Automotive is Expected to be the Fastest Growing Segment During the Forecast Period 2021–2028

According to a new market research study on “Middle East & Africa Power Management IC Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and End-Use,” is expected to reach US$ 1,816.41 million by 2028 from US$ 1,391.04 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa power management IC market along with the drivers and restraints pertaining to the market growth. Deployment of next-generation 5G network, strengthening demand for battery powered devices, and expanding inclination towards electric vehicles are the major factor driving the growth of the Middle East & Africa power management IC market. However, lower availability of GaN IC devices hinders the growth of Middle East & Africa power management IC market.

The UAE, Egypt, Morocco, and Kuwait are the main countries in the Middle East & Africa region that that have faced the ill effects of COVID-19 pandemic. Majority of operations in the region were suspended due to an increase in the number of cases in the region. Many countries in the Africa region as still in developing state and not developed as the countries of the Middle East. The UAE is a well-known tourist place which receives thousands of travelers all the year. Since the tourism sector in the country suffered considerable economic losses, due international travel ban, demand for new television sets, air conditioners, and refrigerators reduced notably. This impacted the requirement for respective PMICS. Moreover, the end users in the region are highly dependent on international suppliers and witnessed significant supply chain disruption during Q2 of 2020. However, with beginning of Q3 of 2020, the demand for various semiconductor products including power management ICs increased among the end users owing to re-initiation of the operations.

The Middle East & Africa power management IC market is segmented on the basis of product type, end-use, and country. Based on product type, the market is segmented into voltage regulators, motor control, battery management, multi-channel ICs, and others and others. In 2020, voltage regulators segment held the largest share in the market, battery management is expected to be the fastest growing segment during the forecast period. Based on end-use, the market is segmented into automotive, consumer electronics, IT and telecom, healthcare, industrial, and others. In 2020, consumer electronics segment held the largest share in the market, automotive is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into South Africa, Israel, and Rest of MEA. In 2020, Israel held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.

NXP Semiconductors; Analog Devices, Inc.; INFINEON TECHNOLOGIES AG; ROHM CO., LTD.; Microchip Technology Inc.; Vishay Intertechnology, Inc.; Renesas Electronics Corporation; STMicroelectronics; Texas Instruments Incorporated; and Qorvo, Inc. are among the leading companies in the Middle East & Africa power management IC market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Renesas Electronics Corporation has launched the RAA215300 PMIC, which is optimized to complement Renesas’ RZ/V2L and RZ/G2L microprocessors that are designed for AI-enabled applications.

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