Power Management Integrated Circuits Market -Size, Trends, Growth Opportunities, Analysis and Forecast To 2026
New York, 23, Dec 2019:The Power Management IC (PMIC) Market is anticipated to reach USD 58.4 billion by 2026, according to a new research published by Polaris Market Research. In 2017, the consumer electronics end-user segment dominated the global power management integrated circuits market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
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Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global power management integrated circuits market throughout the forecast period. The increasing awareness among consumers, and rising environmental concerns drive the market growth in the region. The increasing penetration of electric vehicles, and growing applications in the automotive sector supports the market growth in this segment. The increasing use of Power Management Integrated Circuits in building and home automation, and consumer electronics further supports power management integrated circuits market market growth. The rapid penetration of IoT devices, rising adoption of data centers, advancements in next generation mobile networks such as 3G, 4G, and 5G further fuels the growth of the market.
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The companies operating in the power management integrated circuits market include Infineon Technologies AG, Dialog Semiconductor PLC, Linear Technology Corporation, STMicroelectronics N.V., Texas Instruments Inc., Maxim Integrated Products, Inc., NXP Semiconductors, Renesas Electronics Corp., ON Semiconductor Corp., and Fairchild Semiconductor International, Inc.. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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