Growth of Power Management Integrated Circuits Market Projected to Amplify During 2027
Allied Market Research, titled, “ Power Management Integrated Circuits Market by Product Type and End Use: Opportunity Analysis and Industry Forecast, 2020–2027 ” the global power management integrated circuits market size was valued at $33.96 billion in 2019, and is projected to reach at $51.04 billion by 2027, growing at a CAGR of 5.3% from 2019 to 2027. Asia-Pacific is expected to be the leading contributor to the global power management integrated circuits market, followed by North America and Europe. Power management ICs are highly integrated power management solutions used for a wide range of battery-operated electronic devices. PMICs are extensively used to fulfill power requirements in various applications such as consumer electronics, automobile, telecom & networking, and in the industrial sector. The global PMICs market is estimated to witness significant growth during the forecast period. The growth is primarily due to rise in production of automobile ...