Market Research Future (MRFR), asserts in its recently published research report, that the global power supply in packaging and power supply on chip market might reach approximately USD 2,300 Mn by 2023, at a significant CAGR throughout the review period.
Drivers and Restraints
Simple manufacturing process of PSiP and PwrSoC in comparison with conventional DC to DC converters ICs is one of the major factors fueling the power supply in package (PSiP) and power supply on chip (PwrSoC) market growth. PwrSoC and PSiP is a superior technology, which eliminates the need for external components and provides a shorter version of the design process when compared to DC-DC converter IC. Moreover, incorporating mixed-signal technology with PSiP and PwrSoC IC is another major factor driving their adoption over the review period. The distinct offerings of these compact ICs with low power consumption and affordable manufacturing cost with greater functionality and fault management for numerous applications make them a sough-after IC solution. This is likely to drive the growth of the market over the assessment period.
The development of silicon-carbide (SiC) and gallium nitride (GaN) is likely to create new application opportunities for PSiP and PwrSoC ICs in the foreseeable future. Innovation in silicon-based technology has led to the rising utilization of wide-bandgap materials including gallium nitride (GaN) and silicon carbide (SiC) electrical modules. Such technologies are yet to reach their maximum potential, hence the prospects for PSiP and PwrSoC remain limitless.
MRFR’s report consists of a comprehensive segmental analysis of Power Supply in Package and Power Supply on Chip Market Share on the basis of product, application area, and region. By the product, the market has been divided into PSiP and PwrSoC. Based on the value, the PSiP segment accounted for an substantial 89.4% market share in 2017. In addition, the segment is poised to surpass a market valuation of USD 2,000 milllion by 2023, reflecting a double-digit growth rate. Based on the application area, the market has been segmented into telecom and IT, consumer electronics, medical devices, automotive, and military and defense. The consumer electronics segment held a 58.8% share of the market and is slated to expand at a CAGR of 25.7% over the assessment period (2018-2023).
The geographical analysis of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (LAtin America, the Middle East and Africa) The market in APAC is expected to remain highly attractive during the forecast period. In 2017, the asia pacific registered a 48.3% share of the market and projected to witness 26.9% CAGR during the review period. The manufacturing sector in the APAC region has undergone massive development in recent years, which is likely to have a positive impact on the market in the region. China’s rise as a global industrial hub has drawn noteworthy investment in the countries.
North America and Europe are the two other important markets for PSiP and PwrSoC. over the review period, the market in North America is slated to witness a relatively higher CAGR, meanwhile Europe will uphold its position as the third largest PSiP and PwrSoC market over the review period.
The major market players operating in the global market as identified by MRFR are Intel Corporation, ASE Group, TDK Corporation, Jiangsu Changjiang Electronics Technology Co. Ltd., Amkor Technology, Vicor Corporation, Panasonic Corporation, Texas Instruments Incorporated, ON Semiconductor, and Bel Fuse Inc.
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