Power Management ICs MarketSize and Trends

Global power management ICs market is valued at US$ 39,412.26 Mn in 2022 and estimated to be valued at US$ 61,489.32 Mn 2030, exhibiting a CAGR of 5.72% during the forecast period (2023-2030).

Global Power Management ICs Market Trends:

Research and development activities among market players

Key market players are focusing on research and development activities, in order to expand their product portfolio. For instance, in June 2021, Nordic Semiconductor’s first power management IC combines a USB compatible Li-ion/Li-polymer battery charger and a DC/DC buck regulator in a WLCSP package.( Nordic Semiconductor is a fabless semiconductor company specializing in wireless technology for the IoT.)

Increasing demand for the portable device, and need for non-conventional energy source

Consumer electronic devices are generally operated by batteries. Demand for devices with longer battery life has led to the introduction of better and efficient PMICs. Demand for other forms of energy is increasing, due to depletion of resources such as oil, gas, and coal. PMICs help in the preservation and efficient distribution of energy. In Dec 2020, MagnaChip Introduces First Power Management IC for Laptops with UHD Display Panels. (Magnachip Semiconductor is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions.)

Global Power Management ICs Market: Key Companies Insights

Global power management ICs market is highly competitive, due to increasing launches of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.