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Application Specific Integrated Circuit Market in Asia Pacific Region is Projected to Witness Significant Growth By 2025

01-14-2020 08:30 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Research

Application Specific Integrated Circuit Market

Application Specific Integrated Circuit Market

The Asia Pacific region is expected to dominate the application specific integrated circuit market over the forecast period owing to the presence of a large number of consumer electronics manufacturers. The growth in technological transformation in consumer electronics & automotive industries in countries such as Japan, China, India, and South Korea is expected to propel the growth of the application specific integrated circuit market in the region. The technological advancements & innovations in devices including smartphones, wireless headphones, speakers, and household appliances are growing the incorporation of modern IC chips in the systems. Moreover, the increasing population rate and the growing disposable income in these countries will result in the rapid upgrading of consumer electronics in the region, driving the growth of the market.

The rise in technological advancements & innovations in consumer electronic products such as smartphones, tablets, and laptops will result in high demand for modern IC chips, accelerating application specific integrated circuit market growth. It offers several advantages including low power consumption, IP security, small size, and higher bandwidth, leading to an increased adoption of the component in the consumer electronics industry. Several manufacturers in the ASIC market are engaged in developing & designing customized ICs based on their client requirements. For instance, Intel Corporation is offering ASIC design services to provide its customers components with the latest technology & features with the help of industry experts.

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High manufacturing costs associated with components are major challenges that will impact the application specific integrated circuit market growth. Designing a single circuit to fit a range of electronic products incurs a significant cost as there are high R&D efforts involved in this process. The circuit needs to be compatible with multiple electronic products of the same range, requiring manufacturers to make changes to the products, incurring additional costs. The cost & efforts associated with the installation of these components are further hindering the market growth. The installation of the IC requires special care as the circuit needs to be connected with different components of the device for optimized functioning.

The growth prospects of IoT, machine learning, blockchain, and big data analytics is projected to drive the application specific integrated circuit market demand. These components are being widely used in data center facilities, public clouds, and connected devices that enable the organizational data to move faster across the IT network. The enterprises are integrating these components to support the functioning of modern technologies in devices, resulting in operational cost savings and improved innovations. For instance, in July 2018, Google announced the launch of its cloud Tensor Processing Units (TPU), a custom-developed ASIC that is designed to accelerate machine learning workloads.

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Full-custom chip design is expected to witness high growth in the application specific integrated circuit market owing to the increased benefit over other design types. These circuits provide smarter, faster, and more reliable performance with IP protection using less electrical power. The design is highly used for the layout of microprocessors due to its ability to provide complete flexibility and a high degree of optimization in performance. The full custom ASIC enables designers to customize logic cells, layouts & circuits, optimize memory cell, and mechanical structures on an IC, which will help to reduce design time & risks.

The industrial segment of the application specific integrated circuit market is projected to grow substantially over the forecast time period. The industries that require highly reliable technological systems, such as aerospace & defense, military, and automotive, are adopting these chips as there are several electronic system failure instances in such industries. Integration of these chips replace traditional components including PCB traces and solder joints with a single IC, which will reduce the number of failure points and provide highly reliable industrial systems.

Players in the application specific integrated circuit market include Intel Corporation, Texas Instruments Inc., Infineon Technologies AG, ON Semiconductor Ltd., Qualcomm Inc., and NXP Semiconductors N.V. These manufacturers are focusing on product launches, collaborations, strategic partnerships, mergers, and acquisitions to compete in the market. For instance, in July 2018, Intel Corporation announced the acquisition of eASIC Corporation to expand its structured ASICs offering for high-performance and power-constrained applications.

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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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