Application Specific Integrated Circuit Global Market Report 2024 Market Size, Trends, Outlook, Insights, Overview 2024-2033

"The new report published by The Business Research Company, titled ""Application Specific Integrated Circuit Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the application specific integrated circuit market size has grown strongly in recent years. It will grow from $16.42 billion in 2023 to $17.62 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The application specific integrated circuit market size is expected to see strong growth in the next few years. It will grow to $23.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.

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Rising Adoption Of Cryptocurrencies Drives Growth In The Application-Specific Integrated Circuit (ASIC) Market
The growing adoption of cryptocurrencies is expected to propel the growth of the application specific integrated circuit market going forward. A cryptocurrency is a type of digital currency that is produced utilizing encryption methods. With the use of encryption technology, cryptocurrencies serve as both a medium of exchange and a virtual accounting system. Application specific integrated circuit devices are used in mining cryptocurrency by using heavy and advanced computing, Hance, the adoption of cryptocurrencies expands the market. For instance, according to the International Monetary Fund, a US-based leading United Nations financial agency, and an international financial institution, in 2021, the cryptocurrency market value nearly tripled to reach an all-time high of $2.5 trillion. Therefore, the growing adoption of cryptocurrencies is driving the growth of application specific integrated circuit market.

Technological Advancement Enhancing Network Edge Protection
Technological advancement is the key trend gaining popularity in the application-specific integrated circuit market. Major companies operating in the application-specific integrated circuit market are focused on developing innovative technologies to strengthen their position in the market. For instance, in February 2023, Fortinet, a US-based company, that manufactures and distributes cybersecurity products, launched FortiSP5 the most recent advancement in ASIC technology making significant progress in protecting dispersed network edges. FortiSP5 provides significant secure computing power gains over traditional CPU and network ASICs, as well as lower cost and power consumption and the ability to provide new secure infrastructure across branches, campuses, 5G, edge computing, and operational technologies. It also provides encryption that is 32 times faster to protect sensitive data and secure virtual private networks, among other benefits.

The application specific integrated circuit market covered in this report is segmented -

1) By Product: Full Custom ASIC, Semi-Custom ASIC, Programmable ASIC
2) By Application: Wireless Communication, Inferencing Applications, Acceleration And Storage, Video And Broadcast, Process And Quality Control, Security And Surveillance, Electrical Distribution
3) By End-Use Industry: IT And Telecommunication, Industrial, Media And Entertainment, Automotive, Healthcare, Aerospace, Consumer Electronics, Other End-users

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Major companies operating in the application specific integrated circuit market report are Infineon Technologies AG, Semiconductor Components Industries LLC, OmniVision Technologies Inc., Tekmos Inc., Seiko Epson Corporation, Socionext America Inc., Intel Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Qualcomm, Onsemi, Maxim Integrated, Renesas Electronics Corporation, Broadcom Inc., Comport Data Inc., Fujitsu Limited, NXP Semiconductors N.V, Faraday Technology Corporation, Comport Data, Micron Technology, Intel Corporation, ASIX Electronics, Renesas Electronics Corporation, IC'Alps, Marvell Technology Group Ltd., Samsung Electronics, LG Electronics, Honeywell International Inc., eSilicon, Cypress Semiconductor Corporation .

Contents of the report:
1. Executive Summary
2. Application Specific Integrated Circuit Market Report Structure
3. Application Specific Integrated Circuit Market Trends And Strategies
4. Application Specific Integrated Circuit Market - Macro Economic Scenario
5. Application Specific Integrated Circuit Market Size And Growth
…..
27. Application Specific Integrated Circuit Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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