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DUBLIN--(BUSINESS WIRE)--Dec 1, 2022--
The "Automotive Power Management IC Market - A Global and Regional Analysis: Focus on Product, Application, and Country Analysis - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global automotive power management IC market is projected to reach $10,186.4 million by 2031 from $4,176.0 million in 2021, at a CAGR of 9.5% during the forecast period 2022-2031. The growth in the automotive power management IC market is expected to be driven by technological advancements and increasing demand for advanced driver assistance systems (ADAS).
Market Lifecycle Stage
Globally connected vehicles are moving the automotive industry into a new era. Vehicles are being deployed with extensive sensor platforms that generate vast amounts of data from different systems, such as LIDAR, telematics control units, or OBD-II interfaces. At the same time, the advent of 5G and underlying low latency, high bandwidth V2X technology is enabling dozens of new automotive use cases.
The automotive power management IC market is in the growth phase. The implementation of power management ICs is increasing in electric vehicles. As a result, the market is expected to flourish in the forecast period.
Impact
The automotive power management IC market is driven by several factors, such as increasing production and sales of electric cars, growing implementation of 5G networks, and increasing demand for PMICs in advanced driver assistance systems (ADAS).
Automobile producers increasingly see themselves as both service providers and producers of products. In addition to creating the next generation of connected and autonomous vehicles that will enhance traffic flow and safety, manufacturers are investing in a wide range of innovative mobility services.
Market Segmentation
Segmentation 1: by Application
Segmentation 2: by Vehicle Type
Segmentation 3: by Input Voltage
Segmentation 4: by Mounting Style
Segmentation 5: by Region
Recent Developments in the Automotive Power Management IC Market
Demand - Drivers and Limitations
The following are the demand drivers for the automotive power management IC market:
The market is expected to face some limitations as well due to the following challenge:
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The top segment players who are leading the automotive power management IC market include private companies that capture around 30% of the market share, whereas public companies in the market capture around 70% of the market share.
Some of the prominent names established in this market are:
Company Type 1: Private Companies
Company Type 2: Public Companies
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KEYWORD:
INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/01/2022 10:15 AM/DISC: 12/01/2022 10:17 AM
http://www.businesswire.com/news/home/20221201005767/en