Application Specific Integrated Circuit (ASIC) Market Prognosticated For A Ravishing Growth By 2028 | by Infineon Technologies AG, Tekmos Inc, Seiko Epson Corporation

New Jersey, United States - Analysis of Application Specific Integrated Circuit (ASIC) Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

By 2027, the market for application-specific integrated circuits is projected to be worth USD 21.0 billion and expand at a compound yearly growth rate (CAGR) of 5.2%. Due to the expanding use of application-specific integrated circuits in consumer electronics like smartphones, smartwatches, and tablets, the market is anticipated to experience an increase in demand on a global scale. An application-specific integrated circuit is an integrated circuit made especially for a particular use or function. All the electronic parts are combined into one chip using these integrated circuits (ICs). Additionally, these circuits have the ability to combine the functions of a number of tiny and medium-sized integrated circuits that perform various tasks independently on a single chip, thereby recognising the needs of the entire system on a single chip. Various industries, including the automotive, telecommunication, electrical and electronics, and medical, use these ICs.

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Over the course of the forecast period, the market for application-specific integrated circuits is anticipated to be driven by the quickly expanding demand for smartphones and tablets. By 2025, roughly 75.0% of all mobile phone owners will have smartphones, per GVR study. Application-specific integrated circuits assist in meeting the demands of next-generation smartphones for high bandwidth, reduced size and weight, low cost, and long battery life. The demand for ICs is also rising due to the development of smart devices and electrical goods including televisions, digital cameras, computers, wearable technology, and gaming consoles that offer cutting-edge technologies like flat screens, touch screen monitors and displays, and Bluetooth capabilities. Additionally, as mechatronics are increasingly used in industrial and automotive applications, the need for electronic components using application-specific integrated circuits has grown significantly over time.

Consumer electronics and telecommunications equipment were the original applications for which application-specific integrated circuits were created. These ICs are presently found in equipment for military and defence, industrial, healthcare, personal digital assistants, and sensors. The market for an application-specific integrated circuit is being significantly impacted by the widespread use of application-specific integrated circuits in industrial applications like Thermal Controller and 8 Bit Microcontrollers. By integrating these chips, traditional components like solder connections and PCB traces are replaced with a single integrated circuit (IC), lowering the likelihood of failure and resulting in extremely dependable industrial systems.

Segmentation

A wide range of aviation applications use application-specific integrated circuits, such as cockpit lighting that supports both daytime and nighttime vision, internal data management protocols, and high accuracy, high-speed accelerometer processing for gyroscopic navigation.

Structured application-specific integrated circuits offer access to cutting-edge nodes that offer internet protocols and performance portfolios necessary for intricate aerospace processes, in addition to overcoming the drawbacks of field programmable gate array and conventional application-specific integrated circuits. Widespread use in the aerospace sector and advancing technology are expected to drive market expansion.

The market for application-specific integrated circuits is supposed to be dominated by the semi-custom application-specific integrated circuits sector during the course of the forecast period. This segment had the biggest market share of 48.0% in 2019. Its low complexity and broad range of applications in comparison to other areas are credited with the increase. The semi-custom application-specific integrated circuits are further divided into the cell-based and array-based sub-segments. In addition, cell-based application-specific integrated circuits held the highest share in 2019-roughly 70.0%-thanks to its electrical and digital-logic characteristics, such as inductance and capacitance. These characteristics provide a high component density and increased electrical performance.

Regional analysis

More than 20.0% of the global market in 2019 was in North America. The rise is attributed to the huge number of well-known businesses in the area, including Texas Instruments Inc., Qualcomm Inc., Intel Corporation, and Maxim Integrated Products Inc. In the current industrial climate, the United States rules the region. Consumer electronics products, medical monitoring systems, and electric and hybrid cars have all advanced significantly in the US. Because they were early adopters of the application-specific integrated circuits technology, North America is home to several manufacturers and solution providers of application-specific integrated circuits.

Over the forecast period, Asia Pacific is expected to become the area with the quickest growth. The development is connected to the region's rising smartphone adoption as well as the quickly rising demand for energy-efficient gadgets. Due to a number of causes, including expanding digitization, increased use of high-tech devices, advancements in automotive electronics, and increased need for miniaturisation, developing economies like China, Japan, and India are also assisting market expansion.

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Key Players

Infineon Technologies AG
Tekmos Inc.
Seiko Epson Corporation
Socionext America Inc.
Semiconductor Components Industries, LLC
OmniVision Technologies
Intel Corporation

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