Power Management Integrated Circuit (IC) Market is estimated to be US$ 30.63 billion by 2030 with a CAGR of 4.8% during the forecast period
The report "Power Management Integrated Circuit (IC) Market, By Product (Voltage Regulators, Motor Control ICs, and Battery Management ICs), By End-User (Automotive, Consumer Electronics, Industrial, Communication, and Other End Users), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030.
Power management integrated circuit market is primarily driven by various technological developments in the products and increasing demand for battery operated devices globally. Increasing awareness about fire protection systems and the benefits of better technology for fire prevention are driving the growth of the market. Consumers are looking for the latest technological products, and the market is witnessing growing investment. The power management integrated circuit market is expected to grow at a significant pace during the forecast period, due to emerging trends, such as vehicle automation. Automakers require dedicated semiconductor content to provide accurate information to the inbuilt artificial intelligence for an optimal drive. Increased use of next-generation mobile networks, such as 4G and 5G, is expected to fuel target market growth.
Key Market Insights from the report:
The global power management integrated circuit (IC) market accounted for US$ 30.63 billion by 2030 and is projected to register a moderate CAGR of 4.8% over the forecast period. The market report has been segmented on the basis of product end-user, and region.
By product, voltage regulators are expected to consistently maintain their dominance throughout the forecast period.
By end- user, communication end user is expected to hold major revenue share.
By region, Asia-Pacific was leading PMIC market with the highest CAGR, whereas North America is expected to be fastest growing regional market in the PMIC market. Also Europe is expected to be growing in terms of market share.
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Competitive Landscape:
The prominent player operating in the global power management integrated circuit (IC) market includes Texas Instruments Inc., ON Semiconductor Corp, Analog Devices Inc., Dialog Semiconductor PLC, Maxim Integrated Products Inc., Linear Technology Corporation, STMicroelectronics N.V., NXP Semiconductors N.V., Mitsubishi Group, Renesas Electronic Corp.
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