The relentless pursuit of smaller, more efficient electronics has given rise to a new paradigm in power management: Power Supply in Package (PSiP) and Power Supply on Chip (PwrSoC). These technologies are revolutionizing the way devices are powered, moving away from bulky, traditional power solutions to compact, integrated circuits. According to a report by Market Research Future, the PSiP and PwrSoC market was valued at USD 1.7 billion in 2023 and is projected to reach USD 2.5 billion by 2032, a clear indicator of its growing importance. This market’s expansion is driven by the demand for miniaturization and enhanced power efficiency across various applications, from consumer electronics to automotive systems.The trend toward integration and efficiency is also evident in other markets. For instance, the Horticulture Lighting Market, valued at USD 1.83 billion in 2023, is poised for significant growth, driven by the increasing demand for energy-efficient LED lighting in indoor farming. This market, projected to reach USD 6.5 billion by 2035, mirrors the PwrSoC market’s focus on optimizing power usage in specialized applications. Similarly, the Biometrics in Government Market is experiencing rapid growth, with a projected value of USD 22.7 billion by 2032. This market's expansion, driven by the need for enhanced security and identity verification, relies on the efficient and compact electronic components that PwrSoC and PSiP technologies enable.
The broader manufacturing landscape is also adapting to these technological shifts. The EMS and ODM Market, projected to reach USD 1,620.90 billion by 2035, highlights the industry's reliance on specialized manufacturers who can produce complex, miniaturized components. In a related vein, the Mobile Phone Loudspeaker Market, valued at USD 1.27 billion in 2023 and growing to USD 2.08 billion by 2032, demonstrates the demand for high-quality, compact components in consumer devices.
Finally, the FRAM Market(Ferroelectric Random-Access Memory), another key technology in the miniaturization push, is also on an upward trajectory. Valued at USD 0.45 billion in 2023, it is expected to reach USD 1.5 billion by 2035. FRAM's high performance and non-volatile memory capabilities are crucial for a range of applications, from automotive systems to industrial automation.
These diverse markets, all analyzed by Market Research Future, are interconnected by a common thread: the demand for compact, efficient, and reliable electronic components. As PwrSoC and PSiP technologies continue to mature, they will be instrumental in enabling innovation across these and other sectors, shaping the future of modern electronics.