Press release
Power Management Integrated Circuit Market : Industry Analysis & Future Growth Prospects to 2031
Transparency Market Research delivers key insights on the global power management integrated circuit market. In terms of revenue, the global power management integrated circuit (PMIC) market is estimated to expand at a CAGR of 16.6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global Power Management Integrated Circuit (PMIC) market.The global power management integrated circuit (PMIC) market is broadly affected by several factors, as power management integrated circuit (PMIC) is largely used in consumer electronics to manage the power flow and increase the power density in the battery life. Thus, the demand for power management integrated circuit (PMIC) is projected to rise across the globe in the near future, owing to the rising trend of electrification and digitization.
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Power management integrated circuit (PMIC) is an integrated circuit that helps manage power requirements of the host system. A PMIC is utilized to improve power density, extend battery life, reduce electromagnetic interference, preserve power and signal integrity, and maintain safety in the presence of variable voltages range. Using PMIC reduces the component count, increases the compactness and increases the energy efficiency, thereby catering to the demand in consumer electronics, automotive, telecommunication, and industrial control end-use industries.
In telecommunication, the introduction of next generation mobile networks, such as 5G, is likely to boost market during the forecast period. Increased number of smartphone users and launch of 5G in various parts of world have also increased the demand for PMICs in various applications such as networking equipment, smartphones, charging solutions, and IoT devices.
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Furthermore, recovery of the automotive market and rapid rise in demand for electric vehicles, automotive electronics, automatic systems, and advanced driver-assistance systems (ADAS) have fueled the demand for power source control and management and charging technology.
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Key players operating in the global power management integrated circuit (PMIC) market are Texas Instruments, Infineon, Analog Devices, Qualcomm, STMicroelectronics, Renesas, On Semi, Microchip, Rohm, Micron, NXP Semiconductors, Mitsubishi, and Toshiba.
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
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