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Smartphone Power Management IC Market to Grow by USD 3.25 Billion during 2021-2025|Growing Internet Penetration and Data Traffic to Boost Growth |TechnavioNEW YORK, March 17, 2021 /PRNewswire/ -- The smartphone power management IC market is expected to grow by USD 3.25 billion during 2021-2025, expanding at a CAGR of over 5%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios. Smartphone Power Management IC Market: Growing internet penetration and data traffic to drive growth. Smartphones incorporate various mobile applications that account for a large amount of mobile data traffic. The increasing use of social networking sites is leading to high data traffic. Consumers prefer to stay connected to the Internet for multiple purposes. The increasing use of high-bandwidth applications is resulting in the need for energy-efficient and optimized power management systems. This is compelling smartphone OEMs to integrated high-performance PMICs due to high battery power consumption. The growing investment in 5G networks is expected to increase mobile data traffic during the forecast period. Hence, Technavio expects that the increasing Internet penetration and data traffic will have a positive impact on the growth of the global smartphone PMIC market during the forecast period. Is there any relief during this COVID pandemic? As per Technavio, the integration of advanced technologies in smartphones will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025. Smartphone Power Management IC Market: Integration of advanced technologies in smartphones Smartphone OEMs are integrating AI chips to facilitate HMI technologies. Running high-bandwidth applications increases the load on the processor. As a result, there are chances of a sudden increase in voltage, which can lead to the slowdown of performance or damage the device. PMICs such as battery charger ICs control the safe flow of a charging current to a battery pack. The increasing numbr of brownout activities occurring in devices is a major driver for the global smartphone PMIC market. Highly efficient PMICs are required to protect the microcontroller and bring it to a stable level of operation. Smartphone manufacturers will need to integrate a greater number of PMICs to efficiently manage power consumption. Hence, the integration of advanced technologies in smartphones will accelerate the demand for PMICs during the forecast period. "The increasing demand for smartphones and the commercialization of 5G will further boost market growth during the forecast period", says a senior analyst at Technavio. Smartphone Power Management IC Market: Major Vendors
Smartphone Power Management IC Market: Segmentation Analysis The APAC region led the smartphone power management IC market in 2021, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the rising adoption of smartphones. Technavio's sample reports are free of charge and Gain competitive intelligence about market players. Track key industry trends, opportunities, and threats. Inform your marketing, brand, strategy, and market development. Related Reports on Information Technology Include: Global Quantum Computing Market- The quantum computing market is segmented by end-user (aerospace and defense, government, IT and telecom, transportation, and others), geography (North America, APAC, Europe, South America, and MEA), and key vendors. To get extensive research insights: Download FREE Sample Report Global CMOS Image Sensors Market- The CMOS image sensors market is segmented by application (consumer electronics, automotive, security and surveillance, industrial, and others), geography (APAC, North America, Europe, South America, and MEA), and key vendors. To get extensive research insights: Download FREE Sample Report Some of the key topics covered in the report include: Market Challenges Market Drivers Market Trends Vendor Landscape
About Technavio With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research
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