(MENAFN- GlobeNewsWire - Nasdaq) The global battery charging IC market is experiencing growth due to several factors such as growing adoption of Electric vehicles (EVs) and proliferation of consumer electronics.Wilmington, Delaware , Aug. 02, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Battery Charging IC Market by Product Type (Linear Battery Chargers, Switching Battery Chargers, ?Module Battery Chargers, Pulse Battery Chargers, SMBus /I2C/SPI Controlled Battery Chargers, Buck/Boost Battery Chargers, Li-Ion/Li-Polymer Battery, Lead Acid Battery and Others) and End User (Consumer Electronics, Energy and Power, Automotive and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032" . According to the report, the battery charging ic market was valued at $7.7 billion in 2023, and is estimated to reach $17.0 billion by 2032, growing at a CAGR of 9.2% from 2024 to 2032.
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Prime determinants of growth
The battery charging IC market is experiencing growth due to growing adoption of Electric Vehicles (EVs) , and proliferation of consumer electronics. However, the high initial cost serves as a significant restraint factor for market growth to some extent. Moreover, the increasing consumer demand for energy-efficient and fast-charging solutions in device presents significant growth opportunities for the expansion of the Battery Charging IC market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size In 2023 | $7.7 Billion |
| Market Size In 2032 | $17.0 Billion |
| CAGR | 9.2% |
| No. Of Pages In Report | 250 |
| Segments Covered | Product Type, End-User, And Region. |
| Drivers | Growing Adoption Of Electric Vehicles (EVs) Proliferation Of Consumer Electronics Rising Demand For Portable Medical Devices |
| Opportunities | The Development And Adoption Of Wireless Charging Technologies The Increasing Consumer Demand For Energy-Efficient And Fast-Charging Solutions In Device |
| Restraint | High Initial Cost |
Segment Highlights
Based on Product type, the Li-Ion/Li-Polymer Battery segment accounts for more than half of the market share. The widespread adoption of lithium-ion and lithium-polymer batteries in various electronic devices, including smartphones, tablets, laptops, and wearables, drives the demand for compatible charging solutions. These battery types offer high energy density, lightweight construction, and longer cycle life compared to traditional alternatives, making them preferred choices for manufacturers and consumers.
Based on the End-user, the consumer electronics segment held the highest market share in 2023, accounting for nearly half of the battery charging IC market share due to the proliferation of smartphones, tablets, laptops, and wearable devices worldwide which drives the demand for efficient charging solutions tailored to these products. As consumers increasingly rely on electronic devices for communication, entertainment, and productivity, the need for fast, safe, and reliable charging becomes paramount. Moreover, continuous technological advancements in consumer electronics, including higher energy capacities and faster charging speeds, fuel the demand for innovative Battery Charging ICs to meet evolving consumer expectations for convenience and performance.
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Regional Outlook
On the basis of region, the battery charging IC market is analyzed across North America, Europe, Asia Pacific, and LAMEA. Asia-Pacific accounts for the largest market share and is anticipated to grow at the fastest CAGR during the forecast period owing to factors such as the presence of key manufacturing hubs, high demand for consumer electronics and automobile sector, and rapid industrialization and urbanization in countries like China, Japan, South Korea, and India. Moreover, due to continuous growth of industrialization, infrastructure development, and technological advancements in the region drives demand for Battery Charging ICs.
Players: -
Texas Instruments Incorporated
Renesas Electronics Corporation
The report provides a detailed analysis of these key players in the battery charging IC market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
In June 2023, Nordic Semiconductor launched multi-function nPM1300 Power Management IC with unique system management features.
Key Benefits For Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the battery charging IC market analysis from 2024 to 2032 to identify the prevailing battery charging IC market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the battery charging IC market segmentation assists in determining the prevailing li ion battery charger IC market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Battery Charging IC Market Share by Company Positioning Facilitates Benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of regional as well as global battery charging IC market trends, battery charging IC for US market, battery charging IC sector analysis, battery charging IC market data, battery charging IC market insights, battery charging IC market share by companies, battery charger IC with fuel gauge, battery charging IC company list, market segments, application areas, and market growth strategies.
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Battery Charging IC Market Key Segments:
By Type
Switching Battery Chargers
SMBus/I2C/SPI Controlled Battery Chargers
Buck/Boost Battery Chargers
Li-Ion/Li-Polymer Battery
By Application
By Region
North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Italy, Rest of Europe)
Asia- Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East and Africa (UAE, Saudi Arabia, Rest of Middle East And Africa)
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