Power Management Integrated Circuits (PMIC) are electronic elements that supply extremely integrated power management for a wide collection of end-users along with consumer electronics, telecommunication, automotive & networking among others. PMICs incorporate power management, battery management, system management, interface, and audio functions. Devices attired with power management ICs tend to be smarter and more systematic, as they control the flow of power from in and out of the device. It also provides optimum integration solutions and once assembled with high-performance method technologies provide high potency solutions that increase battery life and cut back power consumption. PMIC market is growing speedily due to the factors like technological advancements and accumulated demand for battery-operated devices.
According to the study, ’Global Power Management Integrated Circuits (PMICs) Market to reach USD 72.7 billion by 2026.’ The key companies operating in the global power management integrated circuits (PMICs) are Texas Instruments Inc., ON Semiconductor Corp., Analog Devices Inc., Infineon Technologies AG, Mitsubishi Group, Renesas Electronics Corp, STMicroelectronics N.V., Dialog Semiconductor PLC, Maxim Integrated Products Inc., and Linear Technology Corporation. The rising demand for battery-operated devices globally, growing consumer electronics industry and the automotive sector is the factor responsible for the expansion of the market over the forecast amount. Moreover, the introduction of recent merchandise and services, as well as other strategic alliances by a market key player, will create a money-making demand for this market. For illustration: as per the Company’s news about the outbreak in September 2019, Texas Instruments launched an ultra-low-power low-dropout (LDO) linear voltage regulator with the industry’s lowest quiescent current (IQ) of sub-25 nA-one-tenth that of competing for ultra-small devices. However, complicated integration method for multi-power domain SOCs of PMICs is that the major issue restraining the expansion of global Power Management Integrated Circuits (PMICs) market during the forecast amount.
The market on the idea of geographical distribution is segmented by North America, Asia-Pacific, The Middle East & Africa, Europe, and Latin America. North America witness promising CAGR during the forecast amount. The Asia Pacific is the leading region across the world. Whereas, Asia-Pacific is additionally anticipated to indicate the highest rate of growth / CAGR over the forecast period 2020-2026. Based on the Product Type, the Power Management The Integrated Circuit (PMIC) market is segmented into Integrated ASSP, Battery Management ICs, Motor Control IC, Voltage Regulator, and Others. By Application segmented into Automotive / Transportation, Telecom, Consumer Electronics, Industrial, and Networking, Others.
Moreover, Power Management Integrated Circuit Applicant Consumer Electronics has calculated to exhibit the growing market share in forecasting amount. Therefore, due to increasing demand for power management in smartphones and fitness & activity trackers market will be in more demand during the forecast amount. The practical application of this Power Management Integrated Circuit (PMIC) market is healthcare, building control, and industry & retail application is expected to play a key role in changing the power management IC landscape; and the market for these sectors is expected to grow during the forecast amount. Additionally, the battery charger has elevated hold share in application of this market because of its longer Li-ion and coin cell battery durability. Thus, an increase in growth will attribute to increasing the efficiency of the market in the upcoming years.
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