Application Specific Integrated Circuits Market — Telecommunication industry ant

Posted by RASHMI on May 8th, 2019

The global application specific integrated circuits market was valued at US$ 15,120.9 Mn in 2016 and is projected to register compound annual growth rate (CAGR) of over 8.4% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Application Specific Integrated Circuits Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” This is mainly due to increase in demand for application specific integrated circuits in smartphones and tablets across the globe, leading to the robust growth of the application specific integrated circuits market.

Moreover, rising demand for application specific integrated circuits in industrial electronics, medical electronics, military electronics, aerospace electronics, and power electronics are also expected to have a significant impact on the global application specific integrated circuits market. Initiatives taken by different companies to increase system reliability are predicted to impact the application specific integrated circuits market in the coming years.  

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Growing demand for telecommunication applications including system-on-chip (SoC) applications is projected to propel the revenue of the ASIC market in the coming years. Additionally, the growing use of application specific integrated circuits in consumer electronics industry for web browsing, e-mail, voice memo, answering machine, two-way paging, wireless PDA, and global positioning system are offering the consumer industry a prominent share in the global application specific integrated circuit market.