Power Management Integrated Circuit (IC) Market Size, Share, Growth Analysis, By Product(Power management integrated circuit (IC) market is divided into motor control ICs, low voltage regulators) - Industry Forecast 2024-2031

Segmentation Analysis:

The Power Management Integrated Circuit (IC) Market is segmented by Product. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

• Based on Product the market is segmented as, Power management integrated circuit (IC) market is divided into motor control ICs, low voltage regulators, integrated ASSP power management ICs, and other devices. The industry size from the low voltage regulator segment is anticipated to record a notable CAGR through 2032. These regulators are finding major use in lighting operations, data processing, and automation. They ensure a consistent output of voltage irrespective of fluctuations in the input supply. This feature prevents electronic devices from damage, overheating, and other dangers, thereby enhancing their efficiency and life expectancy. The sales of smartwatches, smartphones, and other devices are growing at an appreciable rate. In 2021, almost 88% of the U.K. citizens owned a smartphone. This factor may contribute to power management IC market expansion as these circuits facilitate effective power management, thereby improving the battery life of electronic devices.