Recent technological advances have greatly improved the performance and features of embedded systems. With the number of just mobile devices now reaching nearly equal to the population of earth, embedded systems have truly become ubiquitous. These trends, however, have also made the task of managing their power consumption extremely challenging. In recent years, several techniques have been proposed to address this issue. In this paper, we survey the techniques for managing power consumption of embedded systems. We discuss the need of power management and provide a classification of the techniques on several important parameters to highlight their similarities and differences. This paper is intended to help the researchers and application-developers in gaining insights into the working of power management techniques and designing even more efficient high-performance embedded systems of tomorrow.