Power Management IC (PMIC) Market will reach 61.33 billion by 2024 Power Management (1) | Page 5

Consumer Electronics End-User Exploration Will Witness
The Fastest CAGR Of 6.7% During The Forecast Period
Consumer Electronics end-user in PMIC market holds the revenue of
10.49 billion in 2016. Power management ICs are penetrating the
consumer electronics industry with advancements of new technologies.
PMICs are generally used in devices such as portable music players and
mobile phones. PMICs are used to manage power usage efficiently in
such devices. The major factor contributing to the growth of PMICs in
consumer electronics is global sales of smartphones, tablets, laptops
and PCs. PMICs allow the usage of portable devices for a longer period
due to efficient use of power. Other areas where PMICs are used
comprises household appliances such as refrigerators, washing
machines, televisions, digital cameras and camcorders.