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Thermal management in integrated circuits primarily aims to ensure optimal performance and reliability, which is critical to the longevity and functionality of the device. As circuits operate, they generate heat, and if this heat is not adequately dissipated, it can lead to thermal saturation. This phenomenon can degrade the performance of ICs by increasing resistance, causing timing errors, and potentially leading to thermal runaway, where increased temperature causes further performance issues. Additionally, excessive heat can lead to physical damage or reduced lifespan of circuit components. Therefore, effective thermal management strategies, such as the use of heat sinks, thermal interfaces, and careful layout design, are essential to maintaining an IC's operational efficiency and reliability over time.

The other options address related but distinct issues in IC design and operation. For instance, while increasing circuit complexity is a design challenge, it is not a direct concern of thermal management. Preventing voltage spikes is more related to power management and signal integrity than to thermal considerations. Minimizing chip size, although important for manufacturing and cost efficiency, does not directly relate to the thermal aspects of circuit functionality and reliability.