Application Specific Integrated Circuit Market will witness an increase in demand on a global level at a CAGR of 5.2%

The global application specific integrated circuit market size is valued at USD 127 Billion in 2022 and is expected to grow at a CAGR of 5.2% and reach an estimated value of USD $190.02 in 2030. The market is expected to witness an increase in demand at a global level.

Global Application Specific Integrated Circuit Market: Overview
An ASIC is an integrated circuit categorically created for a specific application or purpose. These Integrated Circuits (ICs) are used to integrate all the electronic components on one chip. Later, these circuits can integrate the functions of several medium-sized and small sized integrated circuits that separately tackle some functions on a single chip, so as to assimilate the whole system on a single chip to recognize the system requirements.

These ICs are used in different industries such as automotive, electrical and electronics, telecommunication and medical. The increased demand for tablets and smartphones will hike the growth of the market for application-specific integrated circuits over the forecast period.

Key Market Trends: Determinants and Challenges
Application-specific integrated circuits help meet the requirements of high bandwidth, small size and light weight, low cost, and long battery life in next-generation smartphones. Demand for ICs will also increase with the advent of smart devices and electrical products such as TVs, digital cameras, laptops, wearables and game consoles that offer advanced technologies such as flat panel displays, touch screen monitors and displays, and Bluetooth capabilities.

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In addition, the demand for electronic components with ASICs has increased significantly over time as the adoption of mechatronics in industrial and automotive applications continues to grow. On the other hand, factors such as high custom circuit manufacturing costs, circuit design costs, and functional reliability issues are expected to hinder the growth of the application-specific integrated circuit market over the years.

The critical use of application-specific integrated circuits in industrial applications such as the thermal controller and 8-bit microcontrollers is having a significant impact on the application-specific integrated circuit market.

Integration of these chips replaces traditional components including solder joints and Printed Circuit Board (PCB) traces with one IC, which helps in reducing the chances of failure and provide highly reliable industrial systems.

Segmental Analysis of Global ASIC Market:
Based on Product Type
• Full Custom ASIC
• Programmable ASIC
• Semi-Custom ASIC
• Array Based
• Cell Based
Cell based ASIC held the biggest share of for its electrical features and digital logics such as inductance and capacitance. These features offer improved electrical performance and high density of the component. The cell-based ASICs can be used in any product, heedless of the design complexity as it has internet protocol cores, and advanced integrated static random access memory which helps in smooth functioning of the system.

Based on Application Outlook
• Industrial
• Consumer Electronics
• Automotive
• Telecommunication
The consumer electronics vertical may be expected to offer compelling growth opportunities for all the players involved in the value chain on the back of the increasing use of ASICs within phones, laptops and tablets all around the world.
These ASICs offer various advantages including low power consumption, small size, IP security and higher bandwidth, that will lead to an increased adoption of the ICs in the consumer electronics industry.

Based on Region
EUROPE
Germany
France
United Kingdom

NORTH AMERICA
Canada
United States

ASIA PACIFIC
India
China
Japan
Singapore
South Korea

LATIN AMERICA
Mexico
Brazil

MIDDLE EAST & AFRICA

North America held the market shar. The growth is associated to the significant presence of major players in the region. In the current market scenario, the U.S. dominates the region. High development in consumer electronics products, electric and hybrid vehicles and healthcare electrical appliances can be seen in the U.S. as it is the early adopter of the ASIC technology. North America has been a home to a lot of ASIC based producers.

Competitive Landscape:
Application specific integrated circuit providers focus on development and research which in turn would help increase their presence in the market.
Major Companies leading the ASIC Market:
• Infineon Technologies AG
• OmniVision Technologies
• Inter Corporation
• Seiko Epson Corporation
• Socionext America Inc.
• TEKMOS Inc.
• Semiconductor Components Industries, LLC

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Major Developments:
• June 2020- IC'S Alps a France based ASIC based designer and supplier lunched a dedicated website for integrated specific circuit, through which the company will provide ASIC content, use cases and news.
• July 2020- Marvel Technology Group Ltd. also announced their launch of ASIC as a service. The company will offer SoC services in-line with Marvels current business.

Major Questions answered in the report:
• What is the market size and growth rate of Global ASI market?
• Which major companies are operating in the ASIC market?
• What are the challenges in the growth of ASIC Market?

Key Takeaways from the Report:
• Growth opportunities and Trends of the ASIC Market.
• Market overview and analysis.
• Market intelligence enables effective decision making.
• Market growth is valued at a CAGR of 5.2%, where North America accounts for the largest share of the industry growth.

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