North America Power Management IC Market Share by Size and Growth 2028

The power management IC market in North America is expected to grow from US$ 8,389.24 million in 2021 to US$ 12,439.66 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028.

Demand for consumer electronics products is increasing remarkably across the region. A few of the popular consumer electronics products are mobile phones, laptops, television sets, and tablets. Requirement for home appliances, such as washing machine, air conditioners, refrigerators, dish washers, and refrigerator, is growing substantially. In a mobile phone, power management integrated circuit (PMIC) handles most of the power-supply needs and other blocks, such as audio or interface. The growing demand for mobile phones enhances the requirement for cellular phone power management ICs. Texas Instruments Incorporated and Analog Devices, Inc. offer high quality PMICs for various mobile phones. Due the COVID-19 pandemic, many companies gave work from home to most of their employees wherever it was possible. Also, educational classes, fitness classes, and dance classes are on online platforms. All such developments increased the need for laptops and personal computers across the world. The unit shipments of the PC vendor Lenovo were above 19 million units across the globe in the third quarter of 2021. Rising number of shipments drives the requirement for monolithic PMICs used in laptops. Increasing utility of power management ICs in application/multimedia processors and sub-systems is another market driving factor. Newly launched power management solutions feature low dropouts (LDOs) and multiple outputs employing DC-DC converters. In 2020, more than 195 million notebook units were shipped across the world, and the figure is estimated to increase to over 210 million units by the end of 2021. The growing sales of notebook units drives the demand for respective notebook chipset power management ICs. Therefore, the rapidly growing demand for consumer products in various developing countries across the region propels the growth of the power management IC market.

The continuous growth in the number of virus-infected patients compelled government authorities to impose stringent lockdowns across the U.S. and other regions for the first three quarters of 2020. The manufacturing sector witnessed severe losses due to temporary factory shutdowns and low production volumes, which hindered the growth of automotive, electronics & semiconductor and retail sectors. Moreover, the social or physical distancing measures put limitations on the operations of logistics and other service providers. Owing to the COVID-19 infection, lower-income and old buyers seemed to be less optimistic towards expenditure on non-essentials and their spending declined by around 9 percent in 2020 as compared to 2019. This impacted the sales of various consumer electronics products such as smart watches, wearable, fitness trackers etc. In the United States, assembly plant closures affected the market from supply side. However, during the Q3 of 2020, the industries started to open, hence once again the supply chain resumed its operations. Therefore, the effects of COVID-19 pandemic had weakened the North America's power management IC market; however, the market experienced positive impact as the demand for power management IC started growing in the US as the end user industries started their operations from Q3 of 2020.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America power management IC market. The North America power management IC market is expected to grow at a good CAGR during the forecast period.

North America Power Management IC Market Revenue and Forecast to 2028 (US$ Million)

North America Power Management IC Market Segmentation

North America Power Management IC Market – By Product Type

Voltage Regulators
Motor Control
Battery Management
Multi-Channel ICs
Others

North America Power Management IC Market – By End-Use

Automotive
Consumer Electronics
IT and Telecom
Healthcare
Industrial
Others

North America Power Management IC Market – By Country

US
Canada
Mexico

North America Power Management IC Market – Companies Mentioned

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.

North America Power Management IC Market Strategic Insights

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North America Power Management IC Market Segmentation Analysis

North America Power Management IC Market Report Highlights

North America Power Management IC Report Scope

Report Attribute	Details
Market size in 2021	US$ 8,389.24 Million
Market Size by 2028	US$ 12,439.66 Million
CAGR (2021 - 2028)	5.8%
Historical Data	2019-2020
Forecast period	2022-2028
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
Regions and Countries Covered	North America US Canada Mexico
Market leaders and key company profiles	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.