The global Power Management IC (PMIC) Market was valued at $40.21 billion in 2016 and is projected to reach $61.33 billion by 2023, growing at a CAGR of 6.4% from 2017 to 2023. In 2016, the voltage regulators segment generated the highest revenue share in the global PMIC market.

Power Management Integrated Circuits (PMICs or PMU), as the name suggests, are integrated circuits that monitor and fulfill the power requirements of a host system. Power management ICs are chips that are mainly capable of electric power controlling or/and power conversion, along with other functions such as battery charging, power-source selection, voltage scaling, and power sequencing. Such integrated circuits are widely used in portable media players and mobile phones, as they provide highly integrated low-power microprocessor platform. Power management ICs are witnessing a surging demand across numerous sectors such as automobiles, medical instruments, consumer electronics, and industrial sector. The global power management IC market is highly versatile and projects stiff competition among the numerous market players. The market players are focusing on innovations, product price, support services, and quality & performance of their product, in order to outpass their competitors.

Request Sample Copy of the Report@  https://www.esticastresearch.com/market-reports/power-management-ic-market/request-sample

Market Determinants

The increasing number of initiatives being taken up by the government authorities is majorly driving the growth of global smart sensor market. Government of several nations is investing heavily in the concept of smart technologies, which is fuelling the market growth. In addition, the smart sensor technology has proved to be an effective solution in reducing the carbon emission levels and thus overcoming the environmental challenges. This has increased the scope of these sensors in the industrial sector, where power plant industries are adopting this technology at an alarming rate. Moreover, the surging trend of miniaturization adopted by various manufacturers is also contributing in the growth of smart sensors market. Such sensors are also witnessing a high acceptance rate in the connected technologies as well. This is expected to offer various opportunities during the forecast period. However, privacy concerns, complex structure of sensors, and high cost of deployment are anticipated to hamper the market growth.

SMART SENSOR MARKET DETERMINANTS-IMPACT ANALYSIS, 2017 Vs. 2024

 

Market Segmentation

The segmentation of global smart sensor market is done on the basis of product, end user, and geography. By Product, the market is segmented as image sensors, touch sensor, smart motion, smart temperature and smart position sensors. By End User, the categorization is done as Industrial, Medical Equipment, Automotive industry, Consumer electronics, Infrastructure and others. Geographically the market is segmented into North America, Europe, Asia Pacific and Rest of World. The automotive industry is expected to dominate the market throughout the forecast period because of increasing road safety awareness among people and growing trend of autonomous vehicles. Smart sensor technology is used vastly in automobiles for adaptive cruise control, park assistance, and blind spot detection and collision avoidance. According to a study, approximately 1.3 million people die in road crashes each year, on an average 3,287 deaths per day. Hence, manufacturers are focusing on the incorporation of ADAS system in passenger vehicles. The global ADAS system market was valued at around $30 billion in 2016 and is expected to be doubled by 2020, hence giving a boost to the growth of smart sensor market.

GLOBAL SMART SENSOR MARKET BY END USER, 2016 – 2024

 

 

The largest share of the global smart/intelligent sensors market is collectively held by key players such as Custom Sensors & Technologies, Inc., ABB Ltd., Delphi Automotive LLP, Analog Devices, Inc., Eaton Corp., and Honeywell International, Inc. Some other market players include Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics, Siemens AG, STMicroelectronics N.V and Yokogawa Electric Corp. The key growth strategy adopted by the market players is partnership and agreements, in order to maintain their foothold in such a competitive market.

Global Smart Sensor Market Segmentation
By Product
• Image sensors
• Touch sensors
• Smart motion
• Smart temperature
• Smart pressure
• Smart positions

By End User
• Industrial
• Medical Equipment
• Automotive industry
• Consumer electronics
• Infrastructure
• Others

By Geography
• North America
• Europe
• Asia Pacific
• Rest of World

Key Market Players
• ABB Ltd.
• Analog Devices
• Eaton Corp
• Emerson Process Management
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Renesas Electronics
• Siemens AG
• STMicroelectronics N.V
• Yokogawa Electric Corp

Request for Customized Report @ https://www.esticastresearch.com/market-reports/power-management-ic-market/request-customise-form

About Esticast Research & Consulting :

Esticast Research & Consulting is a research firm providing research reports on various industries with a unique combination of authenticity, extensive research, and infallibility. We provide syndicated market research reports, customization services, and consulting services to help businesses across the world in achieving their goals and overcoming complex challenges. We specialize in providing 360 degree view of the markets to assist clients in determining new opportunities and develop business strategies for the future with data and statistics on changing market dynamics.

Esticast Research & Consulting has expert analysts and consultants with an ability to work in collaboration with clients to meet their business needs and give opportunities to thrive in a competitive world. A comprehensive analysis of industries ranging from healthcare to consumer goods and ICT to BFSI is provided by covering hundreds of industry segments. The research reports offering market forecasts, market entry strategies, and customer intelligence will help clients across the world in harnessing maximum value on their investment and realize their optimum potential. 

Contact

Esticast Research & Consulting

Address:Sr. No.8/2A/1, Vitthal Heights, Above Yashwant, Kharadi, Pune-411014

Tel: +91-20-65606016

Email: help@esticastresearch.com

Website:www.esticastresearch.com/