The power management IC market size is expected to reach USD 77.60 billion by 2034, according to a new study by Polaris Market Research. The report “Power Management IC Market Share, Size, Trends, Industry Analysis Report: By Type (Battery Management IC, Motor Control IC, Voltage Regulator, Multi-channel Power Management IC, Integrated ASSP Power Management IC, and Others), By End User, And By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The power management IC market is experiencing rapid growth owing to its widespread adoption across various industries such as consumer electronics, semiconductors, and more. The power management IC is beneficial in improving power density, prolonging battery life, decreasing electromagnetic interference, preserving power and signal integrity, and ensuring safety when exposed to elevated voltages. Further, the rise in the semiconductor industry is driving the power management IC market growth by accelerating technological advancements and innovations that enhance the performance and efficiency of power management ICs.
The semiconductor industry is developing more sophisticated and smaller chips to integrate power management ICs more effectively into various electronic devices, such as 5G smartphones and industrial machinery. This enables better power efficiency and management, which is crucial as devices become increasingly complex.
Moreover, the growth of the semiconductor industry supports the mass production and cost reduction of power management ICs, making them more accessible for various applications and driving market expansion. For instance, in March 2024, Tata Electronics commenced the construction of a semiconductor facility valued at Rs 91,000 crore in Gujarat. Further, Tata Electronics and Taiwan's Powerchip Semiconductor Manufacturing Corporation collaborated to construct India's first AI-enabled fabrication lab to produce chips for applications like power management ICs, microcontrollers, and display drivers.
In recent years, there has been a significant rise in the integration of power management ICs in healthcare devices due to the increasing adoption of portable and wearable medical technologies. These devices, such as portable monitors, diagnostic equipment, and wearable health trackers, require efficient power management to ensure reliable performance and longer battery life.
Power management ICs optimize power consumption, enabling medical devices to operate continuously and effectively. Additionally, the surge in remote patient monitoring and telemedicine has accelerated the demand for compact, energy-efficient healthcare devices, further propelling the growth of the power management IC market.
Power Management IC Market Report Highlights
· By type analysis, the multi-channel power management IC segment accounted for a significant market share due to its ability to manage multiple power rails and voltage levels within a single device.
· Based on end user analysis, the automotive segment is expected to grow at the fastest CAGR from 2025 to 2034. This is due to the increased manufacturing of automobiles incorporated with additional features to meet the rising consumer demand.
· Asia Pacific dominated the market in 2024 due to the expansion of consumer electronics markets and the widespread adoption of advanced electronic devices such as smartphones and tablets.
· North America accounted for a significant market share owing to the advanced technological infrastructure and the presence of major semiconductor companies.
· The key market players include Texas Instruments Incorporated; Onsemi; Analog Devices Inc.; ROHM Co. Ltd; Vishay Intertechnology Inc.; Infineon Technologies AG; STMicroelectronics N.V.; Mouser Electronics India; NXP; and Renesas Electronics Corp.
