New York City, 21 Feb 2020: 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. In 2017, the consumer electronics end-user segment dominated
the global power management integrated circuits market, in terms of revenue.
Asia-Pacific is expected to be the leading contributor to the global market
revenue during the forecast period.
The increasing demand
for battery operated devices and growing penetration of electric vehicles has
boosted the adoption of power management integrated circuits. Growing need for
energy efficient equipment, depleting fuel resources, and increasing need to
reduce energy consumption further supports the growth of power management
integrated circuits market.
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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. Other factors
supporting market growth include supportive government regulations, increasing
awareness, and technological advancements. Increasing adoption of data centers,
development of Big Data and IoT technologies, and increasing demand for
consumer electronics further boosts the market growth.
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 awareness among consumers, and
rising environmental concerns drive the market growth in the region. The
increasing penetration of electric vehicles, and growing applications in the
automotive sector supports the market growth in this segment. The increasing
use of Power Management Integrated Circuits in building and home automation,
and consumer electronics further supports power management integrated circuits
market market growth. 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.
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The companies
operating in the power management integrated circuits market include Infineon
Technologies AG, Dialog Semiconductor PLC, Linear Technology Corporation,
STMicroelectronics N.V., Texas Instruments Inc., Maxim Integrated Products,
Inc., NXP Semiconductors, Renesas Electronics Corp., ON Semiconductor Corp.,
and Fairchild Semiconductor International, Inc.. These companies launch new
products and collaborate with other market leaders to innovate and launch new
products to meet the increasing needs and requirements of consumers..
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
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Phone: 1–646–568–9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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