As per the latest report published by Market Research Future (MRFR), the global power supply in package (PSiP) and power supply on chip (PwrSoC) market is set to reach a valuation of USD 2,350.4 Mn by the year 2023.
Power electronics are witnessing widespread adoption across various industry verticals. The incessant technological innovation has led to the need for greater power efficiency, high density, and design flexibility of power modules. PSiP and PwrSoC are hardware components that work as an intermediary to supply power in electrical device via a package or a chip. They facilitate a smooth flow of power over the printed circuit board (PCB).
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Simple manufacturing process of PSiP and PwrSoC as compared to conventional DC to DC converters ICs is major factor driving the market growth. PwrSoC and PSiP is superior technology, which eliminate the need for external components and offer a shorter version of the design process as compared to DC-DC converter IC. Furthermore, integrating mixed-signal technology with PSiP and PwrSoC IC is another factor driving their adoption. The diverse offerings of these compact ICs with low power consumption and manufacturing cost with greater functionality and fault management for various applications make them a sough-after IC solution.
The growth of silicon-carbide (SiC) and gallium nitride (GaN) is likely to create new application opportunities for PSiP and PwrSoC ICs in the years to come. Innovation in silicon-based technology has led to increased utilization of wide-bandgap materials such as gallium nitride (GaN) and silicon carbide (SiC) electrical modules. Such technologies are yet to reach their fullest potential, hence the prospects for PSiP and PwrSoC remain boundless.
MRFR’s report includes a comprehensive segmental analysis of the market on the basis of product, application area, and region. Based on product, the market has been segmented into PSiP and PwrSoC. In terms of value, the PSiP segment accounted for an astronomical 89.4% market share in 2017. In addition, the segment is expected to surpass a market valuation of USD 2,000 Mn by 2023, reflecting a double-digit growth rate. By application area, Power Supply in Package and Power Supply on Chip Market Report has been segmented into telecom and IT, automotive, consumer electronics, medical devices, and military and defense. The consumer electronics segment accounted 58.8% share of the market and is poised to increase at a CAGR of 25.7% during the forecast period (2018-2023).
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). The market in APAC is expected to remain highly attractive during the forecast period. In 2017, APAC commanded 48.3% share of the market and projected to exhibit 26.9% CAGR during the assessment period. Emergence of China as global manufacturing hub has been instrumental in driving the market growth in APAC. Meanwhile, the market in North America is set to witness the highest CAGR over 2023. Presence of a strong consumer electronics market in North America remains a favorable factor for market players operating in the region. Europe is expected to maintain its position as the third largest market for PSiP and PweSoC throughout the review period.
Intel Corporation, ASE Group, Amkor Technology, TDK Corporation, Panasonic Corporation, Bel Fuse Inc., Jiangsu Changjiang Electronics Technology Co. Ltd., Texas Instruments Incorporated, ON Semiconductor and Vicor Corporation are some of key companies profiled in MRFR’s report.
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