The Power Management IC Market is expected to witness a high growth during the forecast period. The market is estimated to grow from USD 20.09 Billion in 2015 to USD 34.86 Billion by 2022, at a CAGR of 8.08% from 2016 to 2022. The base year considered for the study is 2015 and the forecast period provided is between 2016 and 2022. The objective of the report is to provide a detailed analysis of the market based on product, application, and geography; information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges); and detailed value chain and Porter’s five forces analysis. In addition, its objective is to strategically profile the key players and comprehensively analyze their market ranking and core competencies, along with detailing the competitive landscape for market player, and new product launches, acquisitions, expansions, partnerships, agreements, and contracts in the PMIC market.
The market, on the basis of application, has been further segmented into automotive, wearable electronics, consumer electronics, healthcare, building control, and industry & retail. The consumer electronics application held the largest market share of the global PMIC market in 2015. The power management ICs are used in a variety of consumer electronic devices such as smartphones, tablets, wireless audio devices, laptops, portable navigation systems, and digital cameras among others. Besides their extensive usage, the PMICs allow manufacturers acquire low-cost devices while maintaining the performance of the overall systems. The PMICs are being replaced with the conventional use of voltage regulators in electronic devices such as laptops since they are available as a multi-chip-package. These factors are driving the growth of the PMIC market for the consumer electronics sector.
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The PMIC market for the wearable electronics application sector is expected to exhibit the highest growth rate during the forecast period, due to the increasing demand for power management in the smartphones and fitness & activity trackers. Apart this, the automotive is also expected to witness considerable growth rate during the forecast period, as PMICs are being used widely in infotainment, ADAS, telematics, and automotive passive safety applications.
However, complex integration process for multi–power domain SOCs of PMICs is a major factor that is inhibiting the growth of the PMIC market. The multi-voltage SOCs require robust methodology and toolset for implementation and hence, a proper tool for analog and digital part is a crucial factor. Some of the major players in the PMIC market are Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Analog Devices, Inc. (U.S.), Fairchild Semiconductor Corp. (U.S.), Dialog Semiconductor PLC (U.K.), Maxim Integrated Products, Inc. (U.S.), STMicroelectronics N.V. (Switzerland), NXP Semiconductors Netherlands B.V. (Netherlands), Linear Technology Corp. (U.S.), and Renesas Electronics Corp. (Japan). These players adopted various strategies such as new product developments, mergers & acquisitions, collaborations, and agreement to grow in the PMIC market.
Global Power Management IC (PMIC) Market: Trending in 2021 New York, NY 3 June 2021: The Power Management IC (PMIC) Market is anticipated to reach USD 58.4 billion by 2026, according to a new research published by Polaris Market Research.
Additionally, the increasing adoption of energy harvesting equipment, and advancements in next generation mobile networks such as 3G, 4G, and 5G would boost market growth during the forecast period.
Increasing adoption of data centers, development of Big Data and IoT technologies, and increasing demand for consumer electronics further boosts the market growth.
Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/power-management-ic-market/request-for-sample Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global power management integrated circuits market throughout the forecast period.
The increasing penetration of electric vehicles, and growing applications in the automotive sector supports the market growth in this segment.
The rapid penetration of IoT devices, rising adoption of data centers, advancements in next generation mobile networks such as 3G, 4G, and 5G further fuels the growth of the market.
Market SynopsisThe power requirements of the host system are managed by the power management integrated circuits (PMIC).
The benefits provided by PMIC, such as efficient power conversion and heat dissipation, are increasing the rate of incorporation of PMIC in a wide range of devices.The global Power Management IC Market is expected reach a valuation of USD 38,388.9 Mn by the year 2023, reflecting a CAGR of 8.8% during the forecast period (2018-2023).Market Drivers and Restraints:The consumption and cost of energy had increased dramatically since past few years, inducing demand for energy-efficient devices.
The rapid progress in smart grid technology, the inclination of the urban population towards smart homes, increased usage of portable devices such as tablets and smart phones, increasing processing time on computing are some of the important factors that are increasing the demand for PMIC in the market, leading to the expansion of the global power management IC market.
The rapid development of automotive industry is increasing the application of PMIC in hybrid electric vehicles extensively, which is fueling the growth of the power management IC, globally.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/5038The increasing investment of governments of different countries in research and development for building smart cities that include the application of advanced technology is generating demand for energy conservation, leading to the increased adoption of power management IC in different sectors.
Along with these, the rise in awareness for energy harvesting solutions, increased application of LED (light emitting diodes) and the rise in the number of data centers are some other vital factors driving the global power management IC market.Key PlayersSome of the key players in the market are Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Analog Devices, Inc. (U.S.), Dialog Semiconductor PLC (U.K.), Maxim Integrated Products, Inc. (U.S.), STMicroelectronics N.V. (Switzerland), and Linear Technology Corp. (U.S.), Renesas Electronics Corporation (Japan), Toshiba Corporation (Japan), among others.Market Segmentation:The global power management IC market has been segmented on the basis of product and application.
The power management ASIC/ASSP segment is anticipated to dominate the global market during the forecast period owing to the increased use of these products in smart phones, laptops, tablets, and other portable devices.
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