Global Application Specific Integrated Circuit Market Report, Ongoing Trends, Growth Factors, Negative Factors, Opportunities, Untapped Markets, Strategies and Developments, Product Segments, and Forecast 2020 – 2029

Application Specific Integrated Circuit: Overview

“The global Specific Integrated Circuit Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Applications specific integrated circuit, commonly known as a chip or microchip, is designed for the purpose of aiding devices to optimize electrical energy and utilize it to perfection.  These chips are of prime interest to various enterprises and researchers as growing influx of electronic devices are expected to engage in more complex operations every day.

These devices present benefits such as to gain maximum traction while operating an electronic device, as hypothetically, these devices can operate independently to produce more intelligent and intuitive devices. Application-specific integrated circuits are engineered and designed on the basis of required customization and for a specific application. The design of these circuits are mainly used for mass production of a product.

Dynamics:Global Application Specific Integrated Circuit Market

Growing demand for smartphones, tables, and other personal hand-held devices among individuals is a major factor driving growth of the global application specific integrated circuit market. In addition, rapidly growing end-use industries across various countries, coupled with expanding scope of applications of application-specific integrated circuits in various industries such as telecommunication and automotive are other factors expected to fuel growth of the global market.

SoC (System-on-chip) applications in the target market is expected to result in growth of the application specific integrated circuit market in the near future. Growing consumer electronics industry, and increasing adoption of web browsing, answering machine, two-way paging, wireless PDA, Global Positioning System (GPS), and e-mail is also projected to support growth of the target market.

Application-specific integrated circuits are proving to be an ideal substitute for traditional FPGA and are being considered as an extremely efficient alternative, which is also a key factor expected to result in higher demand for these integrated circuits. However, uncertain nature of innovation, narrow focus on cost-savings and efficiency are factor that could hamper growth of the target market. in addition, high cost of production and thus the final product is another factor expected to drive growth of the global market.

Segment Insights: Global Application Specific Integrated Circuit Market

Insights, by End-use Industry:

The consumer electronics industry is expected to record highest revenue share in the target market due to higher adoption of the products by this industry in order to manufacture smartphones, tablets, etc.

Regional Insights:Global Application Specific Integrated Circuit Market

North America market is expected to record highest revenue share in the global market owing to rapid growth in the end-use industries and rising inclination towards consumer electronics among individuals in countries in North America. In addition, concentration of various major companies based in the US including Qualcomm, Intel and others is another factor expected to drive North America market growth. The Asia Pacific market is projected to record highest revenue growth rate over the next 10 years, due to robust presence of semiconductor companies in countries including China and Japan in the region.

Industry News:

In July 2019, a US-based software company – VMware, Inc. – announced acquisition of hardware-agnostic technological company – Bitfusion.io, Inc. This acquisition was made to accelerate VMware’s plan to support its Artificial Intelligence- and machine learning-based workloads by virtualizing hardware accelerators.

Global Application Specific Integrated Circuits Market Segmentation:

Segmentation by Type:

• Full Custom ASIC
• Semi-Custom ASIC
• Standard Cell Based ASIC
• Gate Array Based ASIC
• Programmable ASIC

Segmentation by End-use Industry:

• Consumer Electronics
• Telecommunication
• Healthcare
• Industrial
• Automotive

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa