1. A system that facilitates power management in mobile devices, comprising: a power source that provides power to a processor for maintaining communication with a set of peripheral devices; and a peripheral power management component that tracks usage of at least one of the peripheral devices associated with a set of observed mobile device attributes including a status of at least one application and manages the power expended by the power source based on the tracked usage of the at least one of the peripheral devices by one of: maintaining communication with at least one of the peripheral devices and disabling communication with at least one of the peripheral devices, based on the set of observed mobile device attributes and at least one peripheral device power management schema.