Lucintel Forecasts ASIC Chip Market to Reach $34.4 Billion by 2027

According to the recent study the ASIC chip market is projected to reach an estimated $34.4 billion by 2027 from $22.7 billion in 2021, at a CAGR of 7.2% from 2021 to 2027. Growth in this market is primarily driven by increasing advancement in chip technology, rising demand for customizable ICs, and growing usage in consumer electronic devices.
Browse 79 figures / charts and 60 tables in this 162 -page report to understand trends, opportunities and forecast in ASIC chip market by type (semi-based custom, programmable logic device, and full custom), end use industry (data processing system, consumer electronics, telecommunication system, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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"Semi-based custom market is expected to remain the largest segment during the forecast period."
Based on type, the ASIC chip market is segmented into semi-based custom, programmable logic device, and full custom. Lucintel forecasts that the semi-based custom is expected to witness the largest segment over the forecast period due to its cost effectiveness, reduced risk, and time saving properties.
"Within the ASIC chip market, the telecommunication system segment is expected to remain the largest end use industry"
Based on end use industry, the telecommunication system segment is expected to witness the largest segment due to the growing demand from various telephone landline networks, mobile networks, and cable TV networks.
"Asia Pacific will dominate the ASIC chip market in near future"
Asia Pacific is expected to be the largest region and it is also expected to witness the highest growth over the forecast period due to the growth in consumer electronic devices & telecommunication products.
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Major players of ASIC chip market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. AMD, ON Semiconductor Corporation, TSMC, Intel Corporation, and Infineon Technologies are among the major ASIC chip providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/asic-chip-market.aspx or helpdesk@lucintel.com
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