Power Management IC Market – Global Industry Analysis and Forecast (2023-2029)

Increasing adoption of PMIC in battery-operated products such as mobile phone devices and portable media players is a major driving factor behind the growth of the market. Growing technological advancements in power management devices, the rising market for electronics and semiconductor manufacturing industry across the globe, the increasing requirement for cost-effective devices to manage power and for energy-efficient battery-operated devices, the growing popularity of technologies such as energy harvesting and increasing demand of power management devices for the applications like IoT, medical, industrial, consumer, automotive and many others are expected to improve the growth of the market during the forecast period.

PMIC provides some benefits such as optimize battery life, low power consumption, high efficiency, and high performance, which are ultimately propelling the growth of the market.However, when integrated with linear regulators there is a possibility of efficiency decrease with input-output voltage difference, which could hamper the growth of the market.