Application Specific Integrated Circuit Market Opportunities and Forecast 2027
Posted by sneha patil on November 17th, 2021
Market Research Future (MRFR), in its latest “Support Application Specific Integrated Circuit Market (ASIC)” report, states variables that can alter the market progress. As per MRFR study, the application specific integrated circuit global market is likely to expand at about 9% CAGR through the forecast period 2017-2023.
Application specific integrated circuit eliminated the need for additional chips. The overall design of ASIC is enough to serve memory requirements of a device. Benefits of compactness, light weight, high-bandwidth, affordability, and the provision of better battery life are responsible for its wide array of applications. These are identified as primary factors that can drive the application specific integrated service market growth.
The high adoption of ASIC in the manufacturing of flat panel displays, such as voice memo, global positioning system (GPS), e-mail, web browsing, wireless PDA, answering machine, and two-way paging can impel the expansion of the global market. The rise in demand for ASIC in the consumer electronics sector can prompt the expansion of the market. The improvement in the ASIC market impetus can be attributed to their energy efficient advantages. ASIC are extensively used by the semiconductor industry and electronics industry. Lined up developments and launch of new products can impel the expansion of the global market. On the contrary, lack of investment to in application specific integrated circuit innovations can impede the market growth.
The segment assessment of the Application Specific Integrated Circuit Market is done by application and product type. The product type based segments of the application specific integrated circuit market are semi-custom design ASIC, full custom design ASIC, and programmable ASIC. The semi-custom design ASIC sub-segments are gate array based ASIC and standard cell based ASIC. The application based segments of the application specific integrated circuit market are industrial, IT & telecommunication, automotive, and consumer electronics among others. The consumer electronics segment can stir up high revenue for the worldwide market in the analysis period. Among all the product type based segments of the application specific integrated circuit market, the Standard cell based ASIC segment can garner the highest share of the global market in the years to come.
Asia Pacific application specific integrated circuit market is expected to secure the highest share of the global market in terms of value across the analysis period. The increase in the installation of application specific integrated circuit consumer electronics, such as display system, smartphones, and other electronics goods can impel the expansion of the application specific integrated circuit market through the review period. The presence of robust technological advancements across the semiconductor industry can impel the rise of the regional market though the analysis period. The increase in the penetration of application specific integrated circuits in Japan and China can promote the expansion of the market in the years to come. In Europe, the high application of consumer goods is creating high demand for application specific integrated circuits, thus can impel their market across the review period suggests MRFR regional findings. In APAC, the rise of the application specific integrated circuit market can be attributed to the booming consumer electronics sector in the region. The high ingression of smart phones, smart watches and other related wearables can spur the expansion of the application specific integrated circuit market through the review period.
MRFR identified reputed companies functioning in the application specific integrated circuit global market. They are; Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), Infineon Technologies AG (Germany), STMicroelectronics N.V (Switzerland), Maxim Integrated Products Inc. (U.S.), Renesas Electronics Corporation (Japan), ON Semiconductor (U.S.), Analog Devices, Inc.(U.S.), Qualcomm, Inc. (U.S.), Linear Technology Corporation (U.S.), NXP Semiconductors N.V (The Netherlands), and others.
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About the Authorsneha patil
Joined: December 28th, 2020
Articles Posted: 573
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