5G network enhances the performance of smartphones by providing ultra-fast Internet connectivity with low latency and allowing faster data streaming. However, this enhanced performance results in high power consumption and thereby battery drainage. Advanced PMICs are being used in 5G phones to get optimal battery performance. Several governments are taking up initiatives to actuate 5G networks in their countries. This emergence of 5G networks along with improvement in telecommunication standards will boost the demand for PMICs during the forecast period. Technavio’s analysts have predicted that the smartphone power management IC market will register a CAGR of over 3% by 2022.
Increase in adoption of PMICs in premium range smartphones Premium range smartphones with unique features such as eight core chips in processors, HD displays, and 20-megapixel cameras consume more power and puts strain on the battery life. These smartphones are expected to be integrated with more innovative features such as AI, dual lens cameras, and HMI technologies. This will further increase the power consumption of the premium range smartphones. More than one PMICs are being integrated in the premium range smartphones such as Apple iPhone X and Samsung Galaxy S9 to improve their battery life. Thus, the growing demand for premium range smartphones with advanced features will drive the demand for smartphone PMICs and hence boost market growth.
Growing complexity of PMIC design End-users are increasingly demanding electronics products with more functionalities. This have resulted in increased complexity in the design of PMICs. The need for better and highly efficient PMICs have increased due to constant upgrades to different technologies. To prevent MCUs from entering an unstable state, PMICs must be designed to support high voltages. These factors have increased the complexity of PMIC design which is negatively impacting the growth of the smartphone power management IC market.
For the detailed list of factors that will drive and challenge the growth of the smartphone power management IC market during 2018-2022, view our report.
The market appears to be fairly concentrated and with the presence of companies such as Maxim Integrated, and NXP Semiconductors the competitive environment is intense. Factors such as the growing adoption of PMICs in premium range smartphones, will provide considerable growth opportunities to smartphone power management IC companies. Maxim Integrated, NXP Semiconductors, QUALCOMM, STMicroelectronics, and Texas Instruments are some of the major companies covered in this report. – PR Newswire