The global power management IC market reached a value of US$ 28.5 Billion in 2020. Looking forward, the publisher expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor. The "Power Management IC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to Research & Markets' offering.
A power management integrated circuit (PMIC) refers to an array of combined microchips that are used to manage the flow of energy between transistors and capacitors in electronic devices. It is commonly utilized in battery-operated electronics, including smartphones, portable media players, wearable devices, and healthcare equipment. It performs various operating functions, such as power and battery management, system control, voltage regulation, audio and interface functions, and other application-specific tasks. Owing to this, PMIC finds extensive applications across electronics, automotive, computing devices, communication, and healthcare industries.
The growing demand for battery-powered consumer devices across the globe is one of the key factors driving the growth of the market. Furthermore, the growth of the telecommunication sector and various technological advancements in wireless technology and peripheral devices are other major growth-inducing factors. The market is also being driven by the growing environmental consciousness leading to the construction of cities with smart grid systems as their integral part. This is leading to an increasing demand for PMIC systems to manage wired and non-wired connections.
Additionally, rising automation in the automotive industry is contributing significantly to market growth. Automobile manufacturers utilize PMIC systems to efficiently manage extreme battery voltage fluctuations, extend the battery life and operate security systems. Other factors, including the widespread adoption of energy harvesting systems and the integration of Big Data and the Internet of Things (IoT) across various industry verticals, are projected to drive the market in the upcoming years.
The report has also analyzed the competitive landscape of the market with some of the key players being Analog Devices Inc, Dialog Semiconductor Plc, Linear Technology Corporation, Maxim Integrated Products Inc, NXP Semiconductors, On Semiconductor Corporation, Renesas Electronics Corporation, STMicroelectronics N V, Texas Instruments Inc, etc.
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