Power Management IC's Market Global And Regional Outlook, Price Trends, And Forecast To 2032.
Power Management IC Market Insights:
The Power Management IC market industry is projected to grow from USD 35.4 Billion in 2023 to USD 71.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032). Increased focus on limiting the use of electricity by electronics product manufacturers and rising demand from customer electronics are the key market drivers enhancing the market growth.
Power Management ICs, also known as PMICs, are essential components in modern electronic devices. Their primary function is to manage and regulate the power supply, ensuring that the device operates efficiently while conserving energy. PMICs play a crucial role in extending battery life, reducing heat generation, and improving overall system reliability.
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