At what CAGR is the power management IC market projected to grow in the forecast period (2019 -2025)?

Power management IC (PMIC) is an integrated circuit that helps to manage the power requirements of the host system. PMICs are used to build an efficient power system in battery-enabled portable devices namely laptops, tablets, and smartphones. These integrated circuits manage the flow of power from various power sources such as USB, batteries, and wall adapters while maintaining the current limit. PMICs can be used in everything from consumer electronics such as smartphones, Bluetooth headsets, and MP3 players to portable industrial and medical equipment.

The global power management ICs market is estimated to account for US$ 5,142.17 Mn in terms of value by the end of 2027, exhibiting a CAGR of 5.3% during the forecast period (2020-2027).

Market Dynamics- Drivers

Increasing sales of portable devices are expected to drive growth of the global power management ICs market during the forecast period
The demand for PMICs is increasing due to increase adoption of portable devices. PMICs are largely used in smartphones, notebooks, and LEDs. The demand for PMICs increases with the increase in sales of these products. PMICs are primarily used in smartphones to increase battery life and for efficient and faster charging. Moreover, PMIC provides power solutions for media players, handheld medical & industrial devices, and navigation devices. PMICs are developed for polymer/Li-ion battery-based applications. It has become necessary to integrate PMICs to deliver the right functionality and performance, owing to growing demand for smartphones. Furthermore, increasing demand for consumer electronics such as tablets, music players, smartphones, and television is expected to drive growth of the global power management ICs market during the forecast period.

Request A Sample Copy:https://www.coherentmarketinsights.com/insight/request-sample/4364

Rising demand for energy efficiency is expected to propel the global power management ICs market growth over the forecast period
Currently, there is high demand for energy-efficient products in the market. There are several government policies to save and reduce energy consumption, energy costs, and energy emissions. Hence, several PMICs are incorporated in devices that monitor the consumption of power and energy. Portable products that operate on batteries include these ICs for efficient usage of power. Therefore, these factors are expected to propel the global power management ICs market growth over the forecast period.

Statistics:

Asia Pacific region held dominant position in the global positive displacement pumps market in 2019, accounting for 33% share in terms of value, followed by North America, Europe, Middle East & Africa (MEA), and Latin America respectively.

Trusted clients:https://www.coherentmarketinsights.com/trusted-by

Mr.Shah

Coherent Market Insights

1001 4th Ave,

#3200

Seattle, WA 98154

Tel: +1-206-701-6702

Email:sales@coherentmarketinsights.com

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.