Market size was valued at USD 36.23 Billion in 2024 and the total Power Management IC revenue is expected to grow at a CAGR of 8.5% from 2025 to 2032, reaching nearly USD 69.59 Billion.
Power Management IC Market Overview:
Power management ICs are highly integrated power management solutions used for a wide range of battery-operated electronic devices. Power Management ICs are extensively used to fulfill power requirements in various applications such as consumer electronics, automobile, telecom & networking, and in the industrial sector. Power Management IC market is growing rapidly thanks to factors such as technological advancements and increased demand for battery-operated devices. Additionally, exponential growth in the sales of consumer electronics, especially smartphones, and unprecedented growth in the automobile sector have contributed to industry growth. Substantial growth in the use of next-generation mobile networks such as 3G, 4G, and 5G is expected to add to the market growth significantly.

The demand for power management integrated circuits (ICs) used in energy harvesting and power conversion applications is being driven by the growing adoption of renewable energy sources like solar and wind power. These integrated circuits (ICs) are essential for effectively regulating and transforming renewable energy sources into electrical power suitable for a range of uses, hence propelling the Power Management IC industry growth.
Through March and February 2024 (TTM), India imported 13,990 Power IC shipments from 813 foreign exporters, serving 528 Indian buyers, reflecting an 18% growth compared to the previous year. In February 2024, India received 1,604 shipments, marking a 47% year-on-year increase from February and a 5% sequential growth from January 2024. India primarily imports Power ICs from China, South Korea, and Taiwan. Globally, India is the largest Power IC importer with 67,929 shipments, followed by Vietnam with 50,075 and Russia with 37,934 shipments.To know about the Research Methodology :- Request Free Sample Report
Power Management IC Market Dynamics:
Rising Demand for Power Management ICs, Automotive Trends, and Industry Innovations

The growing usage of smart grid services in the industrial sector increasing demand for Power Management ICs from developed countries and government policies and incentives are some of the factors expected to enhance the overall demand for Power Management ICs through the forecast period.

Power in automotive uses requires high levels of reliability, efficiency, and diverse safety features. The increasing demand for power management integrated circuits (PMICs) in the automotive industry is driven by the rising need for wide voltage input or multiphase power, as well as support for automotive safety integrity level (ASIL) and full-system energy for high-powered system-on-chips (SoCs). Power Management IC applications cover various scopes including camera and radar technologies, infotainment and cluster systems, active safety features, body electronics, and lighting control, as well as electric, hybrid, and powertrain systems within Advanced Driver Assistance Systems (ADAS).

The electric vehicle industry has witnessed remarkable growth, driven by growing consumer awareness and supporting government regulations as global environmental concerns rise. For instance, according to the International Energy Agency (IEA), there were approximately 25.9 million electric vehicles globally in.
All-electric vehicles accounted for about 69.5% of plug-in electric vehicles that year.

The need for power management integrated circuits (ICs) is being driven by the widespread use of IoT devices in a variety of industries, including the smart home, industrial automation, healthcare, and automotive sectors. To provide long-term operation and communication, these devices which frequently run on batteries need effective power management systems.
Power Management IC (PMIC) Design Solutions




Challenge
Solutions
Impact on Design


Efficiency and Power Loss
High-efficiency topologies and low-resistance components
• Improved power conversion
• Reduced power loss


Thermal Management
Thermal dissipation techniques with optimized component placement
• Enhanced thermal dissipation
• Reduction of thermal-induced power losses


Power Integrity and Noise
Decoupling capacitors, filtering techniques, and proper grounding
• Reliable power integrity
• Minimized noise interference



Power Management IC Market Segment Analysis:
By End Users, the Automotive & Transportation segment held xx % market share in 2024 for the Power Management IC Industry. The automotive industry is witnessing a rapid technological transformation with the emergence of advanced driver assistance systems (ADAS) and the development of autonomous vehicles. This has led to an increased demand for power management ICs that are required to power these advanced technologies.
• Texas Instruments power management integrated circuits (PMICs) integrate multiple DC/DC converters in one package, simplifying power design by reducing component count and high power efficiency and performance. TI’s PMIC solutions include those that integrate several inductive step-down converters with linear regulators, charge pumps, or other analog circuits, such as battery chargers, and an I2C interface to save space.
Electric vehicles (EVs) are leading the way for end users to decrease air pollution, with many governments global providing incentives to promote their use. Ride-hailing companies are increasingly turning to electric vehicles with lithium-ion batteries and hybrid charging to replace their traditional gas-powered fleet. For Instance, Uber India integrate around 3,000 electric vehicles into its fleet by the end of . These factors all play a role in the growth of the passenger vehicles market, specifically electric cars, which in turn drives the revenue growth of the power management IC market.
• In June , Microchip extended its extensive range of dsPIC33C DSCs to include the new ISO 26262-compliant dsPIC33CK1024MP7xx family, catering to the large memory segment. This new family of dsPIC33C DSCs, equipped with 1 MB Flash, facilitates applications that run automotive software such as AUTOSAR, OS, MCAL drivers, ISO 26262 functional safety diagnostics, and security libraries.

Power Management IC Market Regional Insight:
Asia Pacific held the largest share in 2024 for the Power Management IC Market. The dominance in the area is fuelled by the electronics manufacturing industry, especially in countries such as China, Japan, South Korea, and Taiwan, as well as increasing demand in the automotive, consumer electronics, and industrial fields. The Power Management IC industry in this region is being strengthened by fast industrial growth, increasing use of electric cars, and the growth of 5G infrastructure.

