Power ICs operating at 48V are common and cheap, because things like telco have been using 48V DC for decades.
In terms of things like digital ICs, well they have never worked at 12V either. You have a step down converter to produce the 3.3 V, 1.8 V etc. rails they need.
In terms of things like digital ICs, well they have never worked at 12V either. You have a step down converter to produce the 3.3 V, 1.8 V etc. rails they need.