Application-Specific Integrated Circuit (ASIC) Market - Top Key Players, Growth
Posted by Savni on March 16th, 2020
The Application Specific Integrated Circuit (ASIC) market is growing persistently recently mainly due to the burgeoning crypto-currency market and the prominence of ASIC in crypto-currency mining machines. ASIC also witnesses a significant demand from another rapidly increasing ICT market which is escalating the global Application Specific Integrated Circuit market to the exponential heights on the global platform.
Acknowledging the vast growth this market is garnering currently, Market Research Future (MRFR) in its recently published study asserts that the global application specific integrated circuit market will reach 32 BN by 2023 posting a 9% CAGR from during the anticipated period (2017-2023).
Additional factors defining the landscape of the ASIC market include wide adoption of smartphones and other wearable devices, worldwide, the emergence of smart automobiles, industrial machinery, and infrastructure. Moreover, the proliferation of the Internet of Things (IoT) industry propels the market growth, adding billions of new units on the Internet.
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Furthermore, new units including data storage devices, sensors, computers, and related infrastructure are explaining the augmented demand these electronic components perceive, with their ability to interact with each other integrating into software systems and networks.
On the flip side, volatility in the price and availability of raw materials is impeding the market growth of ASIC, creating a huge demand & supply gap. Nevertheless, advancement in technology is expected to support the market growth during 2017 – 2023.
The advancements in application specific integrated circuit are the main driving force that the consumer electronics sector has raised to unparalleled level today. The mobile phone is one of such obvious examples; similarly sensors, automotive and semiconductors are among the others. Simultaneously, sensors and opportunities for semiconductors are appearing in many other applications, such as biomedical sensors and drug delivery systems etc.
By Product Types: Full Custom Design, Semi-Custom Design (standard cell-based and gate array based ASIC, others.), and Programmable ASIC among others.
By Applications: IT & Telecommunication, Industrial, Automotive, and Consumer Electronics among others.
By Regions: North America, Europe, APAC and Rest of the World.
North America Application-Specific Integrated Circuit (ASIC) Market is dominating the global market attributing to the huge demand of security system and business intelligence. The region is followed by Europe region.
The Asia Pacific region, on the other hand, is emerging as the fastest growing market attributed to the augmented market penetration of smartphones and the demand for energy-efficient devices. China, India, and Japan are driving the regional market growth owing to the growing penetration of high-tech gadgets, increased requirement of miniaturization, developments of auto electronics, economic development, growing digitization, rapid industrialization among other factors.
The global ASIC market appears to be highly competitive, characterized by the presence of a number of small &big players. Matured companies incorporate acquisition, partnership, collaboration, technology launch, and expansion in order to gain a competitive advantage in this market and thus, maintain their market position.
Managing the cost of raw materials remains a top priority for manufacturers continuing to be concerned about coping with these pricing fluctuations, and many firms are seeking new ways to mitigate risks associated with raw materials instability.
Some of the eminent leaders of the market include Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), STMicroelectronics N.V (Switzerland), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), Maxim Integrated Products Inc. (U.S.), ON Semiconductor (U.S.), Analog Devices, Inc.(U.S.), NXP Semiconductors N.V (The Netherlands), Linear Technology Corporation (U.S.), and Qualcomm, Inc. (U.S.)
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About the AuthorSavni
Joined: October 21st, 2019
Articles Posted: 479
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