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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