Northbrook, IL -- (SBWIRE) -- 11/12/2018 -- According to the new market research report "Power Management IC (PMIC) Market by Product (Linear Regulator, Switching Regulator, Voltage References, Battery Management IC, Energy Management IC, LED Driver IC, POE Controller, Wireless Charging IC), Application, and Geography - Global Forecast to 2022", the power management IC (PMIC) market is estimated to reach USD 34.86 Billion by 2022, growing at a CAGR of 8.08% between 2016 and 2022. The increasing applications of PMICs in various sectors such as consumer electronics, wearable electronics, automotive, healthcare, industrial & retail, and building control are driving the growth of the PMIC market.

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Consumer electronics expected to have the largest market share during the forecast period

The PMIC market is segmented on the basis of application into consumer electronics, wearable electronics, automotive, healthcare, industrial & retail, and building control. The market for PMIC was dominated by the consumer electronics sector due to the increasing use of PMIC components in an extensive range of consumer electronics devices such as tablets, smartphones, laptops, wireless audio devices, digital cameras, and portabel navigation systems among others.

Power management ASICs/ASSPs/others to dominate the PMIC market during the forecast period

Power management products such as battery charging & management ICs, energy management ICs, LED driver ICs, Power-over-Ethernet (PoE) controllers, power factor correction (PFC) controllers, hot swap controllers, and wireless charging ICs are expected to account for the largest share of the PMIC market during the forecast period. The market for power management ASICs/ASSPS/others is also expected to grow at the highest CAGR during the period due to the increasing use of these products in smartphones, tablets, laptops, and other portable devices. The increasing demand for battery charging & management ICs in portable devices and LED driver ICs in lighting applications is also driving the growth of this market.

Market in APAC expected to have the largest share and grow at the fastest rate

The PMIC market in APAC is expected to have the largest share of the global power management IC (PMIC) market during the forecast period. This is because of the increasing adoption of the PMICs across multiple application areas, majorly automotive and consumer electronics, in this region. APAC also offers potential growth opportunities for the PMIC market since there is an increase in the demand for smartphones, tablets, laptops, smartwatches, and activity & fitness monitors among others. Thus, various application sectors, such as consumer electronics, leverage the features of PMICs to provide high performance power management solutions.

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The report covers detailed information regarding the major factors influencing the growth of the PMIC market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has also been done to provide insights into their business overview, product and service offerings, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the PMIC market.

Some of the key players operating in the PMIC market are Texas Instruments Inc. (U.S.), ON Semiconductor Corp. (U.S.), Analog Devices, Inc. (U.S.), Fairchild Semiconductor Corp. (U.S.), Dialog Semiconductor PLC (U.K.), Maxim Integrated Products, Inc. (U.S.), STMicroelectronics N.V. (Switzerland), NXP Semiconductors Netherlands B.V. (Netherlands), Linear Technology Corporation (U.S.), and Renesas Electronics Corporation (Japan).

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