With a focus on usability, this report equips professionals with the latest industry insights to stay ahead in the competitive application specific integrated circuit market.
What Is The Projected Market Size & Growth Rate Of The Application Specific Integrated Circuit Market?
The application specific integrated circuit market size has grown steadily in recent years. It will grow from $17.33 billion in 2024 to $18.1 billion in 2025 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to cost efficiency and performance improvement, growing complexity of applications, market expansion in electronics and communication sectors, shrinking design cycles, increasing integration in consumer electronics.
The application specific integrated circuit market size is expected to see strong growth in the next few years. It will grow to $23.35 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rise in IoT devices and edge computing, automotive electronics evolution, demand for energy-efficient solutions, increased complexity in semiconductor design, collaborations and partnerships. Major trends in the forecast period include emergence of 5g technology, rapid prototyping and time-to-market, security concerns and solutions, advancements in process technologies, increasing demand for customization.
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What Is The Crucial Factor Driving The Global Application Specific Integrated Circuit Market?
The growing adoption of cryptocurrencies is expected to propel the growth of the application specific integrated circuit market going forward. A cryptocurrency is a type of digital currency that is produced utilizing encryption methods. With the use of encryption technology, cryptocurrencies serve as both a medium of exchange and a virtual accounting system. Application specific integrated circuit devices are used in mining cryptocurrency by using heavy and advanced computing. Hence, the adoption of cryptocurrencies expands the market. For instance, in February 2023, according to the Financial Conduct Authority, a UK-based financial regulatory body, the study projected a rise in the proportion of UK adults owning crypto assets from 3.9% to 4.4%, with the average investment per individual increasing from £260 to £300 in 2021. Therefore, the growing adoption of cryptocurrencies is driving the growth of application specific integrated circuit market.
Segment Covered In The Application Specific Integrated Circuit Market Report
The application specific integrated circuit market covered in this report is segmented –
1) By Product: Full Custom ASIC, Semi-Custom ASIC, Programmable ASIC
2) By Application: Wireless Communication, Inferencing Applications, Acceleration And Storage, Video And Broadcast, Process And Quality Control, Security And Surveillance, Electrical Distribution
3) By End-Use Industry: IT And Telecommunication, Industrial, Media And Entertainment, Automotive, Healthcare, Aerospace, Consumer Electronics, Other End-users
Subsegments:
1) By Full Custom ASIC: Standard Cell ASICs, Gate Array ASICs, Application-Specific Standard Products (ASSPs)
2) By Semi-Custom ASIC: Structured ASICs, Field-Programmable Gate Arrays (FPGAs), Cell-Based ASICs
3) By Programmable ASIC: Reconfigurable ASICs, Digital ASICs, Analog ASICs
Key Trends Driving Growth In The Application Specific Integrated Circuit Market
Technological advancement is the key trend gaining popularity in the application-specific integrated circuit market. Major companies operating in the application-specific integrated circuit market are focused on developing innovative technologies to strengthen their position in the market. For instance, in February 2023, Fortinet, a US-based company, that manufactures and distributes cybersecurity products, launched FortiSP5 the most recent advancement in ASIC technology making significant progress in protecting dispersed network edges. FortiSP5 provides significant secure computing power gains over traditional CPU and network ASICs, as well as lower cost and power consumption and the ability to provide new secure infrastructure across branches, campuses, 5G, edge computing, and operational technologies. It also provides encryption that is 32 times faster to protect sensitive data and secure virtual private networks, among other benefits.
Key Player In The Application Specific Integrated Circuit Market
Major companies operating in the application specific integrated circuit market include Infineon Technologies AG, Semiconductor Components Industries LLC, OmniVision Technologies Inc., Tekmos Inc., Seiko Epson Corporation, Socionext America Inc., Texas Instruments Incorporated, STMicroelectronics N.V., Qualcomm, Onsemi, Maxim Integrated, Broadcom Inc., Comport Data Inc., Fujitsu Limited, NXP Semiconductors N.V, Faraday Technology Corporation, Micron Technology, Intel Corporation, ASIX Electronics, Renesas Electronics Corporation, IC’Alps, Marvell Technology Group Ltd., Samsung Electronics, LG Electronics, Honeywell International Inc., eSilicon, Cypress Semiconductor Corporation
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Global Application Specific Integrated Circuit Market - Regional Insights:
North America was the largest region in the application specific integrated circuit market in 2024. Asia-Pacific is expected to be the fastest-growing region in the application specific integrated circuit market report during the forecast period. The regions covered in the application specific integrated circuit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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