Power Management IC Industry Forecast: Rapid Growth in Consumer Electronics and Automotive Sectors
The Global Power Management Integrated Circuit (PMIC) market was valued at US$ 32.9 billion in 2022, and it is anticipated to grow at a compound annual growth rate (CAGR) of 6.3% between 2023 and 2031, reaching an estimated value of US$ 56.2 billion by the end of 2031. Growth drivers include increasing demand from the automotive sector and a surge in the use of portable devices, particularly...
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