LONDON--(BUSINESS WIRE)--Technavio’s global smartphone power management IC (PMIC) market research report forecasts the market to grow at a CAGR of over 3% during the forecast period. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
The improvement in telecommunication standards will be one of the major trends in the global smartphone power management IC market during 2018-2022. The growth of the global PMIC market is expected to be driven by the emergence of 5G communication. A 5G network enables faster streaming of data and offers ultra-fast Internet connectivity with low latency, which helps in enhancing the performance of smartphones. This enhanced performance of smartphones will lead to increased battery consumption and such smartphones will need an advanced PMIC for optimal performance.
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According to Technavio analysts, one of the key drivers for the global smartphone power management IC market is the increase in adoption of PMICs in premium range smartphones:
Global smartphone power management IC market: Increase in adoption of PMICs in premium range smartphones
The premium range smartphones that possess unique features such as more than 20-megapixel cameras, eight core chips in a processor, and HD displays are increasingly adopting PMICs. The manufacturers are concentrating on including innovative features such as HMI technologies in these smartphones. These innovative features consume more power than standard features.
According to a senior research analyst at Technavio, “The increase in video-consumption and navigation-based applications is increasing the strain on the battery life of smartphones. Improved battery life can be achieved using more than one PMIC in LTE smartphones that require more power. Hence, the increasing demand for premium range smartphones with advanced features is contributing to the growth of the smartphone power management IC market.”
Global smartphone power management IC market: Segmentation analysis
This global smartphone power management IC market analysis report provides market segmentation by price range (medium range smartphone, low range smartphone, and premium range smartphone) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major segments based on price range, the medium range smartphone segment held the largest smartphone power management IC market share in 2017, contributing to over 36% of the market. This segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, accounting for close to 47% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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