Programmable Power Management IC Market to Witness Vigorous Expansion by 2027

Programmable power management IC is an integrated power management unit which is used for space constrained applications such as action camera, video doorbell, solid state drives, and other video processing applications. Programmable Power Management IC (PMIC) is ideal for powering single-core, dual-core, and quad-core system on chips.

Programmable Power Management IC Market – Competitive Landscape

Texas Instruments Incorporated

Founded in 1930, Texas Instruments Incorporated is headquartered in Dallas, Texas, US. The company designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. The Embedded Processing segment of the company offers connected microcontrollers, such as microcontrollers, stand-alone wireless connectivity solutions, and microcontrollers with integrated wireless capabilities. The company has around 30,000 employees in more than 30 countries across the globe.

STMicroelectronics

Founded in 1987, STMicroelectronics is headquartered in Geneva, Switzerland. The company is a global semiconductor company that manufacturer’s electronics and semiconductor products and semiconductor solutions. The company has approximately 100,000+ customer base and around 46,000 employees worldwide.

Integrated Device Technology, Inc.

Founded in 1980, Integrated Device Technology, Inc. is headquartered in San Jose, California, US. The company designs, develops, manufactures, and supplies a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial applications. The Computing, Consumer and Industrial segment provides clock generation and distribution products; programmable timing devices; computing timing solutions; and wireless power products.

Some of the key players operating in the global programmable power management IC market with significant developments include Texas Instruments Incorporated, ROHM Semiconductor, Active-Semi International Inc., STMicroelectronics, Integrated Device Technology, Inc., NXP Semiconductor, Analog Devices, Inc., RS Components Ltd., Maxim Integrated, and Cypress Semiconductor Corporation among others.

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Programmable Power Management IC Market – Dynamics

Advantage Offered by Programmable Power Management IC over Traditional Power Management ICs is driving the Market

The programmable power management IC market has witnessed phenomenal growth since last few years and is anticipated to grow at a decent pace during the forecast period. The major factors driving the growth of the global market is the superior features offered by programmable power management ICs over traditional power management ICs. The programmable power management IC increases system reliability and reduces the overall size and power consumption in multiple target applications with a high level of integration, flexibility, and programmability.

Furthermore, the primary application of programmable power management ICs is battery power management majorly being used in the automotive sector. The programmable power management ICs offer less power consumption and are battery friendly. Thus, programmable power management ICs are an essential part of electronic control units in the automotive industry. Also, the increasing demand for battery operated devices and various technological development by the key players are anticipated to fuel the growth of the global market during the forecast period. Moreover, stringent government policies regarding less energy consumption are fueling the growth of global programmable power management IC market during the forecast period.

However, the integration and programming complexity of programmable power management ICs is expected to hamper the growth of the global market in the coming years. Though manufacturers are engaged in research and development activities to overcome this barrier in the growth of the global market.

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