The Chinese government released three national guidelines on the requirements for safety for batteries in electronic vehicles and their thermal diffusion, mechanical shock, external fire, overcharge, and over-temperature protection in . Power management manufacturers use various PMIC Product Types for multiple applications to comply with these standards. As a result, the Power management IC industry is expected to have an incredible rise in demand through the forecast period. The Asia-Pacific region is expected to witness approximately 1.4 billion 5G connections by the conclusion of . This growth is expected to be propelled by a decline in the average cost of 5G devices, swift network growth in numerous nations, and concerted efforts by prominent governments. Additionally, the 5G domain advancements have also contributed to market expansion. The Ministry of Science and ICT has reported that as of February , the nation has 29.13 million 5G subscribers, indicating a 113% surge compared to 13.66 million 5G subscribers in February .
• In June , Renesas Electronics Corporation released the ISL78083, a power management IC (PMIC) designed to simplify power supply configuration for use in multiple HD camera modules, leading to reduced development cycles, cost of materials (BOM), and supply chain risks.

Power Management IC Market Competitive Landscape:
The PMIC market is competitive, with major players concentrating on innovation to improve efficiency and back advanced applications. Texas Instruments is at the lead of the market with a broad range of PMICs created for automotive, industrial, and consumer electronics purposes. Their advancements consist of high-performance voltage regulators and integrated circuit solutions for managing batteries. Analog Devices is known for its top-notch power solutions in industrial automation and IoT, including advancements in energy-efficient designs. Qualcomm incorporates Power Management Integrated Circuits (PMICs) into their mobile platforms to enhance battery performance in smartphones and IoT devices. These businesses consistently allocate funds for research and development in order to keep up with the increasing needs of sectors such as automotive, telecommunications, and consumer electronics.
Recent Development
• In June 2024, Magnachip Mixed-Signal, Ltd. (MMS or the Company) announced the release of a multi-functional Power Management Integrated Circuit (PMIC) and a multi-channel level shifter to regulate different voltages and signals within display panels in IT devices.

• Jan 2023 Nordic Semiconductor plans to launch its third Power Management IC (PMIC), the nPM1300, in mid-2023. It supports larger battery charging and features four regulated power rails. The nPM1300 is optimized for efficiency and compact size, available in 3.1 x 2.4 mm WL-CSP or 5 x 5 mm QFN packages. It is digitally configurable via an I2C-compatible Two Wire Interface (TWI). Additionally, it includes system management functions like battery fuel gauge, system watchdog, and power loss warnings, enhancing Bluetooth Low Energy (LE) designs.

• In 2022, NXP Semiconductors announced the new MCX portfolio of microcontrollers designed to advance innovation in smart homes, smart factories, smart cities, and other industries and IoT applications.

• In May 2023, Semiconductor Components LLC (onsemi) announced a strategic partnership with Vitseco Technologies aimed at bolstering SiC (Silicon Carbide) End-user capacity expansion. The two companies have entered into a substantial 10-year long-term supply agreement valued at USD 1.9 billion, primarily centered on SiC products. Under the terms of this agreement, Vitseco will inject USD 250 million in investment to Onsemi for the acquisition of new equipment dedicated to SiC wafer production, boule growth, and epitaxy processes.
Power Management IC Market Scope: Inquiry Before Buying



Power Management IC Market


Report Coverage
Details


Base Year:
2024
Forecast Period:
2025-2032


Historical Data:
2019 to 2024
Market Size in 2024:
USD 36.23 Bn.


Forecast Period 2025 to 2032 CAGR:
8.5%
Market Size in 2032:
USD 69.59 Bn.


 Segments Covered:
by Product Type
Voltage Regulator
DC Regulators
Battery Management IC
Others


by End User
Automotive & Transportation
Consumer Electronics,
Industrial
Telecom & Networking
Others



Global Market, by region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Power Management IC Market Key Players:
North America:
1. Texas Instruments (USA)
2. Analog Devices (USA)
3. Vishay InterEnd User (Israel/USA)
4. ON Semiconductor (USA).
5. Qualcomm (USA)
6. Microchip End User (USA)
7. Mitsubishi Electric

Europe:
8. STMicroelectronics (Switzerland)
9. NXP Semiconductors (Netherlands)
10. Infineon Technologies (Germany)
11. Rohm Semiconductor (Germany)
12. Texas Instruments (USA)

Asia-Pacific:
13. Renesas Electronics (Japan)
14. Mitsubishi Electric (Japan)
15. Panasonic (Japan)
16. Texas Instruments
17. Toshiba (Japan)
18. Samsung Electronics (South Korea)
19. ROHM Co. Ltd. (Japan)
20. Murata Manufacturing (Japan)
21. STMicroelectronics (Switzerland)
22. Taiwan Semiconductor Manufacturing Company (TSMC) (Taiwan)
23. Fuji Electric (Japan)
24. Silergy Corporation (China)
25. Mitsubishi Electric

Middle East and Africa
26. Texas Instruments
27. Mitsubishi Electric
FAQ
1. What is the growth rate of the Power Management IC Market?
Ans. The Smart Sensor Market is growing at a significant rate of 8.5 % during the forecast period.

2. What is the expected Power Management IC Market size by 2032?
Ans. Smart Sensor Market size is expected to reach USD 69.59 Billion by 2032.

3. What was the Global Power Management IC Market size in 2024?
Ans: The Global Power Management IC Market size was USD 36.23 Billion in 2024.

4. Who are the key players in the Power Management IC market?
Ans. Texas Instruments, Analog Devices, Infineon Technologies, and ON Semiconductor are leading companies in the market.

5. What are the key innovations in the PMIC market?
Ans. Innovations include energy-efficient voltage regulators, battery management systems, and solutions for electric vehicles.