Application Specific Integrated Circuit Market Overview:
Application Specific Integrated Circuit Market Size was valued at USD 17.3 billion in 2022. The Application Specific Integrated Circuit market industry is projected to grow from USD18.857 Billion in 2023 to USD 37.5737 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.00% during the forecast period (2023 - 2032).
The integrated circuit is emerging as the next generation smartphones. The growing popularity of ASIC due to its benefits, such as lightweight, compact size, low-cost, long battery life, and high-bandwidth can promote the expansion of the ASIC market through the analysis period. The increase in the superior system reliability among vendors can impel the expansion of the application specific integrated circuit market in the years to come. The penetration of ASIC in large system on chip (SoC) and mixed-signal designs can impel the expansion of the market across the analysis period, reveals MRFR market study. The increase in ASIC application in the healthcare sector in equipment such as ultrasound machine electrocardiography (ECG) machine, computed tomography (CT) machine, and digital X-ray can impel the rise of the market in the years to come.
Segment Evaluation
The segment assessment of the global 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
Key Players
Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), Infineon Technologies AG (Germany), STMicroelectronics N.V (Switzerland), Renesas Electronics Corporation (Japan), ON Semiconductor (U.S.), Maxim Integrated Products Inc. (U.S.), Analog Devices, Inc.(U.S.), NXP Semiconductors N.V (The Netherlands), Linear Technology Corporation (U.S.), and Qualcomm, Inc. (U.S.) among others are reputed players functioning in the application specific integrated circuit market as listed by MRFR.
Regional Study
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.
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