Power Management Integrated Circuit (PMIC) is a joint circuit, which helps to regulate the power requirements across the host systems. This type of IC type able to manage the power from numerous other power sources including batteries, USB, and wall adapters. Additionally, their cost is lowering due to advancements in technology.
Power management ICs incorporated in the PMIC tends to be efficient and smarter owing to regulating the flow of power across the device. Thus, the demand for these devices is increasing swiftly from the applications such as consumer electronics, telecommunication, automotive industries, and networking.
Thanks to these factors, the global power management integrated circuit (PMIC) market is projected to swell with a CAGR of 4.6% in coming years and collect revenue of US$56.48 bn by 2026-end.
Amongst available product types, the voltage regulators segment dominated the global power management integrated circuit (PMIC) market and is expected to remain dominant over the forecast period. The voltage regulators have wide-ranging applications across the electronic circuitry. This type of the IC are designed and used across automatic maintenance of voltage mainly at constant level and thus it is able to conduct smooth operation of digital electronic devices. Further, the demand for voltage regulators is increasing substantially due to effectiveness of battery included in the handheld devices.
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The manufacturers of the devices such as tablets, smartphones, and laptops are increasingly demanding these ICs. Additionally, widening applications across the other industries such as automotive, consumer electronics, and telecom & networking is expected to come across as a most lucrative factor for growth of the global power management integrated circuit (PMIC) market.
The numerous players are getting attracted by the booming market and are underlying demand. Thus they are trying to tap opportunities in the IC market by adopting the low pricing strategy. Moreover, companies are entering in to mergers and acquisitions for business expansion and increasing consumer base. In 2015, Infineon Technologies AG has acquired International Rectifier Corporation for business expansion. Some of the other key players in the power management integrated circuit (PMIC) market includes STMicroelectronics N.V., Analog Devices, Inc., Mitsubishi Electric Corp, Texas Instruments, Inc., and Renesas Electronics Corporation.