Research Nester’s recent market research analysis on “Application Specific Integrated Circuit Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global application specific integrated circuit market in terms of market segmentation by type, application, end-user, and by region.
Growing Users of Consumer Electronics Worldwide to Promote Global Market Share of Application Specific Integrated Circuit
Due to the benefits of employing field-programmable gate arrays (FPGAs) for logic solutions in aerospace applications, the industry is expanding. It offers programmable devices with cutting-edge IP-like microprocessors, memory interfaces, and remarkable performance capabilities. This may increase the appeal of using these programmable electronics in aircraft applications. ASIC chips are also utilized in marine or aviation security for identification verification, confirming that the bearer has passed the security assessment. In 2021, it was estimated that the aerospace and military aircraft market would be valued at more than 255.8 billion US dollars. This facilitates the integration of all electrical components into a single chip.
Furthermore, application-specific integrated circuit (ASIC) enable complete system integration, ensuring adherence to system specifications, by combining multiple smaller and medium-sized integrated circuit functionalities onto a single chip. Because of this, these integrated circuits are frequently utilized across numerous sectors.
Some of the major growth factors and challenges that are associated with the growth of the global application specific integrated circuit market are:
Growth Drivers:
- Surge in Need for ASIC In Automotive Industry
- Rising Technological Developments Will Open Up New Market Opportunities
Challenges:
Creating integrated circuits specifically for a given need is expensive. Customization can be used on a variety of levels to save expenses. The market for application-specific integrated circuits is therefore expected to grow slowly over the next few years as a result of problems with functional reliability, the high cost of building custom circuits, and the challenges associated with circuit development.
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By end-user, the global application specific integrated circuit market is segmented into consumer electronics, automotive, telecommunication, healthcare, aerospace, media & entertainment, and industrial. The consumer electronics segment is to garner the highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. All stakeholders in the value chain should benefit from these attractive growth prospects in this vertical, primarily as a result of the growing worldwide usage of application-specific integrated circuits in laptops, tablets, and smartphones. Statista estimates that 1.28 billion tablets will be in use worldwide by 2023. The average amount of time tablet users in the US spent using the device in 2022 was 7.42 minutes. ASICs' many advantages—including lower power consumption, IP security, compact size, and higher bandwidth—are making them more and more well-liked in the consumer electronics industry. The rapid advancement of electronic devices has also enabled more stability and energy efficiency, which is propelling the growth of the ASIC industry. Beyond the consumer electronics market, these integrated circuits (ICs) have extensive applications in the telecommunications, industrial, and healthcare domains.
By region, the Europe application specific integrated circuit market is to generate the highest revenue by the end of 2036. This growth is anticipated as ASICs are being included in systems more frequently as a result of technical improvements like temperature sensors and power management in gadgets like smartphones, home appliances, wireless headphones, and speakers. In addition, the UK application-specific integrated circuit market was developing at the quickest rate in the European Region, while the German market had the most market share.
This report also provides the existing competitive scenario of some of the key players of the global application specific integrated circuit market which includes company profiling of Faraday Technology Corporation, Infineon Technologies AG, ASIX Electronics, OmniVision Technologies, Inc., Semiconductor Components Industries, LLC, Tekmos Inc., Marvell, IC’Alps, Samsung Electronics, and others.
