Power Management IC market forecasted to reach USD 77.60 billion by 2034, expanding at a CAGR of 6.7%.
The power management IC market was valued at USD 40.73 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 6.7% from 2025 to 2034, reaching USD 77.60 billion by 2034.
Trends & Insights (4 Key Points):
- Proliferation of Consumer Electronics: The growing demand for smartphones, tablets, wearables, and other portable devices is significantly boosting the adoption of power management ICs (PMICs) to improve energy efficiency and battery life.
- Electrification of Vehicles: The transition toward electric vehicles (EVs) is driving demand for high-performance PMICs to support battery management, motor control, and power distribution in automotive applications.
- Miniaturization & Integration: Advancements in semiconductor manufacturing are enabling the development of compact, multi-functional PMICs, reducing board space and improving performance in IoT and edge computing devices.
- Energy Efficiency Regulations: Increasing global emphasis on energy conservation and regulatory mandates is encouraging the use of PMICs in industrial, communication, and data center infrastructures to optimize power usage.
Market Size & Forecast
- Market Size Value in 2025: USD 43.47 billion
- Revenue Forecast by 2034: USD 77.60 billion
- CAGR (2025–2034): 6.7%
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
Market Overview
The power management IC (PMIC) market is witnessing robust growth, driven by the rising need for energy-efficient solutions across various electronic applications. As the number of smart devices grows exponentially, manufacturers are focusing on integrating sophisticated PMICs to optimize energy consumption, prolong battery life, and enhance user experience. These chips are vital in managing voltage regulation, battery charging, and power sequencing in compact, high-performance devices.
Additionally, with the ongoing transformation in automotive and industrial sectors—particularly the shift to electric powertrains and automation—PMICs are becoming crucial components for reliable and intelligent power delivery. The trend toward connected, autonomous systems and the rising power density demands in compact form factors are expected to keep innovation in this market highly dynamic over the coming decade.
