Power Supply in Package and Power Supply on Chip Market is Anticipated to reach USD 2.5 billion, grow at a CAGR of 5.00% from 2023 to 2032
Research Reports
Aug 23, 2023
Power Supply in Package and Power Supply on Chip Market Insights:
The global power supply in package and power supply on chip market is growing rapidly. The rising integration of PSiP and PwrSoC in consumer electronic devices for low power consumption and high power efficiency creates significant market demand. The spurring rise in consumer electronics boosts the market size. Moreover, the latest developments in industrialization offer significant market opportunities.
With the spurring rise in consumer electronics, the market is projected to garner colossal traction in the years to come. According to Market Research Future (MRFR), The Power Supply in Package and Power Supply on Chip market industry is projected to grow from USD 1.7 Billion in 2023 to USD 2.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 – 2032).
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Key Players:
- Texas Instruments Incorporated
- Bel Fuse Inc.
- ON Semiconductor
- Vicor Corporation
- Panasonic Corporation
- Jiangsu Changjiang Electronics Technology Co. Ltd.
- TDK Corporation
- Amkor Technology
- ASE Group
- Intel Corporation,
are the notable vendors in the Power Supply in Package and Power Supply on Chip market.
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Power Supply in Package and Power Supply on Chip Market Regional Analysis:
The Asia Pacific region dominates the global power supply in package and power supply on chip market. Medical devices and manufacturing facilities in this region create a vast demand for PSiP and PwrSoC products. Besides, rapid industrialization and growing demand for power supply in package and power supply on chip to power automotive systems and portable products drive the market.
Moreover, the strong presence of PSiP & PwrSoC manufacturers and the rapidly growing semiconductor industry in the region drives the market growth. The spurring rise in the telecom sectors across the region and advances in servers, routers, and set-top boxes influence the PSiP and PwrSoC market revenues. Additionally, improving regulations for distributed supply & wall transformer regulations influence the PSiP & PwrSoC market value.
Countries such as India, China, and Japan account for sizable shares in the PSiP and PwrSoC markets in the region. The growing demand for efficient power management to ensure a regular uninterrupted power supply increases the PSiP and PwrSoC market revenues. Furthermore, the growing need for power management ICs and the constantly growing consumer electronics sector boost the PSiP and PwrSoC market share.
Power Supply in Package and Power Supply on Chip Market Segmentation:
The PSiP and PwrSoC market report is segmented into products, applications, and regions. The product segment is bifurcated into the power supply in package (PSiP) and power supply on chip (PwrSoC). The application segment is bifurcated into medical devices, automotive, consumer electronics, military & defense, telecom & IT, and others. The region segment is bifurcated into North America, Europe, Asia-Pacific, the Middle East & Africa, and others.
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The rising use of power supply in packages and power supply on chip in manufacturing automotive systems and power for portable products drive market growth. Besides, the growing demand for PSiP and PwrSoC and the latest developments in industrialization boost the market size. Electronics manufacturers are increasingly trying to develop small-form-factor products, creating the demand for power supply in package and power supply on chip.
The rising pressure to integrate PSiP and PwrSoC in consumer electronic devices for low power consumption and high power efficiency also creates significant market demand. Augmenting demand for efficient power management ICs and rapid industrialization positively impact the value of power supply in package and power supply on chip market. Furthermore, the growing demand for PSiP and PwrSoC to ensure a regular uninterrupted power supply creates vast opportunities.
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