The growth in the automotive power management IC market is expected to be driven by technological advancements and increasing demand for advanced driver assistance systems (ADAS). Market Lifecycle Stage.
New York, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Power Management IC Market - A Global and Regional Analysis: Focus on Product, Application, and Country Analysis - Analysis and Forecast, 2022-2031" - https://www.reportlinker.com/p06362930/?utm_source=GNW
Globally connected vehicles are moving the automotive industry into a new era.Vehicles are being deployed with extensive sensor platforms that generate vast amounts of data from different systems, such as LIDAR, telematics control units, or OBD-II interfaces.
At the same time, the advent of 5G and underlying low latency, high bandwidth V2X technology is enabling dozens of new automotive use cases.
The automotive power management IC market is in the growth phase.The implementation of power management ICs is increasing in electric vehicles.
As a result, the market is expected to flourish in the forecast period.
The automotive power management IC market is driven by several factors, such as increasing production and sales of electric cars, growing implementation of 5G networks, and increasing demand for PMICs in advanced driver assistance systems (ADAS).
Automobile producers increasingly see themselves as both service providers and producers of products. In addition to creating the next generation of connected and autonomous vehicles that will enhance traffic flow and safety, manufacturers are investing in a wide range of innovative mobility services.
Impact of COVID-19
COVID-19 caused disruptions in the supply chain of the semiconductor industry.It had short-term and long-term effects on the automotive power management IC market.
The environment for semiconductor operations is quite complex.For assembly, testing, packing, and equipment, suppliers and partners around the world need a lot of raw materials.
Increased use of the internet is benefiting the automotive power management IC market.Since the market is predominantly driven by expanding car sales and production, the influence of the COVID-19 pandemic on the automotive power management IC market was unavoidable.
Due to the repeated lockdowns and shutdowns of manufacturing units, car output and sales grew slowly in various parts of the world.
Segmentation 1: by Application
• ADAS and Safety
• Battery Management
• Body Electronics and Infotainment Systems
The ADAS and safety segment is expected to dominate the automotive power management IC market during the forecast period 2022-2031 due to the increasing demand for electric vehicles.
Segmentation 2: by Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
In terms of vehicle type, the automotive power management IC market is expected to be dominated by the passenger cars segment.
Segmentation 3: by Input Voltage
• <6 V
• 6 to 32 V
• >32 V
Automotive power management ICs with 6-32 V power range are expected to dominate the market during the forecast period. This segment is expected to grow at a moderate growth rate between 2021 and 2031.
Segmentation 4: by Mounting Style
• Plated Through Hole (PTH)
• Surface-Mount (SMT)
The surface-mount (SMT) segment is expected to dominate the automotive power management IC market during the forecast period owing to the increasing demand for surface mount ICs in vehicles.
Segmentation 5: by Region
• North America
• Asia-Pacific and Japan
• South America
• Middle East and Africa
Europe generated the highest revenue of $1.23 billion in 2021, which is attributed to the increased sales of electric vehicles in the Europe region. The automotive power management IC market is attractive in Europe due to the availability of diverse market segments.
Recent Developments in the 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 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 (MHEV), hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV), and battery-powered electric vehicles (BEV).
Demand – Drivers and Limitations
Following are the demand drivers for the automotive power management IC market:
• Increasing Sales of Electric Vehicles
• Increasing Demand for Advanced Driver Assistance Systems (ADAS)
The market is expected to face some limitations as well due to the following challenge:
• Thermal Challenges for Powering High-Current Rails
How can this report add value to an organization?
Product/Innovation Strategy: Increasing demand for cooling of batteries and high-temperature parts in electric vehicles is boosting the growth of the automotive power management IC market. Therefore, the automotive power management IC market business is a high-investment and high-revenue generating model.
Growth/Marketing Strategy: The automotive power management IC market is an exponentially growing market holding enormous opportunities for the market players.Some of the strategies covered in this segment are product launches, partnerships and collaborations, business expansions, and investments.
The companies’ preferred strategy has been product launches, partnerships, and collaborations to strengthen their positions in the global automotive power management IC market.
Competitive Strategy: Key players in the automotive power management IC market analyzed and profiled in the study involve automotive power management IC market-based product manufacturers that provide raw or processed products.Moreover, a detailed competitive benchmarking of the players operating in the automotive power management IC market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The top segment players who are leading the automotive power management IC market include private companies that capture around 30% of the market share, whereas public companies in the market capture around 70% of the market share.
Some of the prominent names established in this market are:
Company Type 1: Private Companies
• Power Clinic Inc.
• Silergy Corp.
• Lion Semiconductor
• TOREX USA Corp.
• Rantle East Electronic Trading Co., Limited
Company Type 2: Public Companies
• Texas Instruments Incorporated
• Analog Devices Inc.
• NXP Semiconductors B.V.
• Infineon Technologies AG
• Sanken Electric Co., Ltd.
• Allegro MicroSystems
• Microchip Technology Incorporated
• Renesas Electronics Corporation
• Cypress Semiconductor Corporation
• Qualcomm Technologies, Inc.
• Rutronik Elektronische Bauelemente GmbH
• Maxim Integrated
Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).
• North America
• South America
• Rest-of-South America
• Middle East and Africa (MEA)
• Asia-Pacific and Japan
• South Korea
Read the full report: https://www.reportlinker.com/p06362930/?utm_source=GNW
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