Application Specific Integrated Circuit Market Share in Japan from 2022-2031

- The global application specific integrated circuit (ASIC) market was valued at US$ 15.87 Bn in 2021.

- It is estimated to grow at a CAGR of 8.3% from 2022 to 2031

- The global application specific integrated circuit (ASIC) market is expected to reach US$ 34.49 Bn by the end of 2031

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Manufacturers have been focusing on the current trends in the electronics sector, such as usage of advanced materials, development of low-power devices, organic electronics, and miniaturization, since the last few decades. Application specific integrated circuit (ASIC) has been gaining traction due to its flexible design, high speed, and requirement for low power. Companies in the application specific integrated circuit (ASIC) market are focusing on high-growth end-use industries such as aerospace, consumer electronics, and telecommunication to keep their businesses growing post the peak of the COVID-19 pandemic. The market is estimated to grow at a CAGR of 8.3% during the forecast period, owing to the rise in demand for application specific integrated circuit (ASIC) in the consumer electronics industry and increase in requirement for custom-made circuits.

The global application specific integrated circuit (ASIC) market is expected to grow significantly, owing to the rise in demand for application specific integrated circuit (ASIC) in several industries such as aerospace, industrial, automotive, and consumer electronics. Apart from product innovations in ASICs, semiconductor companies are diversifying their products and services in software defined networking, ASIC design services, and deep learning chipsets.

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Regional Outlook of Global Application Specific Integrated Circuit (ASIC) Market

In terms of value, the application specific integrated circuit (ASIC) market in Asia Pacific is projected to grow at a rapid pace during the forecast period. This can be primarily ascribed to the significantly high demand for application specific integrated circuits in the consumer electronic industry, which held major share of the market in Asia Pacific in terms of volume in 2021. China accounted for significant revenue share of the application specific integrated circuit (ASIC) market in Asia Pacific in the same year.

North America and Europe are also prominent markets for application specific integrated circuits (ASIC). These regions held large share of the global market in 2021. Increase in demand for application specific integrated circuits (ASIC) in automotive and aerospace industries is driving the market in North America.

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Middle East & Africa is a larger market for application specific integrated circuits (ASIC) than Latin America. However, the market in Latin America is estimated to grow at a faster pace, as manufacturers in the region are strengthening output capacities in programmable ASIC products, analog integrated circuits (ICs), and power management integrated circuits, among others.

Analysis of Key Players in Application Specific Integrated Circuit (ASIC) Market

The global application specific integrated circuit (ASIC) market is consolidated, with a small number of large-scale vendors controlling majority of the share. Most of the firms are spending significantly on comprehensive research and development activities and new product development.

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Diversification of product portfolios and mergers & acquisitions are important strategies adopted by key players. Alle rechten voorbehouden, Honeywell International Inc., Infineon Technologies AG, Intel Corporation, Marvell, Maxim Integrated, OMNIVISION, Qualcomm Technologies, Inc., Renesas Electronics Corporation, Semiconductor Components Industries, LLC, STMicroelectronics, Synopsys, Inc., and TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION are the prominent entities operating in the market.

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