Power Electronics IC Market 2023| Drivers, Opportunities, Trends, and Forecast by 2032
Rise in demand for power ICs in consumer electronic devices such as smartphones, smart watches, laptops, TVs, and SSDs for efficient power management
WILMINGTON, DELAWARE , UNITED STATES, February 9, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, Power Electronics IC Market Analysis Report by Product Type (Low Voltage Regulator, Motor Control ICs, Integrated ASSP Power Management ICs, Battery Management ICs), by Voltage (Low, Medium, High), by Material (Silicon, Silicon Carbide, Gallium Nitride, Others) and by Industry Vertical (Consumer Electronics, IT and Telecommunication, Aerospace Defense, Automotive, Industrial, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
Power Electronics IC refers to a wide range of integrated circuits (ICs) that are used for power management of host system. Compact, lightweight power electronic ICs are integrated in large-scale in battery-operated consumer electronic devices such as smartphones, portable media players, and tablets to address space constraints and manage direction and flow of electrical power. These ICs are majorly used in automotive electronic systems including automotive power generation, switched mode power supply (SMPS), traction inverter, DC-DC converter, and electric drives as they offer superior power efficiency through voltage supervision, high density, and design flexibility of power modules in compact devices.
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In addition, power management ICs uniquely suit in RADAR, satellite communication, data center power supplies as they are compact and reliable with extended battery life and reduce cooling cost due to much lower heat generation. Increase in implementation of electronic components integrated with IoT in system controls and audio functions enhances user experience and implies that the power electronics IC market share would undergo substantially high growth in coming years.
The report offers an in-depth analysis of the market, such as estimates of revenue in the coming years, key segments, factors influencing growth, constraints, and conceivable opportunities. It also includes an assessment of the competitive landscape and regional analysis. This report serves as a valuable resource for industry leaders, stakeholders, new entrants, and brokers, assisting them in developing tactics to showcase market dominance and gain their enterprise goals.
Rise in demand for power ICs in consumer electronic devices such as smartphones, smart watches, laptops, TVs, and SSDs for efficient power management as well as growth in applications of industrial chips in LED lighting, photovoltaic inverters, and digital signage primarily drives the power electronics IC market growth. However, high capital investments, fluctuating raw material price, and complex integration process during designing and fabrication process tend to hamper the power electronics IC market growth.
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Surge in use in Industrial and Automotive application
Power electronic ICs are used in various industry segments such as factory automation, industrial motor drives, photovoltaic inverters, smart motors, and electric vehicle chargers. In addition, these compact chips are used in MCUs, which provides advances in digitization, power efficiency, connectivity, and other features.
In December 2019, Toshiba Electronic Devices and Storage Corp. launched TB9045FNG, a general-purpose system power IC, which is available in four versions with output voltages ranging from 1.1V to 1.5V. The system power IC features high efficiency buck-boost DC-DC converter and 6V input power generated by this converter is converted to output voltages of 1.1V (TB9045FNG-110), 1.2V(TB9045FNG-120), 1.25V(TB9045FNG-125), and 1.5V(TB9045FNG-150). IC incorporates a circuit with 5V constant voltage, current capacity of 400mA for microcontrollers as well as 3 circuits with 5V constant voltage, current capacity of 100mA for sensors and other interfaces. It comprises low voltage detection circuit for battery power supply, overheat detection circuit, oscillator frequency monitoring circuit to monitor against IC’s own failure and watchdog timer circuit to monitor external MCU.
In addition, it features built-in diagnostic circuit in failure detection circuit to detect latent faults and secure higher functional safety. Operation voltage and temperature ranges from 2.7 to 18V and -40 to 1250C, respectively. This general-purpose system power IC helps to achieve functional safety in safety-critical automotive systems such as electric power steering (EPS) and braking.
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Research Methodology:
The global power electronics IC industry was thoroughly researched through a comprehensive approach combining primary and secondary research methodologies. Secondary research provided a broad overview of goods and services, whereas primary research delved deeper into the various factors driving the market. To obtain comprehensive insights into the industry, a meticulous search was undertaken utilizing various sources such as press releases, specialized business periodicals, and government websites. This meticulous research methodology has provided a unique and extensive insight into the global power electronics IC market.
The Report Provides:
⦁ Assessment of market share at both regional and country levels.
⦁ Analysis of market share for key industry players.
⦁ Strategic recommendations tailored for new entrants.
⦁ Forecasts for all mentioned segments and regional markets over the next decade.
⦁ Exploration of market trends, including drivers, challenges, opportunities, threats, investment opportunities, and recommendations.
⦁ Strategic recommendations specifically focused on the primary business segment within the market forecast.
⦁ Overview of major general trends through competitive landscaping.
⦁ Company profiling with detailed insights into strategy, financials, and recent developments.
⦁ Mapping of the latest technological progress and supply chain trends
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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