Power Management ICs are integrated circuits that regulate electric current and voltage in a circuit. They are widely used in automobiles, portable electronics, and battery-powered equipment to efficiently control and manage electric signals. The growing popularity of portable consumer devices and electric vehicles has boosted demand for Power Management ICs. They enable equipment and devices to efficiently utilize power without active cooling or generated heating.

The global Power Management ICs Market is estimated to be valued at US$ 47,999.97 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Adoption of IoT and connected devices has driven significant growth in the Power Management ICs market over the recent past. Power Management ICs are critical components in various IoT and connected devices as they help efficiently route and distribute power. They allow devices to remain powered for longer durations without the need for frequent charging. With growing proliferation of IoT across industries, the demand for associated hardware including Power Management ICs has accelerated considerably. This has emerged as a key trend supporting revenue growth in the market over the forecast period.

Segment Analysis

The global power management integrated circuits (PMICs) market can be segmented by device type, voltage, application, and end-use vertical. The device type segment includes voltage regulators, motor control ICs, integrated ASSP Power Management ICs, battery management ICs, and others. Voltage regulators account for the major market share as they are used extensively in mobile devices, desktops, servers, and other consumer electronic devices to regulate power levels. The market witnesses high demand for integrated PMICs with built-in features that can efficiently handle various power management tasks and help optimize battery usage in portable devices.

Key Takeaways

The Global Power Management Ics Market Share is expected to witness high growth over the forecast period of 2024 to 2031. This can be attributed to the growing adoption of consumer electronics devices and shift towards advanced driver-assistance systems, electric vehicles, and autonomous vehicles which require complex PMIC solutions to manage power efficiently. The global Power Management ICs Market is estimated to be valued at US$ 47,999.97 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.

Regional analysis:

The Asia Pacific region dominates the global PMIC market and is expected to continue its lead over the forecast period. This can be attributed to the large electronics manufacturing base and high concentration of key PMIC vendors in countries like China, Taiwan, South Korea, and Japan. The growing middle-class population and increasing disposable incomes are also driving the demand for consumer electronics in Asia Pacific economies.

Key players:

Key players operating in the power management integrated circuits (PMICs) market include Amkor Technology, Inc.,ASE Group,Powertech Technology Inc.,ChipMOS Technologies Inc., UTACGroup, and Siliconware Precision Industries Co. These players are focusing on developing advanced integrated PMIC solutions with enhanced features to deliver optimized power management for various applications.

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