The power management IC market in Europe is expected to grow from US$ 11,342.18 million in 2021 to US$ 17,503.59 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028.
The adoption of electric vehicles is growing tremendously across the region. Sales of electric vehicles (EVs) have increased in the Europe markets. The Power management plays a significant role with respect to the efficiency of the device, be it an ultra-low-power wireless sensor network or automotive high-voltage power converter. With a rise in requirement for proper power management, companies are looking at manufacturing customized power management integrated chips. The stringent emission norms in European countries are driving the demand for electric vehicles to a notable extent. Thus, respective policies, norms, incentives, and subsidies promote the sales of electric vehicles across the region. A PMIC is widely used in various automotive applications, such as ADAS, infotainment, battery management, navigation, telematics, and automotive cluster. Thus, rising sales for electric vehicles drive the demand for highly integrated system PMIC for applications requiring up to 8.5 A and high power PMIC used in quad-core processors up to 12 A. The automotive sector is a major contributor in the growth of the power management IC market across the region
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The impact of COVID-19 differed from country to country across the Europe region as selected countries experienced an increase in the number of recorded cases and subsequently attracted strict and more extended lockdown periods or social isolation. Germany, Italy, United Kingdom, Russia, and France are the countries that were most affected by various restrictions and limitations. The European automotive industry was severely hit and experienced a decline of over 20 percent in overall automotive production due to stringent supply chain disruption caused by imposed lockdowns. The automotive industry is one of the largest market for power management ICs. However, with the increasing demand for electric vehicles in the region, the outlook post COVID for the automotive industry seems to be favorable. With decreased income level, buyers opted to purchase necessities such as household goods and groceries instead of non-essential, big-ticket purchases like home theatres and LCD TVs. Other sectors that deploy power management ICs such as electric/electronics, manufacturing & construction, telecommunication network, also experienced a weak demand.
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NXP Semiconductors
Analog Devices, Inc.
INFINEON TECHNOLOGIES AG
ROHM CO., LTD.
Microchip Technology Inc.
Vishay Intertechnology, Inc.
Renesas Electronics Corporation
STMicroelectronics
Texas Instruments Incorporated
Qorvo, Inc.
1) Segments Covered
By Product Type
- Voltage Regulators
- Motor Control
- Battery Management
- Multi-Channel ICs
By End-Use
- Consumer Electronics
- Automotive
- Healthcare
- IT and Telecom
- Industrial
The consumer electronics sector remains a dominant force in the PMIC market, with smartphones, tablets, and laptops requiring increasingly sophisticated power management to support features like high-resolution displays, powerful processors, and extended battery life. The demand for smaller, more efficient, and feature-rich PMICs in these devices is constantly growing, pushing manufacturers to innovate in areas like packaging, integration, and power density. Beyond consumer electronics, the automotive industry is experiencing a significant surge in demand for PMICs, fueled by the transition to electric vehicles (EVs) and the increasing integration of advanced driver-assistance systems (ADAS).
EVs, in particular, require robust and reliable power management for their high-voltage battery systems, motor drives, and onboard charging systems. ADAS features, such as radar, lidar, and camera-based systems, also require precise power delivery to ensure accurate and reliable operation. This growing complexity in automotive electronics is driving demand for specialized PMICs with high voltage and current capabilities, as well as stringent safety and reliability standards. The industrial sector is another key driver of the PMIC market, with applications ranging from factory automation and robotics to renewable energy systems and smart grid infrastructure. In these applications, PMICs are essential for managing power consumption, ensuring reliable operation in harsh environments, and optimizing energy efficiency.
The increasing adoption of IoT devices in industrial settings is further driving demand for low-power PMICs that can enable long battery life and reliable wireless connectivity. The healthcare sector is also witnessing a growing demand for PMICs, driven by the increasing use of portable medical devices, such as wearable health monitors and diagnostic equipment. These devices require small, efficient, and reliable power management solutions to ensure patient safety and comfort. The trend towards miniaturization and integration is a key factor shaping the PMIC market. Manufacturers are increasingly focusing on developing highly integrated PMICs that combine multiple functions into a single chip, reducing board space, and improving overall system efficiency. This trend is particularly important in portable and wearable devices, where size and weight are critical considerations. Advanced packaging technologies, such as wafer-level chip-scale packaging (WLCSP) and fan-out wafer-level packaging (FOWLP), are playing a crucial role in enabling this miniaturization.
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