Standard Logic Devices Market to reach US$92,695.7 mn by 2025
Other key players in this industry are STMicroelectronics N.V, Toshiba Semiconductor and Storage, ROHM Semiconductor, Microchip Technology Inc., NXP Semiconductors N.V., Maxim Integrated Products Inc., and ON Semiconductor. Moreover, new players are likely to enter the market in the coming years, as the demand for standard logic devices is rising significantly from a variety of industries.
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According to Transparency Market Research (TMR), the global standard logic devices market had a revenue valuation of close to US$51.2 bn in 2016 and is likely to rise to more than US$92 bn over the 2017-2025 forecast period.
The standard logic devices market is expected to exhibit a strong 6.9% CAGR in the forecast period, and is likely to be dominated by Asia Pacific markets, with booming Middle Eastern economies also showing significant promise.
Rising Demand for Automated Driving Boosts Standard Logic Devices Market
Rising demand for automobiles that sport automated driving support systems, along with the growing demand for electrical equipment in automobiles, will further propel the growth of the standard logic devices market. In addition to this value creation by integrating sensors, the rising use of actuators and artificial intelligence (AI) in various industries is promoting the growth of the standard logic devices market.
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Furthermore, in the coming years, the market for gate type IC is expected to experience faster growth. This is due to the rising adoption of high and ultra-high-level-integration integrated circuits in the smartphones and gaming industries.
This ongoing trend is expected to boost the standard logic devices market over the coming years, as these industries have been boosted by the presence of a solid consumer demographic in urban centers. Rising demands as per smartphone performance are thus likely to remain a key driver for the global standard logic devices market in the coming years.
Inability to Reprogam Fixed Logic Devices Hampers Standard Logic Devices Market
The standard logic devices market also faces certain drawbacks. A major factor restraining the growth of this market is the inability of fixed logic devices to be programmed again. Standard logic devices work on fixed programs, with which the logic device is configured at the time of designing/manufacture.
Once a logic device is implemented in a circuit, it cannot be programmed again. This is expected to have a negative impact on the market for individual standard logic devices.
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