The new report by Expert Market Research titled, ‘Global Application Specific Integrated Circuit Market Size, Share, Analysis, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the application specific integrated circuit market, assessing the market based on its segments like product type, application and major regions.
The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.7%
Advances in application specific integrated circuit technologies have facilitated the introduction of next-generation designs, which include embedded security, customised sensor and control interfaces, wired and wireless connectivity, AI and machine learning, functional safety, high-voltage circuits, and embedded memory.
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Thus, rising demand for application specific integrated circuits across sectors such as medical, industrial (automotive, telecommunications, and electrical), aeronautics, consumer electronics, space & defence, transportation, and IoT is likely to drive market growth.
Application Specific Integrated Circuit Industry Definition and Major Segments
ASICs, or Application Specific Integrated Circuits, are custom integrated circuits designed for a specific application or usage. Typically, an ASIC design is conducted for a large-scale product. Application specific integrated circuits may incorporate a sizable portion of the required electronics on a single integrated circuit.
Because application specific integrated circuits are expensive to design, they are typically found in high-volume devices (such as cell phones and applications of the like). However, if volume is sufficient, application specific integrated circuits may assist in lowering costs for applications. Additionally, the application specific integrated circuit design can be adjusted to meet unique product needs, and the number of additional components can be greatly reduced because the majority of the design can be contained in a single integrated circuit.
The global application specific integrated circuit market can be segmented on the basis of product type and application.
Based on product type:
- Full Custom ASIC
- Semi-Custom ASIC
- Programmable ASIC
Based on application:
- Consumer Electronics
On the basis of regional markets, the segmentation of the application specific integrated circuit industry includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Application Specific Integrated Circuit Market Trends
Significant expansion in the electronics industry is one of the primary reasons contributing to the market’s positive outlook. ASICs are widely used in consumer electronics such as smartphones, smartwatches, digital cameras, televisions, computers, game consoles, and tablets because they can combine analogue and digital capabilities from the device’s small and medium-sized chips. Additionally, the shrinking of semiconductors for the purpose of manufacturing more compact, lighter, and portable gadgets contributes to the market’s growth.
Additionally, numerous technological breakthroughs, such as the integration of linked devices with the Internet of Things (IoT), big data, cloud computing, and artificial intelligence (AI), all contribute to growth. These technologies aid in a variety of tasks, such as environmental monitoring, automobile pollution management, and personal digital assistant operation. Additional factors, such as the growing adoption of mechatronics across industries and substantial research and development (R&D) activities, are expected to fuel the market’s growth.
Key Market Players
The major players within the market are Broadcom, Comport Data, FUJITSU, Infineon Technologies AG, Intel Corporation, OmniVision Technologies, Inc., Semiconductor Components Industries, LLC and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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