DUBLIN--(BUSINESS WIRE)--The "Power Management IC Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The power management IC market was valued at US$28.515 billion in 2017 and is projected to expand at a CAGR of 6.84% over the forecast period to reach US$42.422 billion by 2023.
Growing demand for battery-powered devices such as smartphones, wearable devices, tablets, and digital cameras among others is driving the global power management IC market. Furthermore, increasing demand for energy harvesting technologies coupled with technological advancements is also fueling the demand for these ICs over the forecast period. Growing building control, industrial and retail sectors will propel the power management IC market growth in the forthcoming years.
The wearable electronics sector is expected to experience the highest growth rate owing to growing awareness regarding good health and fitness across the globe, especially in developing countries. Booming global automotive industry is also contributing to the demand for these ICs during the forecast period.
Geographically, Asia Pacific is anticipated to witness rapid regional market growth. Rising disposable incomes and improving living standard along with growing aging population and health awareness are some of the factors augmenting the demand for consumer electronics such as smartphones, tablets, and wearable devices. This, in turn, is driving the demand for power management ICs by consumer electronics industry in Asian emerging economies such as Japan, China, and India.
Rising demand for automotive, especially the passenger vehicles coupled with booming industrial and retail sectors will further fuel the demand for these ICs in the APAC region. However, complex integration process for multi-power domain SOCs due to a requirement of robust methodology and toolsets for implementation will restrain the market growth during the forecast period.
Major industry players profiled as part of the report are Texas Instruments, NXP Semiconductor, Dialog Semiconductor, and Renesas Electronic Corporation among others.
The power management IC market has been analyzed through following segments:
- Linear Regulator
- Switching Regulator
- Voltage Regulator
- Power Management ASSP
By Industry Vertical
- Consumer Electronics
- Communication and Technology
- Military and Defense
- Texas Instruments
- Analog Devices, Inc.
- Maxim Integrated
- Renesas Electronic Corporation
- ON Semiconductor
- Dialog Semiconductor
- NXP Semiconductor
For more information about this report visit https://www.researchandmarkets.com/research/p3tcjj/global_42_42_bn?w=4