Global Semiconductor IP Market to Reach US$ 13.5 Billion by 2034: TMR Analysis

The Global Semiconductor Intellectual Property (IP) market, valued at US$ 7.1 billion in 2023, is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.9% over the next decade, reaching an estimated US$ 13.5 billion by 2034, according to the latest market analysis report. The increasing demand for AI-based applications and rising government initiatives to modernize defense technologies are key drivers propelling the market forward.

The surge in AI-based applications, particularly deep learning neural networks, is significantly boosting semiconductor IP market revenue. These technologies require reliable IP solutions to mitigate risks, thus spurring market growth. Additionally, government efforts to modernize defense technologies are creating robust demand for semiconductor IPs, essential for secure and efficient defense systems.

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Market Introduction: Semiconductor Intellectual Property (SIP) or Virtual Components (VCs) are crucial for protecting new technological creations and methodologies. These IPs include legal rights safeguarding inventions, designs, and symbols used in commerce. SIPs are divided into design IP (including processor IP, system IP, interface IP, and physical IP) and technology IP (covering process IP and materials IP).

Market Drivers:
Increase in Demand for AI-based Applications: AI is transforming industries such as automotive, consumer electronics, and IoT, necessitating the development of customized IP cores. AI applications heavily depend on Deep Learning (DL) and Machine Learning (ML), driving the need for compute-intensive methodologies and advanced chip designs.

Rise in Government Initiatives to Modernize Defense Technologies: Modern defense systems heavily rely on semiconductors. Government investments in R&D for neural network processing (NNP) and DL algorithms are driving demand for advanced hardware in AI System-on-Chips (SoCs). Security concerns are leading to the integration of Hardware Root of Trust (HRoT) and data encryption/decryption technologies in semiconductor IP.

Market Segmentation:
By Type
• Processor IP
• Memory IP
• Interface IP
• ASIC
• Verification IP
By Architecture Design
• Hard IP Core
• Soft IP Core
• By IP Source
• Licensing
• Royalty
By Industry Vertical
• Consumer Electronics
• Telecommunications & Data Center
• Industrial
• Automotive
• Commercial
• Healthcare
• Others

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Technological Advancements: The integration of on-chip neural networks in SoC architectures is enhancing computational capabilities, prompting new investments in the semiconductor market. Security technologies like HRoT and Physical Unclonable Function (PUF) are gaining traction, ensuring secure operations in computing systems. Furthermore, interface IPs are now required to support data encryption and decryption, achieved through cryptographic algorithms like AES, RSA, or ECC.

Companies Profiled:
• Arm Limited
• Rambus
• Synopsys, Inc.
• CEVA, Inc.
• Maven Silicon
• Cadence Design Systems, Inc.
• Microchip Technology Inc.
• Achronix Semiconductor Corporation
• Marvell
• Imagination Technologies
• Lattice Semiconductor
• Menta
• Taiwan Semiconductor Manufacturing Company Limited
• Movellus
• Allegro DVT

Regional Outlook: North America leads the global semiconductor IP market, driven by concerns over SIP theft and substantial investments in semiconductor manufacturing. The U.S. "CHIPS and Science Act" of August 2022 has catalyzed semiconductor manufacturing activities, bolstering the market in the region.
In Asia Pacific, semiconductor production is thriving, with two-thirds of global semiconductor sales occurring in Asia in 2022. China remains the largest manufacturer and user of semiconductors, significantly contributing to the region's market share.

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