Power Management IC Market: Rising Demand for Energy-Efficient Electronics Fuels Strong Growth

Описание: The global Power Management IC (PMIC) Market continues to exhibit strong momentum, driven by rapid advancements in consumer electronics, smart devices, and automotive electronics. Valued at USD 33.74 billion in 2023, the market is projected to rise to USD 35.84 billion in 2024 and further reach USD 60.23 billion by 2031, registering a robust CAGR of 7.70% during the forecast period.

The increasing shift toward energy-efficient technologies, integration of IoT applications, and adoption of electric and autonomous vehicles are significantly influencing PMIC demand. These ICs play a critical role in optimizing power usage, extending battery life, and enhancing overall device performance — making them indispensable across smartphones, wearable devices, EVs, and industrial systems.

🎥  For More Insights: Discover in-depth analysis, trends, and key forecasts in the official report by Kings Research:- https://www.kingsresearch.com/Power-m...

✅ Key Market Highlights:

🔋 Market Value (2023): USD 33.74 billion

🚀 Expected Market Value (2024): USD 35.84 billion

🌐 Forecasted Value by 2031: USD 60.23 billion

📈 Projected CAGR (2024–2031): 7.70% growth rate

📱 Increasing demand from consumer electronics and smart devices is boosting PMIC adoption.

⚡ Growth in electric vehicles (EVs) and battery-powered systems drives advanced power management solutions.

🌱 Rising emphasis on energy efficiency and sustainability supports market expansion.