The report of global power management IC market by Product (Voltage regulators, Motor control ICs, Integrated ASSP Power Management ICs, Battery Management ICs, Others) End User (Automotive / Transportation, Consumer Electronics, Wearable Electronics, Industrial, Telecom and Networking, Others) Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 9.5% during a forecast period.
Power management integrated circuits are small electronics circuits that are used for power management of various functions. PMIC is also referred to as a system on a chip module or device. PMICs are integrated with various functions such as battery charging, battery management, and voltage regulation. PMICs can have up to 95% of power conversion efficiency.
Battery management IC is witnessing the fastest growth at CAGR of XX%.
Battery management IC product type is projected to witness fast growth at CAGR of XX% during the forecast period. Increasing adoption of battery management PMICs in battery-powered devices is propelling the growth of the market. Battery operated devices are used in all industrial applications such as in electronics, automotive, healthcare, and others which ultimately results in the demand of more PMIC components in the market.
Asia Pacific is witnessing the fastest growth at CAGR of 7.3%.
Asia Pacific held the largest market share in 2019 in terms of revenue and is expected to witness fast growth at CAGR of 7.3% during the forecast period. China, India, Japan, and South Korea are dominating the market in the region. The growth is attributed to the presence of various semiconductor IC manufacturing companies across the region. Increasing government investments to boost electronic and semiconductor manufacturing sector in countries like China and India is driving the growth of the market in the region.
North America followed by Europe is expected to witness fast growth during the forecast period. The US, Canada, the UK, Germany, and France are dominating the market in the respective regions. The growth is attributed to the increasing demand for power management devices in the automotive industry across the region.
Maximize Market Research, India market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Power Management IC Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers the forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Power Management IC Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Global Power Management IC Market positioning of competitors.
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