Power Management Integrated Circuits Market predicted to be valued at US$56.48 Bn by 2026

 With the ever-increasing demand for compact electronics such as wearables and hearing devices, the need for high-efficiency and compact form factor integrated circuits for space-constrained applications is at an all-time high. Power management integrated circuits (ICs) exactly do this. Power management integrated circuits feature to control the flow and direction of electrical power, along with different power conversion capabilities, which makes them exceptionally suitable for battery-operated devices such as portable media players and mobile phones. In addition, power management ICs help utilize power efficiently and extend the life of compact electronic devices. Thus, with the monumental rise in demand for handheld electronic devices, power management ICs is witnessing an uptick in demand.

Power management ICs find substantial applications in the automobiles for a host of portable devices such as navigation devices. Besides core functions, power management ICs, power management ICs help to integrate portable electronics with car stereo system using a USB cable or plug-in cradle. This facilitates to enhance features of automobile information and entertainment systems by means of integrating applications such as touch screen support and power audio interfaces via power management ICs.

Therefore, with core applications in the highly lucrative consumer electronics and its ancillary industries, the demand for power management ICs is predicted to continue to rise in the years ahead. This substantiates the growth of power management ICs market at a healthy 4.6% CAGR for the 2018 – 2026 forecast period.

Raed More @ https://www.prnewswire.com/news-releases/power-management-integrated-circuits-market-predicted-to-be-valued-at-us56-48-bn-by-2026–applications-in-highly-lucrative-automotive-consumer-electronics-sectors-evident-of-monumental-growth–tmr-301262055.html

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