Power Management Integrated Circuit (PMIC) Market to hit US$ 56.48 Bn by 2026
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High adoption of power management integrated circuits in various industries in the APEJ region bodes well for the global market
Power management integrated circuits are increasingly used in various industry verticals such as electronics, factory automation and control, grid infrastructure, medical, healthcare and fitness, space, avionics and defence. Various kinds of industries use low power, highly integrated microprocessor platforms that require both multiple voltage rails and battery management. Power management integrated circuits (PMICs) provide highly integrated, high-performance solutions for wide ranging automotive, consumer and industrial applications. In addition, in order to implement technology in manufacturing and production, industries in the APEJ region are moving towards automation. Increasing levels of automation and demand from various industry verticals is projected to positively affect the growth of the power management integrated circuit market across the APEJ region.
Global Power Management Integrated Circuit Market Analysis (2012-2016) and Opportunity Assessment (2017-2027), By Application
As per the projections given by Future Market Insights, the automotive segment in the application category was estimated to be valued at nearly US$ 4,350 Mn in 2017 and is likely to touch a valuation of nearly US$ 8,150 Mn in 2027, accounting for a CAGR of 6.5% during the period of assessment 2017-2027. The communication equipment segment in the application category was estimated to be valued at nearly US$ 3,550 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 9,000 Mn in 2027, exhibiting a CAGR of 9.8% during the period of forecast. The enterprise systems segment in the application category was estimated to be valued at nearly US$ 2,650 Mn in 2017 and is likely to reach a valuation of nearly US$ 4,500 Mn in 2027, displaying a CAGR of 5.5% during the period of assessment.
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