Newark, April 11, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global application-specific integrated circuit market is expected to grow from USD 21.19 billion in 2021 to USD 39.45 billion by 2030, at a CAGR of 7.15% during the forecast period 2022-2030.
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The growing demand for smartphones & tablets and increasing demand for smart customer devices are anticipated to expand the demand for application-specific integrated circuit during the projection period. Moreover, the growing usage of mechatronics in industrial & automotive applications is also helping to propel market growth. However, the high price of manufacturing customized circuits, functional reliability difficulties, circuit design costs, and ASICS vulnerability towards security attacks/cyber-attacks are restraining market growth. Furthermore, the ongoing technological advancements in the field of integrated circuits are opportunities for market growth.
Competitive Strategy
To enhance their market position in the global application-specific integrated circuit market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in May 2022, Onsemi introduced a triad of USB Power Delivery format products. The new controllers and drivers integrate novel characteristics that significantly lower the material scope of high-efficiency AC/DC power supplies, especially for load ranges greater than 100W.
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Market Growth & Trends
The growth of the application-specific integrated circuit market is driven by the rapidly increasing end-use industries across different countries and the increasing adoption of web browsing. Moreover, the significant growth in the electronics industry is the market growth trend. Further, the various technological advancements like integrating connected devices with Internet-of-Things (IoT), big data, artificial intelligence (AI), and cloud computing are the driving factor of the market growth. In addition, the application-specific integrated circuit is widely utilized in consumer electronics, like digital cameras, smartphones, laptops, smartwatches, televisions, gaming consoles & tablets, as it can integrate both digital and analog functions of small- & medium-sized chips of the instrument. However, the miniaturization of semiconductors to manufacture lighter, compact, and portable tools is the driving factor of the market growth. Also, the growing adoption of mechatronics across enterprises and extensive R&D activities is helping to promote market growth.
Key Findings
• In 2021, the semi-custom segment dominated the market with the largest market share of 26.17% and a market revenue of 5.54 billion.
The product type segment is divided into semi-custom, full-custom, gate array, standard cell, and programmable. In 2021, the semi-custom segment dominated the market with the largest market share of 26.17% and a market revenue of 5.54 billion. This growth is attributed to an autonomous or smart vehicle's advanced sensor capability.
• In 2021, the static RAM segment dominated the market with the largest market share of 25.29% and market revenue of 5.35 billion.
The programming technology is divided into anti-fuse, EEPROM, static RAM, EPROM, and others. In 2021, the static RAM segment dominated the market with the largest market share of 25.29% and market revenue of 5.35 billion. This growth is attributed to the increasing demand for faster cache memory.
• In 2021, the electronics & semiconductors segment dominated the market with the largest market share of 22.33% and market revenue of 4.73 billion.
The end-user segment is divided into electronics & semiconductors, automotive, IT & telecommunication, aerospace, healthcare, and others. In 2021, the electronics & semiconductors segment dominated the market with the largest market share of 22.33% and market revenue of 4.73 billion. This growth is attributed to the increasing disposable income and rising demand for Integrated Circuits (ICs).
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Report coverage & details:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 39.45 Billion |
| Growth Rate | CAGR of 7.15 % |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The technological developments and applications across sectors |
| Key Market Drivers | The growth of the customer electronics industry |
Regional Segment Analysis of the Application Specific Integrated Circuit Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region occurred as the largest global application-specific integrated circuit market, with a market share of 43.46% and a market value of around 9.20 billion in 2021. North America currently dominates the application-specific integrated circuit market due to the rapid growth in the end-use industries. Moreover, the rising inclination toward consumer electronics among individuals is also boosting market growth in this region. Further, the Asia Pacific region is expected to show the fastest CAGR of 9.08% over the projection period. This growth is attributed to the growing use of smartphones. In addition, the robust presence of semiconductor corporations in countries including China & Japan is also driving market growth in this region.
Key players operating in the global application specific integrated circuit market are:
• ON Semiconductor
• AnySilicon
• Qualcomm, Inc.
• Maxim Integrated Products Inc.
• Sigenics Inc.
• Analog Devices
• Calogic LLC
• Samsung Semiconductor
• Broadcom Limited
• Toshiba
• Fujitsu Microelectronics Inc.
• IBM Microelectronics
• STMicroelectronics
• Advanced Linear Devices, Inc.
• NXP Semiconductors NV
• Renesas Electronics Corporation
• Infineon Technologies AG
• Texas Instruments, Inc.
• Linear Technology Corporation
• Calogic LLC
• Intel Corporation
• PREMA Semiconductor GmbH
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global application specific integrated circuit market based on below mentioned segments:
Global Application Specific Integrated Circuit Market by Type:
• Semi-Custom
• Full Custom
• Gate Array
• Standard Cell
• Programmable
Global Application Specific Integrated Circuit Market by Programming Technology
• Antifuse
• EEPROM
• Static RAM
• EPROM
• Others
Global Application Specific Integrated Circuit Market by End-User:
• Electronics & Semiconductors
• Automotive
• IT & Telecommunication
• Aerospace
• Healthcare
• Others
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About the report:
The global application specific integrated circuit market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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