Market Trends of Switching Regulators Power Management IC Industry
This section covers the major market trends shaping the Switching Regulators Power Management IC Market according to our research experts:
Consumer Electronics Sector to Hold Significant Market Share
- The increase in disposable income, rising living standards, and technological penetration have increased demand for consumer electronics, particularly smart devices such as smart TVs, smartwatches, smartphones, and others, which supports industry demand for Switching Regulator power management ICs.
- For instance, in January 2021, Warburg Pincus, a private equity firm, invested USD 100 million in boAt, a manufacturer of earphones and smart wearables. In addition, the India Cellular & Electronics Association announced plans to establish an ecosystem for smartphone design, R&D, and application development in India.
- Furthermore, according to the Consumer Technology Association, retail earnings in the consumer electronics (CE) market in the United States increased steadily from 2018 to 2021. According to projected retail sales, consumer electronics retail sales in the United States reached USD 442 billion in 2021, which is expected to drive market growth in the future. Moreover, Smartphones accounted for the most retail revenue in the consumer electronics sector. According to the consumer technology association, in January 2021, Smartphones accounted for USD 73 billion in revenue 2021.
- In April 2022, OnePlus expanded its Nord series of smartphones with the release of the OnePlus Nord N20 5G in the United States. The smartphone is powered by a Qualcomm Snapdragon processor and has an AMOLED display. The smartphone has a 4500mAh battery and runs the Android 11 operating system. These developments in consumer electronics further boost the studied market.
- Similarly, in April 2021, Apple announced an acceleration of its US investments, with plans to make new contributions of more than USD 430 billion and add 20,000 new jobs across the country over the next five years, which will drive market growth in the future.
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Asia-Pacific is Expected to Witness Significant Growth
- Asia Pacific is expected to offer a significant growth opportunity for DC to DC switching regulators market during the forecast duration due to increasing investment by major smartphone and laptop manufacturers in the Asia Pacific region to improve their smartphone market share. The increasing demand for electronic devices impacts the need for DC to DC switching regulators.
- 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, China is increasing its investment in the automotive sector to strengthen its position as the market leader. For instance, in December 2021, the Chinese government removed several limits on foreign investment to boost automotive manufacturing in the country.
- The studied market is expected to grow as various Asian regional governments increase their investments in various sectors. For example, the Indian appliances and consumer electronics industry is expected to more than double to INR 1.48 lakh crore by 2025, according to IBEF. Furthermore, between April 2000 and December 2021, the electronic goods sector in India attracted USD 3.19 billion in FDI inflows.
- Moreover, the Government of India places a high value on electronics hardware manufacturing as it is a key 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.
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