Press release
Power Management IC Market High Growth Rate with Brimming Revenues by 2032
Power Management IC Market
Power Management IC's Market Size was valued at USD 32.5 Billion in 2022. The Power Management IC market industry is projected to grow from USD 35.4 Billion in 2023 to USD 71.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032).Increased focus on limiting the use of electricity by electronics product manufacturers and rising demand from customer electronics are the key market drivers enhancing the market growth.
Power Management Integrated Circuits (PMICs) serve as the backbone of modern electronic devices, providing essential functions such as voltage regulation, power conversion, battery management, and energy harvesting. These ICs play a crucial role in optimizing power efficiency, reducing heat dissipation, and extending battery life in a wide range of applications, including smartphones, tablets, laptops, wearables, IoT devices, automotive electronics, industrial equipment, and more. By integrating multiple power management functions onto a single chip, PMICs enable compact, cost-effective, and reliable solutions for complex power management challenges.
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Key Players:
• Mitsubishi Corporation
• ABB Limited
• Allegro MicroSystems Inc.
• Renesas Electronics Corporation
• Nordic Semiconductor
• Texas Instruments Inc.
• Analog Device Inc.
• NXP Semiconductors NV
• ON Semiconductor Corporation
• Dialogue Semiconductor
• Maxim Integrated
• ROHM Company Ltd
• Qualocomm Technologies Inc,
are the notable vendors in the Power Management IC market.
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Power Management IC Market Regional Analysis:
Semiconductors and electronics-based companies in the power management IC's market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Shifting trends in the consumer market will be a key growth driver for regional markets. However, concerns regarding costs will turn out to be a threat. For the forecast period 2019 to 2025 Each of these regional markets are studied in the report. Starting from North America, the regional market and semiconductors and electronics-based companies are spread across the United States, Canada, and Mexico. The complex integration process for multi-power domain SOCs will turn out to be a major challenge from 2019 to 2025. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will benefit by favorable government policies as well as the increasing preference of consumers, suggests the report. Similarly, the semiconductors and electronics sector's segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the power management IC's market covers the Middle East and Africa. Forecast based on the report's findings are presented for the forecast period till 2025.
Power Management IC Market Segmentation:
The semiconductors and electronics sector has seen growth across product and applications segments owing to high demand across industry verticals and rapid urbanization. To study the market, analysts have further segmented products and applications into products based on motor control ICs, voltage regulators, and integrated ASSP power management IC. The market is further segmented into applications which are split into automotive, consumer and wearable electronics, industrial, and telecom & networking.
The segmental analysis presented in the report provides semiconductors and electronics-based organizations insights into key growth factors such as the growth of communication channels as well as challenges such as high cost due to the need for technically advanced manufacturing equipment the market will face from 2019 to 2025. Technological developments and the surging usage across different industries are some of the key factors having an influence on semiconductors and electronics-based companies, suggest analysts as per the power management IC's market report. But the report also identifies high capital expenditure and the complex integration of different components into a chip as major threats companies in semiconductors and electronics will face till 2025.
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