Providers of power management integrated circuit (PMIC) solutions have been tapping into the wide cross-section of demands for ICs in space-constrained applications. Revenue streams in the power management ICs market stem from the need for high-power density and a configurable power management design in computationally intensive platforms, notes Transparency Market Research. Key players have been seeing new opportunities from the constant flux of wearable, sensors, and internet of things devices in several industry verticals. They are quick to unveil solutions that increase programmability, maximize performance per watt, and reduce power dissipation.
Some of the companies who have been at the forefront of the revenues in the PMIC market are Maxim Integrated Products, Texas Instruments, Inc., ON Semiconductor Corporation, Mitsubishi Electric Corporation, STMicroelectronics N.V., and Analog.
The global PMIC market is projected to climb to US$ 56.48 bn by the end 2026, clocking a CAGR of 4.6% from 2018 to 2026.
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Rapid Uptake of Portable Consumer Electronics Fuel Application
Automotive manufacturers and industrial sectors adopting voltage converters and regulators are key factors propelling the expansion of the global PMIC market. World over, there has been substantial uptake of PMICs extending battery life and reducing power dissipation in several of the compact devices hitting the consumer markets. Over the years, various emerging consumer markets have seen a surge of such devices. A large drive for the business proposition for PMICs stems from the proliferating sales of such consumer electronics, most notably smartphones.
Semiconductor devices with configuration and programmable features are gathering traction among electronics manufacturers in various parts of the world. A case in point is the growth in popularity of field-programmable gate array and systems-on-chip semiconductor ICs.