LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global power management IC market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Sunil Kumar Singh, a lead analyst from Technavio, specializing in research on semiconductor equipment sector, says, “Power management ICs are increasingly becoming an essential product, driving the global semiconductor market. The growth in this market is driven by high demand for voltage regulators in portable applications such as smartphones. In addition, the need for more power-efficient and higher performance solutions in portable battery-powered devices presents many opportunities for power management ICs.”
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The top three emerging trends driving the global power management IC market according to Technavio hardware and semiconductor research analysts are:
- Emergence of advanced consumer products
- Automation in automobiles
- Development of smart cities
Emergence of advanced consumer products
The consumer electronics market has experienced massive transformations in recent times. It has been swept with lots of user-friendly electronics such as smartphones (that replaced feature phones), laptops (that are attracting PC customers), LEDs and smart TVs (which are replacing CRT TVs), coffee makers, and washing machines, which are all becoming fully automated. Manufacturers and application developers are attempting to take this transformation further by interconnecting all household devices and creating a single unit called a smart home, which can be controlled by applications installed on smartphones.
This concept is powered by a cutting-edge, emerging technology called the IoT. Manufacturers are introducing up-to-date applications with rich content that can be accessible by virtue of high-speed internet. With such developments in technology and high consumer demand for better electronics, manufacturers are constantly focusing on bringing better consumer products with improved functionalities. Smart wearables are the result of R&D focused on consumer needs. Today, wearable tech, which includes smartwatches, fitness trackers, and smart fabrics, is rapidly becoming a trend. Power management ICs ensure efficient power management for effective performance of consumer gadgets without wasting energy.
Automation in automobiles
Automobiles are undergoing a massive digital makeover as an increasing number of automakers are adopting automation as a serious trend. Leading automakers such as Toyota, Audi, and Mercedes have invested considerable resources in the R&D of vehicle automation. The next-generation automobiles are expected to include speech recognition, video and image compatibilities, and IC-integrated LED front lighting.
Semiconductor content has a crucial role in vehicle automation, especially in networked communication and driving automation. It constantly provides accurate information for the inbuilt artificial intelligence for an optimal drive experience. In this scenario, the role of power management ICs is to supply optimal power to all the essential electronic components of the vehicle.
Development of smart cities
Public organizations around the globe are investing huge amounts to develop smart or connected cities. Smart cities are dependent on public Wi-Fi networks to offer services such as access to education and healthcare, infrastructure management, safety and security, traffic management, and waste and water management to consumers. The networks help citizens access the internet on their smartphones and tablets. They offer location-based services that city planners use to understand the functioning of a smart city and offer better services to its citizens.
“Power management ICs are required in all the electronic equipment used in the development of smart cities, driving the market during the forecast period,” says Sunil. For instance, the Chinese government has been focusing on the urbanization and development of smart cities in its five-year plans. In 2008, China announced an investment of USD 785 billion in the establishment of smart cities and established 180 smart cities by 2012. In the same year, it collaborated with the European Union to establish an EU-China Policy Dialogues Support Facility (PDSF) to set up smart cities in China and EU countries during 2012–2016.
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