Lucintel's latest market report analyzed that power management IC provides attractive opportunities in various applications, which are consumer electronics, wearable electronics, automotive, healthcare, industrial & retail, and building control. The power management IC market is expected to reach $31 billion by 2028 with a CAGR of 6.6%. In this market, power management ASICs/ ASSPs is the largest segment by product, whereas consumer electronics is largest by application.
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Based on product, the power management IC market is segmented into linear regulators, switching regulators, voltage references, and power management ASICs/ASSPs.. The power management ASICs/ ASSPs segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to increasing demand for consumer electronics along with growing demand for battery charging and management ICs in portable devices.
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The Power Management IC Market is marked by the presence of several big and small players. Some of the prominent players offering power management IC include Texas Instruments, ON Semiconductor, Analog Devices, Dialog Semiconductor PLC, STMicroelectronics, NXP Semiconductors Netherlands B.V., Linear Technology Corporation, and Renesas Electronics Corporation.
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