April 4, 2020
Power Management Integrated Circuit

By 2027 Power Management Integrated Circuit Market is anticipated to hit US$ 51.7 billion

According to a new market research report published by Credence Research, “The Power Management Integrated Circuit Market is expected to reach US$ 51.7 billion by 2027, expanding to a CAGR of 6.5 percent during the 2019-2027 forecast.” Power management ICs are perceiving a sharp demand across various sectors such as medical devices, automobiles, industrial sectors, and consumer e. The rising demand for portable devices with longer shelf-life along with increased awareness of power efficiency is projected to drive the global Power Management Integrated Circuit market. Due to decreasing integrated circuit prices and their widespread application in automobiles, tablets, smartphones and other devices, market size is anticipated to spur during the forecast period. Increasing car and smartphone sales are anticipated to boost market growth.

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In addition, Joint Venture, Merger & Acquisition, Partnership, and Business Expansion are few other major strategies adopted by prominent players to gain competitive lead in the PMIC market. Several companies launch and implement advanced PMICs for use in various applications. For example, in August 2018, Powerchip Technology Corporation planned to invest around US$ 9.03 billion to produce integrated chips in Taiwan. This manufacturing unit will bring the chip facilities to a total of five units in Taiwan, increasing production capacity by 2030 by around 200,000 wafers per month. The aforementioned factor is supposed to drive Power Management Integrated Circuit over the forecast period.

Asia Pacific is responsible for manufacturing and manufacturing trucks, cars, heavy utility vehicles, and hybrid vehicles that will further increase PMIC demand across the region. Increasing use of consumer electronics also increased demand for large-scale production of PMICs, thus holding a higher market share for Asia Pacific in the global Power Management Integrated Circuit market. Furthermore, rapid technology developments in the Asia Pacific region due to emerging countries like India, China, and Japan are projected to see the highest growth compared to other regions.

The study includes Texas Instruments Incorporated, Maxim Integrated Products Inc., ON Semiconductor Corp, Infineon Technologies AG, Mitsubishi Corp, Analog Devices, Inc., STMicroelectronics NV, Dialog Semiconductor PLC, Renesas Electronics Corporation and QUALCOMM, Inc. among others.

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