Press release
Analog IC Market Stood at US$ 80 Bn by 2024
Product Market grow exponentially at 6.2% CAGR to reach US$ 79.06 Bn by the end of 2024.
However, the market of Analog IC product was valued at US$ 48.73Bn in 2016.
Texas Instruments, Inc. is being observed as the major manufacturer of analog IC products in the world. Along with Infineon Technologies AG, Analog Devices Inc., STMicroelectronics NV, and Skywork Solutions, Inc., these companies will continue to equally account for 40% share of global analog IC market revenues by 2024. NXP Semiconductors NV offers performance-based analog IC products. US-based ON Semiconductor Corporation is also a leading player in the global analog IC market, owing to its reliability for catering to applications such as power management and logic & timing. Maxim Integrated Products, Inc., Qualcomm Technologies Inc. and Renesas Electronics Corporation are also prominent manufacturers of analog IC products, profiled in this report.
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Fastest Growing Analog IC Market
Global analog IC Market will witness tough fight from Asia pacific (APAC) countries in terms of regional growth. Revenue from every other IC analog product that will be sold in the globe will be accounted by APAC region. The APAC market is anticipated to beat over US$ 40 Bn valuation.The second most dominant will be North America, but it’s likely to incur revenue growth at 5% CAGR. Latin America, Europe and the Middle East & Africa will together value for less than 25% of global analog IC market revenue by 2017 and beyond.
A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/4799
Ordinary Integrated Circuits (IC) products are in demand in various industrial verticals. Technological advancements today can build IC’s can be designed as per programing application it serves. For ordinary (generally purpose) IC’s accounted 40% revenue share in 2016, global analog IC revenues stemming from sales of such products are ordained to experience decline. Corresponding to dip sale of general purpose IC’s the industrial demand for analog IC’s will be waving towards application specific IC products. The report has projected that by 2024-end, revenues originating from global sales of app-specific IC products & services will be moving towards the US$ 50 billion yardstick. Soaring at nearly 7% CAGR, application-specific IC products will be accounting over 60% value share of global analog IC market by the end of assessment period.
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Higher Demand for Analog IC in Automotive Applications
Application of analog IC products will continue to spanned across industries such as communications, healthcare, manufacturing, consumer electronics, and automotive, among others. Analog IC products are gaining adoption in communication industry by playing an integral role in multiple device connectivity. Massive use of analog IC products in production of multimedia devices, global consumer electronics industry is projected to account for more than one-third of global market revenues over the forecast period. Key findings from the report indicate that automotive applications of analog IC products are expected to gain traction. Throughout the projection, automotive applications are estimated to account for global revenues worth over US$ 12 billion.
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