According to the recent study the power management IC market is projected to reach an estimated $31 billion by 2028 from $22.5 billion in 2023, at a CAGR of 6.6% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for battery powered devices, such as smartphones, wearables devices, digital cameras, and navigation systems, and rising trend for IoT technology and energy-efficient devices.
A more than 150-page report is developed to Understand trends, opportunities and forecast in power management IC market by product (linear regulators, switching regulators, voltage references, and power management ASICs/ASSPs), application (consumer electronics, wearable electronics, automotive, healthcare, industrial & retail, and building control), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
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“Power management ASICs/ ASSPs market is expected to remain the largest segment during the forecast period.”
Based on product, the power management IC market is segmented into linear regulators, switching regulators, voltage references, and power management ASICs/ASSPs. Lucintel forecasts that the power management ASICs/ ASSPs market is expected to remain the largest segment due to increasing demand for consumer electronics along with growing demand for battery charging and management ICs in portable devices.
“Within the power management IC market, the consumer electronics segment is expected to remain the largest application”
Based on application the consumer electronics segment is expected to witness the highest growth over the forecast period due to increasing penetration of PMICs in customer electronics devices along with emerging trend of miniaturization of electronics.
“Asia pacific will dominate the power management IC market in near future”
APAC is expected to witness the highest growth during the forecast period due to increase in vehicle production by OEMs and growing demand for consumer electronics in countries like China, India, and Japan.
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Major players of power management IC market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Texas Instruments, ON Semiconductor, Analog Devices, Dialog Semiconductor PLC, STMicroelectronics, NXP Semiconductors Netherlands B.V., Linear Technology Corporation, and Renesas Electronics Corporation are among the major power management IC providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/power-management-ic-market.aspx or [email protected]