India Power Management IC Market is Expected to Register a 10.10% CAGR Through 2030
Increasing Demand for Consumer Electronics and Growth of
Electric Vehicles (EVs) are likely to propel the market during the forecast
period.
According to
TechSci Research report, “India Power Management IC Market – By Region,
Competition, Forecast and Opportunities, 2020-2030F”, India Power Management IC Market was valued at
USD 4.27 Billion in 2024 and is expected to reach USD 7.67 Billion by 2030 with
a CAGR of 10.10% during the forecast period.
The
rapid growth of the consumer electronics sector is one of the key drivers of
the Power Management Integrated Circuit (PMIC) market in India. As technology
continues to evolve, there is a surge in demand for smaller, lighter, and more
power-efficient devices, which directly influences the need for advanced power
management solutions. Devices such as smartphones, laptops, wearables, and
smart home products are at the forefront of this trend. The adoption of these
products has become ubiquitous, with consumers increasingly seeking portable,
high-performance devices that offer extended battery life and seamless
performance.
PMICs
play a critical role in powering these devices efficiently by regulating
voltage, managing energy consumption, and enhancing battery life. In
smartphones, for instance, PMICs help control the power flow to the processor,
memory, and other components, ensuring that power is used optimally while
preventing overheating and overvoltage damage. The shift towards thin and
compact form factors further amplifies the need for integrated power solutions,
as space constraints limit the inclusion of multiple discrete components.
Moreover, the proliferation of wearable technology, such as smartwatches and
fitness trackers, also contributes to the growing demand for PMICs. These
devices require highly efficient power management to support small batteries
while ensuring extended operation over long periods. The ongoing adoption of
smart home products like intelligent lighting systems, smart thermostats, and
voice-controlled assistants adds to the demand for reliable and efficient power
management.
India's
rising middle class and disposable income also play a role in driving the
consumer electronics market, which directly fuels the need for more PMICs. With
a growing number of consumers adopting connected and smart devices, the demand
for efficient power management continues to grow, presenting lucrative
opportunities for the Indian PMIC market.
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Based
on End User, The Consumer Electronics held the largest market share in
2024. Consumer electronics dominate the
India Power Management IC (PMIC) market due to the rapid growth of the sector
and the increasing demand for energy-efficient, compact, and high-performance
devices. India’s expanding middle class, rising disposable income, and greater
affordability of electronic products have led to a surge in the adoption of
smartphones, laptops, wearables, and home appliances, all of which rely heavily
on power management solutions.
PMICs
are crucial in consumer electronics as they regulate power distribution and
ensure that electronic devices operate efficiently, preventing damage from
overvoltage or undervoltage and improving battery life. In smartphones, for
example, PMICs manage multiple functions such as voltage regulation, battery
charging, and power sequencing, which are vital for ensuring the devices’
longevity and performance. As these devices become increasingly sophisticated,
with features such as high-resolution displays, faster processors, and advanced
sensors, the need for efficient power management solutions grows.
The
trend toward miniaturization in consumer electronics further drives the demand
for PMICs. Modern devices are becoming slimmer and more compact, making it
essential to integrate power management functions into smaller, more efficient
chips. PMICs help achieve this by consolidating multiple functions into a
single integrated circuit, reducing the number of discrete components required,
saving space, and lowering production costs. As a result, PMICs enable the
creation of devices that are not only powerful but also energy-efficient and
space-efficient. Additionally, the growing trend of smart home devices,
wearables, and other connected technologies is boosting the demand for advanced
PMICs. These devices, often battery-powered and requiring continuous operation,
rely on power management ICs to maximize energy efficiency and extend battery
life. The ongoing expansion of India’s consumer electronics market ensures that
PMICs remain at the forefront, making it the dominant segment in the Indian
PMIC market.
Based
on region, North India is emerging as the fastest-growing region in the Indian
Power Management IC (PMIC) market due to several key factors that foster demand
for advanced power management solutions. One of the primary drivers is the
region’s increasing adoption of consumer electronics, including smartphones,
laptops, and smart home devices. The rise in disposable income and the growing
middle-class population in cities like Delhi, Chandigarh, and Jaipur have led
to higher consumption of electronic gadgets, all of which rely on efficient
power management systems. In addition, the push for electric vehicles (EVs) has
significantly contributed to the demand for PMICs in North India. With several
automotive manufacturing hubs and government initiatives promoting EV adoption
in states like Haryana and Uttar Pradesh, the region is witnessing a surge in
the production and use of electric vehicles. PMICs play a crucial role in EVs
by regulating battery management, charging systems, and the power distribution
required to optimize vehicle performance. Moreover, North India’s robust
infrastructure development, particularly in renewable energy projects, is
boosting the region’s demand for PMICs. States like Punjab, Rajasthan, and
Uttar Pradesh are investing heavily in solar and wind energy, creating a need
for power management solutions in energy generation, storage, and distribution.
As the country aims to meet renewable energy targets, smart grid technologies
and energy-efficient solutions are becoming essential, with PMICs playing a key
role in ensuring the stability and efficiency of power systems.
The
region also benefits from a growing IoT ecosystem, with various applications
across agriculture, healthcare, and smart cities. The increasing number of IoT
devices, which require low-power, high-performance PMICs, is further driving
market growth in North India. Combined with favorable government policies,
North India’s technological advancements, and growing demand for
energy-efficient solutions, the region is expected to continue being the
fastest-growing area in the Indian PMIC market.
Major companies
operating in the India Power Management IC Market are:
- Texas
Instruments Inc.
- Analog Devices,
Inc.
- Infineon
Technologies AG
- Qualcomm
Incorporated
- STMicroelectronics
N.V.
- NXP
Semiconductors N.V.
- Broadcom Inc.
- Microchip
Technology Incorporated
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“The India Power Management IC (PMIC)
market presents significant growth opportunities driven by increasing demand
across key sectors such as consumer electronics, electric vehicles, renewable
energy, and IoT. The rise of smart devices, EV adoption, and government
initiatives promoting energy efficiency and sustainability are fueling the need
for advanced PMIC solutions. Additionally, the expansion of renewable energy
infrastructure and smart grid technologies further enhances the market
potential. With a growing emphasis on energy efficiency and cost-effective
solutions, India offers a lucrative environment for manufacturers to develop
innovative, integrated PMIC products, creating substantial business
opportunities.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
“India Power Management
IC Market By Product Type (Voltage Regulators, Battery
Management ICs, Motor Control ICs, Multi-channel ICs, Others), By End User
(Consumer Electronics, Automotive, Industrial, Telecommunication, Healthcare,
Others), By Power Source (AC-DC, DC-DC), By Region, Competition, Forecast &
Opportunities, 2020-2030F”,
has evaluated the future growth potential of India Power Management IC Market and
provides statistics & information on Market size, structure and future Market
growth. The report intends to provide cutting-edge Market intelligence and help
decision-makers make sound investment decisions., The report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the India Power Management IC Market.
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