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Power Management IC Market 2021 Research Report With COVID-19 Update – Key Players Analysis, Growth Factors and Forecast to 2030 | Says Report Ocean

Report Ocean published a new report on the global Power Management IC market. The study includes an in-depth analysis of regional trends and market growth in North America, Europe, Asia-Pacific, and Middle East Africa. This study report also examines the challenges that are negatively impacting the industry’s growth and outlines a strategy adopted by companies from 2017 to 2030.

The global market is projected to reach the value of USD 38,388.9 Mn by the year 2023, by growing at a CAGR of 8.8% during the forecast period (2018-2023).

Power Management IC Market: By Product [Integrated ASSP power management IC (Battery Management IC, Energy Management ICs, LED Drivers ICs, PoE Controllers, PFC Controllers, Hot-Swap Controllers, Wireless Charging ICs), Motor Control IC and Voltage Regulators], By Application (Consumer and Wearable Electronics, Automotive, Telecom, and Networking) and Region – Forecast Till 2023

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The miniaturization of electronic devices and demand for high-performance and energy-efficient products across consumer devices (smart) are some key factors driving the overall market growth. The industry heavily relies on smartphone technology and other applications related to consumer electronics, automotive technology, etc.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2030. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

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Market analysis

PMIC (Global Power Management IC market) comprises an expansive scope of chips and can be incorporated in battery-worked gadgets, for example, cell phones, and compact media players. The rising miniaturing pattern in the gadgets business is massively affecting the PMIC advertise. PMIC does not just deal with the stream and bearing of electrical power yet, in addition, helps in beating space requirements.

The purchaser hardware segment is a noteworthy end client of PMIC. The requirement for power effectiveness, high thickness, and plan adaptability of intensity modules are a portion of the variables supporting the market development. Simultaneously, the development of silicon-carbide (SiC) and gallium nitride (GaN) is probably going to open new development roads for market players going ahead. Then again, improvement issues in multi-control space SoCs can constrain the reception rate.

Market segmentation

The Global Power Management IC market is segmented on the basis of its application, product, and regional demand. On the basis of its application, the market is segmented into Automotive, Consumer and Wearable Electronics, Telecom and Networking and Industries. Based on its product, the market is bifurcated into Voltage Regulators and Integrated ASSP power management IC (Energy Management ICs, Battery Management IC, LED Drivers ICs, PoE Controllers, Hot Swap Controllers, PFC Controllers Hot Swap Controllers, Wireless Charging ICs) Motor Control IC.

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Regional demand

Geographically, the Global Power Management IC market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Major players

Toshiba Corporation, Renesas Electronics Corporation, Analog Devices, STMicroelectronics, among others are some of the major players in the Global Power Management IC market.

Regional Insights

North America is leading the Moisture Analyzer market through increasing number of collaboration and effective government policies. Semiconductor companies in the United States spend about one-fifth of their total revenue on research and development – among the highest rates in any industry. Throughout difficult economic times and through fluctuations in sales revenue, the industry has consistently prioritized R&D. In order to maintain the partnership, the federal government is funding research at sustainable levels. The industry will continue to drive economic growth and develop technologies that will advance the future.

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Impact Analysis of COVID-19

Semiconductor companies moved quickly to secure supply chains, protect their employees, and address other urgent concerns after the spread of COVID-19. In spite of seriousness of the situation and the fact that many governments continue to impose physical distance requirements, semiconductor companies are now forward when the pandemic subsides and a new normal begins.  As a result of COVID-19, many fundamental aspects of the sector have changed, including customer behavior, business revenue, and various features of corporate operations. Thus, some companies may unable to survive the crisis.

Aim of the Report

This study aims to determine the market size of various segments and countries with forecast values for next ten years. Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry. It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth. The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.

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