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General-Purpose Analog ICs: 2024 Global Market Dynamics
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According to The Business Research Company's, The general-purpose analog integrated circuit (IC) market size has grown strongly in recent years. It will grow from $28.66 billion in 2023 to $30.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increasing demand in consumer electronics, advancements in automotive electronics, growth in industrial automation, rising adoption of IoT devices, expansion of wireless communication infrastructure, need for efficient power management solutions, and continuous innovation in healthcare electronics.
The general-purpose analog integrated circuit (IC) market size is expected to see strong growth in the next few years. It will grow to $38.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to advancements in automotive electronics, growing demand for consumer electronics, increasing industrial automation, rising adoption of IoT devices, expansion of telecommunications infrastructure, development of renewable energy solutions, and advancements in healthcare technologies. Major trends in the forecast period include a rise in integration with AI applications, an increase in demand for power-efficient designs, growth in automotive electronics, expansion in IoT connectivity, advancements in sensor technologies, a shift towards miniaturization, and a heightened focus on cybersecurity features.
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Market Drivers and Trends:
The increasing automation in the automotive industry is expected to propel the growth of the general-purpose analog integrated circuits (ICs) market going forward. Automation in the automotive industry refers to the adoption of advanced technologies and robotics to automate tasks traditionally performed by human operators, aiming to enhance operational efficiency, safety, and production capabilities. The automobile industry is becoming more automated due to advances in artificial intelligence, machine learning, and robotics, which enable higher precision, faster production rates, lower labor costs, and increased car quality and durability. General-purpose analog integrated circuits (ICs) aid in automation within the automotive industry by providing crucial functionalities such as processing sensor signals, managing power distribution, and controlling automated systems such as autonomous driving, adaptive cruise control, and advanced driver assistance systems (ADAS). For instance, in July 2023, according to a report published by the International Federation of Robotics, a Germany-based organization for robotics research, the annual robot installation globally in the automotive industry increased from 84,000 units in 2020 to 119,000 in 2021, with industrial robots ranging at 42%. Therefore, the increasing automation in the automotive industry is driving the growth of the general-purpose analog integrated circuits (ICs) market.
Major companies operating in the general-purpose analog integrated circuit (IC) market are developing advanced IC's such as low-dropout (LDO) voltage regulators to minimize power consumption, which is critical for extending the operational lifespan. A low-dropout (LDO) voltage regulator is a type of linear regulator that produces a stable output voltage with a low voltage drop between the input and output, making it ideal for applications that require close alignment of input and output voltages, such as portable electronics and low-power equipment. For instance, in January 2023, Nisshinbo Micro Devices Inc., a Japan-based semiconductor company, launched the NR1600 series. These regulators are designed to offer consistent output voltages with little dropout, making them ideal for various consumer and industrial applications requiring precision voltage regulation. The NR1600 series has features such as configurable output voltage settings, soft-start time modification, power-good monitoring, and several trim packaging options to meet various application requirements.
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Major Key Players of the Market:
Panasonic Corporation, Broadcom Inc., Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation (ON semi), Microchip Technology Incorporated, Skyworks Solutions Inc., ROHM Co. Ltd., Vishay Intertechnology Inc., Nexperia B.V., Diodes Incorporated, Sanken Electric Co. Ltd., MaxLinear Inc., Semtech Corporation, Exar Corporation, Toshiba Electronic Devices & Storage Corporation
General-Purpose Analog Integrated Circuit (IC) Market 2024 Key Insights:
• The general-purpose analog integrated circuit (IC) market size is expected to see strong growth in the next few years. It will grow to $38.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Impact Of Automation In The Automotive Industry On General-Purpose Analog Integrated Circuits (ICs) Market
• Advances In Low-Power Technologies Focus On Low-Dropout (LDO) Voltage Regulators
• North America was the largest region in the general-purpose analog integrated circuit (IC) market in 2023
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