The flow and direction of electric power are controlled by power management ICs. PMICs are used in a variety of industries, including automotive and transportation, consumer electronics, and telecommunications and networking. Air conditioners, mobile phones, refrigerators, personal computers, laptops, television sets, notebooks, and washing machines are amongst the consumer electronics items with high demand, which is expected to boost demand for monolithic PMICs, high power PMICs, and integrated PMICs. These factors are likely to fuel growth of the global power management integrated circuit (PMIC) market in the years to come.
The rising demand for Power Management IC is predicted to be fueled by the automotive and transportation industries in the years to come. High-efficiency power management ICs are required for navigation systems, ADAS (advanced driver assistance systems), telematics, automotive clusters, car entertainment, and battery management. Electric car sales are being boosted internationally thanks to government incentives, tax exemptions, and subsidies. The demand for electric cars and their power management ICs is accelerating as a result of government support and tough pollution standards. Connected devices are expected to grow dramatically in the next years, thanks to significant advancements in Internet of Things (IoT) technology.
Increasing use in Smartphones and Fitness Gadgets to Drive Growth of the Market
Due to the rising need for power management in fitness & activity trackers and smartphones, the wearable electronics application segment in global power management integrated circuit (PMIC) market is predicted to develop at a rapid pace in the years to come.
The global market is expected to develop due to rising consumer interest in electronics and rising need for energy-efficient goods. For polymer/Li-particle battery-based applications, PMICs are widely made. Compact devices such as mobile phones, tablets, scratch pads, media players, and portable clinical gadgets are all using these ICs.
Clients may easily integrate small devices into a car sound system using PMICs and module support or a USB link. These framework enhancements are bolstered by adding capabilities to applications such as power sound interfaces, touch screen support, and coin cell reinforcement supply swapping applications in cars. As a result, small electronic products are being evaluated to see if they can expand reliably in autos. Due to the obvious needed in such devices, the global power management integrated circuit (PMIC) market is poised for a high growth in the years to come.