Power Management Integrated Circuit Market Size 2018 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects and Forecasts to 2028
The demand for Power Management Integrated Circuits (PMIC) is growing continuously due to the increasing demand for consumer electronic devices, such as smartphones, tablets and smart TVs, in most of the established and growing economies. A radical rise in the consumption and cost of energy in the world has forced consumers to save energy and devise methods to minimize the environmental impacts caused by carbon emissions. Power management integrated circuit (PMIC) market surpassed value worth US$ 20.9 billion in 2018, as per a new FMI study. The market is projected to grow at 6.4% y-o-y in 2019 and key factors responsible for the projected growth of the market include, Rising sales of smart devices across the globe Growing energy harvesting initiatives Introduction of compact and high-efficiency PMICs Ongoing industrial automation and vehicle electrification The FMI study finds that demand for power management integrated circuit (PMIC) in communication equipmen...