Global power management IC (PMIC) market is expected to reach $58.4 billion by 2026, according to the latest research available at Market Study Report LLC, report provides detailed segmentation of the power management integrated circuits market based on type, Application, End user and region.
As per the report, the consumer electronics end-user segment garnered maximum revenue in the global power management integrated circuits market in 2017. Asia-Pacific is expected to emerge as the leading contributor to the global market revenue over the estimated period, cites the report.
Key insights highlighted in the report include:
- The growing penetration of electric vehicles and rising demand for battery operated devices has accelerated the adoption of power management integrated circuits.
- The increasing demand for energy efficient tools, exhausting fuel reserves, and substantial need to minimize energy consumption promotes market growth.
- The surging adoption of energy harvesting equipment paired with developments in next-generation mobile networks like 3G, 4G, and 5G are slated to boost market growth over the forecast duration.
- Growing adoption of data centers, advancements in Big Data and IoT technologies, along with intensifying demand for consumer electronics will result in market growth.
- Supportive government protocols, rising awareness, and technological advancements will further bolster product demand.
In terms of regional growth, the Asia-Pacific captured the highest revenue in the global market in 2017 and is anticipated to lead the industry over the forecast years. This growth can be attributed to increasing awareness among customers, and growing concerns pertaining to the environment. Moreover, the increasing use of electric vehicles and expanding applications in the automotive sector favors market growth in this segment. The growing use of these ICs in building, home automation, and consumer electronics also supports market growth. Furthermore, the swift penetration of IoT devices, increasing adoption of data centers, developments in next-gen mobile networks like 3G, 4G, and 5G further augments the Asia-Pacific power management integrated circuits market growth.
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The report also offers an in-depth analysis of power management IC market drivers, restraints, and opportunities over the estimated timeline. A detailed analysis of the market in terms of product type, end-user spectrum, regional landscape, and competitive ranking analysis has also been elaborated in the report. In addition, company profile of key market contenders has been outlined in the report under the heads of business overview, financials, product benchmarking, and recent developments.
The competitive spectrum of the global power management integrated circuits market comprises of eminent industry players like Infineon Technologies AG, Linear Technology Corporation, Dialog Semiconductor PLC, STMicroelectronics N.V., Maxim Integrated Products, Inc., Texas Instruments Inc., NXP Semiconductors, ON Semiconductor Corp., Fairchild Semiconductor International, Inc., and Renesas Electronics Corp. Key strategies implemented by these industry majors include launching innovative products, merger, acquisition, and geographic expansion empowering them to gain sustainable profits, thereby augmenting global market growth.