Market Trends of Power Integrated Circuit Industry
DC-DC Switching Regulators to Hold the Market Share
- The DC/DC switching regulator delivers an electronic power supply that effectively joins the switching controller to transform electrical power. The increasing demand for electronic devices impacts the need for DC-to-DC switching regulators. According to IBEF, the Indian appliances and consumer electronics industry stood at USD 9.84 billion recently and is expected to more than double to reach INR 1.48 lakh crore (USD 21.18 billion) by 2025, which may further drive market growth.
- Furthermore, the electronic device manufacturing industry is generating demand for more accurate regulators for laptops, mobiles, and other electronic devices. Switching regulators enhance the performance of devices by reducing the heat level. The growing demand for thinner and more advanced devices is expected to fuel the demand for DC-to-DC switching regulators. According to the U.S. Census Bureau, the sales value of smartphones sold in the United States increased by 1.7 billion U.S. dollars for a total of 74.7 billion U.S. dollars in sales in 2022.
- For instance, in July 2022, Oppo announced a USD 60 million investment in India over the next five years as part of its 'Vihaan' project to strengthen the manufacturing ecosystem by empowering small and medium enterprises and micro, small, and medium enterprises.
- Moreover, in December 2022, Nisshinbo Micro Devices Inc. launched the NC2600 Series with synchronous rectification and a maximum output current of 2A step-down DC/DC switching regulator with a PWM/PFM auto switching mode function. Such developments of innovative products in the market may further drive market growth.
- Furthermore, the benefits of increased power conversion efficiency and design flexibility help make switching regulators the ideal solution for addressing various end markets, ranging from robust automotive to space-constrained consumer apps. For instance, in September 2022, ROHM Semiconductor developed the latest buck DC/DC converter IC that comes with a constructed-in MOSFET (switching regulator) and is designed for automotive applications such as infotainment and ADAS containing onboard sensors and cameras that are becoming more advanced. This unique BD9S402MUF-C IC is equipped with a load reaction performance selection function that leverages the features of QuiCur technology, allowing users to easily switch priorities between 'voltage fluctuation' and 'capacitance reduction' by setting the high or low of the GAIN pin.
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Asia-Pacific to Experience Significant Market Growth
- A PMIC is widely used in numerous automotive applications, such as ADAS, infotainment, battery management, navigation, telematics, and automotive clusters. Thus, rising sales of electric vehicles drive the demand for highly integrated system PMICs for applications requiring up to 8.5 A and high-power PMICs used in quad-core processors up to 12 A.
- According to IBEF, India's electric vehicle market is anticipated to reach INR 50,000 crore (USD 7.09 billion) by 2025. In addition, in March 2022, MG Motors, owned by China's SAIC Motor Corp., announced plans to raise USD 350-500 million in private equity in India to fund its future needs, including EV expansion.
- Moreover, in February 2022, 20 carmakers, including Tata Motors Ltd., Suzuki Motor Gujarat, Mahindra and Mahindra, Hyundai, and Kia India Pvt. Ltd., were chosen to acquire production-linked incentives (PLI) as part of the government's plan to increase local vehicle manufacturing and attract new investment. The 20 automobile companies have proposed an investment of around INR 45,000 crore (USD 5.95 billion). Such investments in automobiles fuel regional demand for power-integrated circuits.
- Furthermore, the region has significant players in the studied market who are increasingly focusing on developing innovative solutions and introducing new products to gain a competitive edge. For instance, in April 2022, the research team from the School of Microelectronics, University of Science and Technology of China (USTC), of the Chinese Academy of Sciences (CAS) announced that they had developed two power management integrated circuits with low electromagnetic interference and fast transient responses. Both circuits were presented at the IEEE International Solid-State Circuits Conference (ISSCC), the top conference in integrated circuit design.
- Moreover, the Government of India places a high value on electronics hardware manufacturing as it is a crucial component of the Make in India, Digital India, and Start-up India programs. With various government initiatives to boost domestic manufacturing, India has already seen initial growth in production and assembly activities for products such as mobile phones and other consumer electronics. The Indian appliances and consumer electronics industry is expected to more than double to INR 1.48 lakh crore (USD 17.922 billion) by 2025, according to IBEF.
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