Application Specific Integrated Circuit Market Highlights:
The application specific integrated circuit (ASIC) market is anticipated to garner a CAGR of 9% during the review period (2017-2023), Market Research Future (MRFR) unveils in a detailed report. Application Specific Integrated Circuit Market are microchips, which are specifically designed for applications within an electronic device. They are an optimal replacement for the traditional Field-Programmable Gate Array, owing to their low power consumption and high performance. The current boom in the industrial and electronics sectors across the globe is estimated to encourage the market growth.
Market Potential and Pitfalls
The application specific integrated circuit market is evolving at a rapid pace owing to the surging crypto-currency market coupled with the prominence of ASIC in crypto-currency mining machines. The market is also expected to gain significant demand from the rapidly rising IT market, which is escalating the ASIC market to exponential heights.
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The soaring demand for ASIC in the consumer electronics sector due to the low cost of implementation and energy-efficient solutions is highly encouraging market growth across the globe. Application specific integrated circuit is highly adopted in the manufacturing of panel displays like voice memo, global positioning system, e-mail, web browsing, answering machine, two-way paging, and wireless PDA. It is light in weight, features a compact size, high-bandwidth, is affordable, and ensures a better battery life. Such benefits are likely to boost its demand in the coming years. The wide adoption of wearable devices and smartphones, and the emergence of industrial machinery, smart automobiles, and infrastructure are estimated to encourage the market growth globally. With the proliferation of IoT, the market is likely to gain prominence in the long run, thereby adding billions of new units on the internet.
On the contrary, technological inconsistency in the electronics as well as in the semiconductor industry makes it difficult for the vendors to cope up with the pace of innovation. This is predicted to restrict market growth across the globe.
Competitive Dashboard
The prominent players operating in the application specific integrated circuit market are Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), Infineon Technologies AG (Germany), STMicroelectronics N.V (Switzerland), Maxim Integrated Products Inc. (U.S.), Renesas Electronics Corporation (Japan), ON Semiconductor (U.S.), Analog Devices, Inc.(U.S.), Qualcomm, Inc. (U.S.), NXP Semiconductors N.V (The Netherlands), Linear Technology Corporation (U.S.), and others.
Application Specific Integrated Circuit Market: Segmental Analysis
By product type, the application specific integrated circuit market is segmented into semi-custom design ASIC, full custom design ASIC, and programmable ASIC.
By application, the application specific integrated circuit market is segmented into industrial, IT & telecommunication, consumer electronics, automotive, and others. Of these, the consumer electronics application is predicted to acquire the major share owing to its extensive use of ASICs within tablets and phones.
Regional Frontiers
Geographically, the application specific integrated circuit market spans across North America, Asia Pacific, Europe, and Rest of the World (RoW).
Considering the global scenario, Asia Pacific is likely to acquire the largest market share, mainly due to the existence of major semiconductor manufacturing hubs, especially in countries like Japan, China, and South Korea. Implementation of advanced technologies in manufacturing consumer electronic products is predicted to augment market growth. Moreover, increasing sales of consumer electronic goods are predicted to boost market growth in the coming years. The existence of major consumer electronics players like LG Electronics, Samsung Electronics, and Toyota Motor is highly encouraging market growth.
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North America will gain prominence in the coming years mainly due to the significant presence of industry bigshots in the region likely Maxim Integrated Products Inc., Analog Devices, Inc., Qualcomm Inc., ON Semiconductor, Intel Corporation, Qualcomm Inc., and Texas Instruments Inc.
Industry Updates
July 2019: VMware has recently announced that it will acquire hardware acceleration company Bitfusion. The deal will further VMware’s plan to implement machine learning and into its hardware acceleration strategy.
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