ALBANY, N.Y., April 5, 2021 /PRNewswire/ -- With the ever-increasing demand for compact electronics such as wearables and hearing devices, the need for high-efficiency and compact form factor integrated circuits for space-constrained applications is at an all-time high. Power management integrated circuits (ICs) exactly do this. Power management integrated circuits feature to control the flow and direction of electrical power, along with different power conversion capabilities, which makes them exceptionally suitable for battery-operated devices such as portable media players and mobile phones. In addition, power management ICs help utilize power efficiently and extend the life of compact electronic devices. Thus, with the monumental rise in demand for handheld electronic devices, power management ICs is witnessing an uptick in demand.
Power management ICs find substantial applications in the automobiles for a host of portable devices such as navigation devices. Besides core functions, power management ICs, power management ICs help to integrate portable electronics with car stereo system using a USB cable or plug-in cradle. This facilitates to enhance features of automobile information and entertainment systems by means of integrating applications such as touch screen support and power audio interfaces via power management ICs.
Therefore, with core applications in the highly lucrative consumer electronics and its ancillary industries, the demand for power management ICs is predicted to continue to rise in the years ahead. This substantiates the growth of power management ICs market at a healthy 4.6% CAGR for the 2018 – 2026 forecast period.
Power Management Integrated Circuits Market –Key Findings of the Report
Voltage Regulators Product type to continue to witness leading demand
Voltage regulators feature to automatically maintain voltage at a constant level, which is important to prevent operational disruptions in electronic devices. This helps to increase the battery life of handheld electronic devices such as tablets and smartphones. Therefore, in the larger picture, voltage regulator product type power management ICs is gaining with demand from varied end users such as automotive and telecom and networking sectors.
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Players Contemplate Low pricing strategy for Expanded Revenue Share
With prodigious demand from highly lucrative consumer electronics and automotive sectors, albeit for the manufacture of structural components, keen players in the power management ICs market are strategizing to expand their market share. In a bid for this, several players are revising prices of their products to serve the underlying latent demand from these sectors and consolidate growth.
Besides this, strategic business partnerships and M&As is also what keen players in the power management ICs market are engaged in for growth.
Explore 191 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Power Management Integrated Circuit (PMIC) Market (Product - Voltage Regulators, Motor Control IC, Integrated ASSP Power Management IC, Battery Management IC, Microprocessor Supervisory IC; End use - Automotive, Consumer Electronics, Industry, Telecom and Networking) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026 at https://www.transparencymarketresearch.com/power-management-ics-market.html
Design features close to serve Demand for Energy Efficient Devices
Worldwide, government energy departments and environmental agencies are striving to reduce energy consumption at each level of everyday functioning. In a bid for this, remodeling of electronic devices, which witness overwhelming demand today, is an initiative undertaken by electronic manufacturers. This has propelled the demand for power management ICs, particularly low-power power management ICs to optimize energy consumption and heat dissipation from consumer electronics. The power management ICs market gains, in turn.
Analyze Global Power Management ICs Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Power Management Integrated Circuit Market – Growth Drivers
- The suitability of power management ICs for semiconductor devices with configuration and programmable features that are increasingly gaining traction from electronic manufacturers is currently providing vast growth avenues to the power management ICs market.
- The deluge in demand for mobile connected devices and networking devices in emerging economies of Asia Pacific is translating into handsome growth for the power management ICs market.
Power Management Integrated Circuit Market – Key Players
- Maxim Integrated Products
- ON Semiconductor Corporation
- ST Microelectronics N.V.
- Texas Instruments Inc.
- Mitsubishi Electric Corporation
- Analog Devices Inc.
- Toshiba Corporation
- Renesas Electronics Corporation
- Infineon Technologies Inc.
- Semtech Corporation
- Rohm Co. Ltd.
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