Polaris Market Research has segmented the power management IC market report based on type, end user, and region:
By Type Outlook (Revenue, USD Billion, 2020-2034)
Battery Management IC
Motor Control IC
Voltage Regulator
Multi-channel Power Management IC
Integrated ASSP Power Management IC
Others
By End User Outlook (Revenue, USD Billion, 2020-2034)
Automotive
Consumer Electronics
Industrial
Computing
Communication
Building & Automation
Retail
Healthcare
Others
By Regional Outlook (Revenue, USD Billion, 2020–2034)
North America
- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Mexico
- Brazil
- Argentina
- Rest of Latin America
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. Global Power Electronic Testing Market Insights
- 4.1. Power Electronic Testing Market – Market Snapshot
- 4.2. Power Electronic Testing Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising Adoption of Electric Vehicles
- 4.2.1.2. Expansion of Renewable Energy Systems
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Cost and Complexity of Advanced Testing Solutions
- 4.2.3. Public opinion and privacy legal precedents
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Power Electronic Testing Market Trends
- 4.6. Value Chain Analysis
- 5. Global Power Electronic Testing Market, by Provision Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 5.3. Test Instruments and Equipment
- 5.3.1. Global Power Electronic Testing Market, by Test Instruments and Equipment, by Region, 2020–2034 (USD Billion)
- 5.4. Professional Testing Services
- 5.4.1. Global Power Electronic Testing Market, by Professional Testing Services, by Region, 2020–2034 (USD Billion)
- 6. Global Power Electronic Testing Market, by Device Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 6.3. Individual Power Provision Types
- 6.3.1. Global Power Electronic Testing Market, by Individual Power Provision Types, by Region, 2020–2034 (USD Billion)
- 6.4. Multi-Device Modules
- 6.4.1. Global Power Electronic Testing Market, by Multi-Device Modules, by Region, 2020–2034 (USD Billion)
- 6.5. Power Management ICs
- 6.5.1. Global Power Electronic Testing Market, by Power Management ICs, by Region, 2020–2034 (USD Billion)
- 7. Global Power Electronic Testing Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 7.3. Industrial Automation and Machinery
- 7.3.1. Global Power Electronic Testing Market, by Industrial Automation and Machinery, by Region, 2020–2034 (USD Billion)
- 7.4. Automotive and Mobility Solutions
- 7.4.1. Global Power Electronic Testing Market, by Automotive and Mobility Solutions, by Region, 2020–2034 (USD Billion)
- 7.5. Information & Communication Technology (ICT)
- 7.5.1. Global Power Electronic Testing Market, by Information & Communication Technology (ICT), by Region, 2020–2034 (USD Billion)
- 7.6. Renewable Power and Utility Networks
- 7.6.1. Global Power Electronic Testing Market, by Renewable Power and Utility Networks, by Region, 2020–2034 (USD Billion)
- 7.7. Aerospace and Defense Applications
- 7.7.1. Global Power Electronic Testing Market, by Aerospace and Defense Applications, by Region, 2020–2034 (USD Billion)
- 7.8. Others
- 7.8.1. Global Power Electronic Testing Market, by Others, by Region, 2020–2034 (USD Billion)
- 8. Global Power Electronic Testing Market, by Geography
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Power Electronic Testing Market Assessment, By Geography, 2020–2034 (USD Billion)
- 8.3. Power Electronic Testing Market – North America
- 8.3.1. North America: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.3.2. North America: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.3.3. North America: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.3.4. Power Electronic Testing Market – US
- 8.3.4.1. US: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.3.4.2. US: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.3.4.3. US: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.3.5. Power Electronic Testing Market – Canada
- 8.3.5.1. Canada: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.3.5.2. Canada: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.3.5.3. Canada: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4. Power Electronic Testing Market – Europe
- 8.4.1. Europe: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.2. Europe: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.3. Europe: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4.4. Power Electronic Testing Market – UK
- 8.4.4.1. UK: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.4.2. UK: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.4.3. UK: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4.5. Power Electronic Testing Market – France
- 8.4.5.1. France: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.5.2. France: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.5.3. France: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4.6. Power Electronic Testing Market – Germany
- 8.4.6.1. Germany: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.6.2. Germany: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.6.3. Germany: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4.7. Power Electronic Testing Market – Italy
- 8.4.7.1. Italy: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.7.2. Italy: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.7.3. Italy: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4.8. Power Electronic Testing Market – Spain
- 8.4.8.1. Spain: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.8.2. Spain: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.8.3. Spain: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4.9. Power Electronic Testing Market – Netherlands
- 8.4.9.1. Netherlands: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.9.2. Netherlands: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.9.3. Netherlands: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4.10. Power Electronic Testing Market – Russia
- 8.4.10.1. Russia: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.10.2. Russia: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.10.3. Russia: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.4.11. Power Electronic Testing Market – Rest of Europe
- 8.4.11.1. Rest of Europe: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.4.11.2. Rest of Europe: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.4.11.3. Rest of Europe: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5. Power Electronic Testing Market – Asia Pacific
