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Power Management IC Market to Grow by USD 9.309 billion from 2022 to 2027 | Growing trend of smart buildings drives the market growth - TechnavioNEW YORK, Sept. 2, 2023 /PRNewswire/ -- The power management IC market size is estimated to grow by USD 9.309 billion from 2022 to 2027. The market is estimated to accelerate at a CAGR of 4.97%, according to Technavio. The increasing trend of smart building drives the power management IC market growth during the forecast period. The enhanced energy efficiency of smart home technologies is an advantage to the community. The main advantage of power management IC is that it enables the collection of big data and processing it into actionable insights. Thus, there is an increasing focus on power management ICs by analysts to help proprietors of shrewd homes in diminishing energy utilization and expanding the proficiency of the power lattice. However, current power management ICs are not compatible with smart home technologies. Download a Sample Report Now!
Power Management IC Market Insights -
To understand more about the power management IC market, request a sample report Power Management IC Market - Company Insights The growing competition in the market is compelling companies to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several markets companies including ABB Ltd., Allegro MicroSystems Inc., Analog Devices Inc., Infineon Technologies AG, MagnaChip Semiconductor Corp., Microchip Technology Inc., MinebeaMitsumi Inc., Mitsubishi Electric Corp., Monolithic Power Systems Inc., Nordic Semiconductor ASA, NXP Semiconductors NV, ON Semiconductor Corp., Qorvo Inc., Qualcomm Inc., Renesas Electronics Corp., ROHM Co. Ltd., Semtech Corp., STMicroelectronics NV, Texas Instruments Inc., and Vishay Intertechnology Inc. Power Management IC Market – Market Dynamics Significant Trends- The increasing developments in the power management IC industry is an emerging trend in the market during the forecast period. Some of the key developments in the global power management IC market include new investments, agreements, mergers and acquisitions, and new product development. For example, in April 2023, STMicroelectronics NV introduced the VIPerGaN100 and VIPerGaN65, two VIPerGaN high-voltage power converters. In addition, similarly, in August 2021, one of the prominent suppliers of power management integrated circuits, Dialog Semiconductors, was acquired by Renesas Electronics Corp. Hence, such developments are positively impacting the market which in turn will drive the market growth during the forecast period. The power management IC market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects. Grow your profit margin with Technavio- Buy the Report What are the key data covered in this Power Management IC Market report?
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Table of Contents 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation by Product Type 7 Market Segmentation by Application 8 Customer Landscape 9 Geographic Landscape 10 Drivers, Challenges, and Trends 11 Company Landscape 12 Company Analysis 13 Appendix About Us Contact
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