NEW YORK, Jan. 28, 2016 /PRNewswire/ -- Power Management in Wearable and Portable Devices : Evolution of Wearable Devices will Create a Wide Range of Opportunities for Power Management Integrated Circuits
There are many new emerging technologies to make devices portable and wearable, smarter, smaller, with high operating power, and flexible. With the emergence of advanced electronic devices, prolonged battery operation, complemented by small form factor, a lightweight design with intuitive user interface is achieved. Growing adoption of power management technology in various industries has garnered interest in every application. This market has attracted many semiconductor and power management integrated circuit manufacturers, as the potential for this market is huge. Every segment in this market is growing. The base year of this study is 2015 with 2016 to 2022 being the forecast period.
-The total Power Management Integrated Circuits (PMIC) market in portable and wearable devices generated a revenue of $ Billion in 2015 and is expected to reach $ Billion in 2022, at a Compound Annual Growth Rate (CAGR) of %. In 2015, the PMIC market in portable devices was worth $ Billion and the PMIC market in wearable devices was worth $ Million.
- Consumer inclination toward sophisticated gadgets and the shift toward a connected world are mainly driving the adoption of portable and wearable electronics.
- Increased demand for smartphones and tablets has a direct impact on the demand for PMICs; over % of daily media interactions are through screen-based devices such as smartphone, laptops, tablets, and wearable devices.
- It is estimated that about % of the purchase decision for wearable and portable devices is based on the long battery life of the device.
- This is mainly due to the limited battery capacity available in these devices; thus, to enhance the battery life of the system, power management units become inevitable.
- Not having a long battery life is a serious issue for wearable devices due to the battery size constraint. But with effecting power management units, prolonged battery life can be achieved; for instance, a fully charged smart watch can operate for days.
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