- 8.5.1. Asia Pacific: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.2. Asia Pacific: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.3. Asia Pacific: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5.4. Power Electronic Testing Market – China
- 8.5.4.1. China: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.4.2. China: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.4.3. China: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5.5. Power Electronic Testing Market – India
- 8.5.5.1. India: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.5.2. India: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.5.3. India: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5.6. Power Electronic Testing Market – Malaysia
- 8.5.6.1. Malaysia: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.6.2. Malaysia: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.6.3. Malaysia: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5.7. Power Electronic Testing Market – Japan
- 8.5.7.1. Japan: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.7.2. Japan: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.7.3. Japan: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5.8. Power Electronic Testing Market – Indonesia
- 8.5.8.1. Indonesia: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.8.2. Indonesia: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.8.3. Indonesia: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5.9. Power Electronic Testing Market – South Korea
- 8.5.9.1. South Korea: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.9.2. South Korea: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.9.3. South Korea: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5.10. Power Electronic Testing Market – Australia
- 8.5.10.1. Australia: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.10.2. Australia: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.10.3. Australia: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.5.11. Power Electronic Testing Market – Rest of Asia Pacific
- 8.5.11.1. Rest of Asia Pacific: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.5.11.2. Rest of Asia Pacific: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.5.11.3. Rest of Asia Pacific: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.6. Power Electronic Testing Market – Middle East & Africa
- 8.6.1. Middle East & Africa: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.6.2. Middle East & Africa: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.6.3. Middle East & Africa: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.6.4. Power Electronic Testing Market – Saudi Arabia
- 8.6.4.1. Saudi Arabia: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.6.4.2. Saudi Arabia: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.6.4.3. Saudi Arabia: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.6.5. Power Electronic Testing Market – UAE
- 8.6.5.1. UAE: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.6.5.2. UAE: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.6.5.3. UAE: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.6.6. Power Electronic Testing Market – Israel
- 8.6.6.1. Israel: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.6.6.2. Israel: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.6.6.3. Israel: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.6.7. Power Electronic Testing Market – South Africa
- 8.6.7.1. South Africa: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.6.7.2. South Africa: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.6.7.3. South Africa: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.6.8. Power Electronic Testing Market – Rest of Middle East & Africa
- 8.6.8.1. Rest of Middle East & Africa: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.6.8.2. Rest of Middle East & Africa: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.6.8.3. Rest of Middle East & Africa: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.7. Power Electronic Testing Market – Latin America
- 8.7.1. Latin America: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.7.2. Latin America: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.7.3. Latin America: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.7.4. Power Electronic Testing Market – Mexico
- 8.7.4.1. Mexico: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.7.4.2. Mexico: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.7.4.3. Mexico: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.7.5. Power Electronic Testing Market – Brazil
- 8.7.5.1. Brazil: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.7.5.2. Brazil: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.7.5.3. Brazil: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.7.6. Power Electronic Testing Market – Argentina
- 8.7.6.1. Argentina: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.7.6.2. Argentina: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.7.6.3. Argentina: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 8.7.7. Power Electronic Testing Market – Rest of Latin America
- 8.7.7.1. Rest of Latin America: Power Electronic Testing Market, by Provision Type, 2020–2034 (USD Billion)
- 8.7.7.2. Rest of Latin America: Power Electronic Testing Market, by Device Type, 2020–2034 (USD Billion)
- 8.7.7.3. Rest of Latin America: Power Electronic Testing Market, by End Use, 2020–2034 (USD Billion)
- 9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
- 10. Company Profiles
- 10.1. AMETEK Programmable Power Inc.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Bureau Veritas
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Chroma ATE Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Intertek Group plc
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Keysight Technologies
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. National Instruments Corporation
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Rohde & Schwarz
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. SGS SA
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. TEKTRONIX, INC.
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Advantest Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Teradyne Inc.
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. DEKRA
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. TÜV SÜD
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. TÜV Rheinland
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. DNV GL
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development
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