According to a new market report pertaining to the power management integrated circuit (PMIC) market, published by Transparency Market Research, the global PMIC market is expected to reach US$ 56.48 Bn by 2026, expanding at a CAGR of 4.6% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at a CAGR of 5.5% through 2026.

The global PMIC market is broadly segmented by product type and end use. By product type, the market is classified into voltage regulators, motor control IC, integrated ASSP power management IC, battery management IC, microprocessor supervisory IC and others.

Demand for voltage regulators is increasing in automotive, consumer electronics, industry, telecom & networking and other segments as these ICs help to increase the battery life of handheld devices such as smartphones, tablets, and laptops.

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Therefore, they are expected to consistently dominate the power management IC market during the forecast period. Apart from voltage regulators, integrated ASSP power management IC and battery management ICs are also expected to represent considerable market share to the PMIC market during the forecast period.