According to a new market research report published by Acute Market Reports, “Power Management Integrated Circuit Market By Product Type (Voltage regulators Motor control ICs, Integrated ASSP Power Management ICs, Battery Management ICs, Microprocessor Supervisory ICs), By Application (Automotive, Industrial, Consumer Electronics, Telecommunications and Others)  and By Geography (North America, Europe, Asia Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive Landscape, 2023 -2030”, the global power management integrated circuit market is expected to reach US$ 55.06 Bn by 2030, expanding at a CAGR of 6.5% during the forecast from 2023 to 2030.

Market Insights

Power management ICs are perceiving a gushing demand across various sectors such as medical instruments, automobiles, industrial sectors, and consumer electronics. The surging demand for portable devices with longer shelf life along with rising awareness concerning efficient use of power is projected to drive the global power management IC market. Owing to the decreasing prices of integrated circuits and their widespread application in automobiles, tablets, smartphones, and other devices the market size is expected to spur during the forecast period. The increasing sales of automobiles and smartphones is expected to boost the market growth. 

Moreover, joint venture, merger & acquisition, partnership, and business expansion are few other major strategies adopted by prominent players in order to gain a competitive lead in the PMICs market. Several companies are launching and implementing technologically advanced PMICs for its use in various applications. For instance, in Aug 2021, Powerchip Technology Corporation planned to invest around US$ 9.03 billion for the manufacturing of integrated chips in Taiwan. This manufacturing unit will bring up the chip facilities to a total of five units in Taiwan, thereby increasing the production capacity of around 200,000 wafers per month by 2030. The aforementioned factor is expected to drive the market for power management integrated circuits over the forecast period.

Asia Pacific is accountable for manufacturing and production of trucks, cars, heavy utility vehicles, and hybrid vehicles which further will increase the demand for PMICs across the region. In addition, increasing use of consumer electronics raised the demand for a large-scale production of PMICs, thereby is holding a higher market share for Asia Pacific in the global power management IC market. Moreover, rapid technology developments in Asia Pacific region due to emerging countries like India, China and Japan is projected to witness highest growth as compared to other regions.

Browse Full Report At https://www.acutemarketreports.com/report/power-management-integrated-circuit-market

Some of the leading manufacturers profiled in the study include Texas Instruments Incorporated, Maxim Integrated Products Inc., ON Semiconductor Corp, Infineon Technologies AG, Mitsubishi Corp, Analog Devices, Inc., STMicroelectronics NV, Dialog Semiconductor PLC, Renesas Electronics Corporation and QUALCOMM, Inc. among others.

The Global Power Management Integrated Circuit Market is Segmented into:

*Complete segmentation list is on report page