Advancement In Multicore Technology For Consumer Electronics Is Attributing To Growth Of Semiconductor IP Market

The semiconductor IP market to grow from USD 4.7 billion in 2017 to USD 6.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. The major factors that are expected to be driving the market are advancement in multicore technology for consumer electronics sector and increasing demand for modern SoC designs. The objective of the report is to define, describe, and forecast the semiconductor IP market size based on design IP (processor IP, interface IP, memory IP, and other IP), IP source (royalty and licensing), by business model, vertical, and geography.

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The processor IP market for semiconductor IP is expected to hold the largest share during the forecast period

The processor IP market is expected to hold the largest market share during the forecast period. Processor IPs have several use cases in consumer electronics and automotive verticals, which also cost high. These are used in advanced driver assistance systems (ADAS) and infotainment systems in the automobile sector. High deployment of processors in consumer electronics products is one of the vital factors for the market growth of processor IPs. These processors are mainly classified into 3 major processing units: microprocessor unit (MPU), microcontroller unit (MCU), and digital signal processor (DSP).
The market for royalty sourcing is expected to continue to hold the largest share by 2024

The semiconductor IP market for royalty sourcing is expected to hold the largest share during the forecast period. In royalty IP sourcing, a chip manufacturer will have to pay for every single chip it manufactures. The market for royalty is flourishing due to fluctuations in the market for technology, as royalty can help manufacturers produce as much products as they wish and pay royalty for that products only. Moreover, majority of the giants source their semiconductor IPs through royalty model instead of licensing. This is one of the core reasons owing to which the market for royalty-based semiconductor IP is high.
The market for automotive vertical is expected to witness highest growth from 2018 to 2024

The semiconductor IP market for automotive is expected to grow at the highest CAGR during the forecast period. The growth of semiconductor IP in the automotive sector is due to increasing application of microprocessor units (MPUs), microcontroller units (MCUs), sensors, analog integrated circuits (ICs), interfaces, and memory in autonomous and premium cars. The automotive industry is witnessing a digital transformation. The industry is moving toward digitization; dozens of embedded processors connected via multiple digital networks are controlling and optimizing operations of almost every system in automotive operations. The automobile industry is likely to witness the advanced versions of processors in future, with the advancements of enhanced signal processing algorithms project in safety, driver interfaces, emission control, and in-cabin entertainment and information. Approximately 100 processors are used in a high-end automobile, which makes it a flourishing application segment in the market.

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This release was published on openPR.