LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global battery management integrated circuit (IC) market is projected to grow to USD 8.78 billion by 2021, at a CAGR of more than 5% over the forecast period.
This research report titled ‘Global Battery Management Integrated Circuit Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Battery management ICs are analog-intensive and application-specific mixed-signal ICs that are used in various end systems and their battery packs. The proliferation of consumer electronics goods with rechargeable batteries is a key driving factor for the growth of the global battery management IC market.
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Based on the product type, the report categorizes the global battery management integrated circuit market into the following segments:
- Fuel gauge ICs
- Battery charger ICs
- Authentication ICs
Fuel gauge ICs
“Fuel gauge ICs occupy a majority of around 46% of the global battery management IC market. The demand for highly accurate and reliable fuel gauges is driving the growth of the market segment,” says Raghu Raj Singh, a lead analyst at Technavio for semiconductor equipment research.
The high proliferation of mobile phones has created a huge demand for accurate fuel gauge indicators. Fuel gauges are becoming increasingly important for managing devices like smartphones, digital cameras, and laptops, which is expected to drive the market in the forecast period.
Battery charger ICs
The battery charger IC segment of the market is expected to be worth USD 3.58 billion by 2021, driven by the increased demand for portability of various consumer products. Since most applications require a battery charger, the solutions by and the opportunities for the vendors in the market are numerous. Smartphones, power banks, and electric vehicles are expected to drive the demand for battery charger ICs during the forecast period. Functionalities and features such as huge memories, high-resolution screens, haptics, gesture recognition, and voice recognition consume high amounts of energy.
Authentication ICs
“Authentication ICs form a small but integral part of the global management IC market, driven by the rapid growth in demand for a strong security infrastructure in electronic accessories, portable devices, mobile phones, computing, and consumer electronic devices,” says Raghu.
The revenue for authentication IC is calculated from the sale of laptops, notebooks, smartphones, smart bands, smartwatches, and tablets as these ICs are present mainly in consumer electronic devices. The capability of authentication ICs to achieve adequate levels of security found in some anti-counterfeiting and authentication applications will drive the market in the forecast period.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Analog Devices
- Fairchild Semiconductor
- Maxim Integrated
- Microchip Technology
- NXP Semiconductors
- Renesas Electronics
- Richtek Technology
- ROHIM Semiconductor
- Semtech
- Skyworks Solutions
- STMicroelectronics
- Texas Instruments
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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