Application Specific Integrated Circuit (ASIC) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2024
Albany, NY -- (SBWIRE) -- 03/28/2018 -- Application specific integrated circuits are a type of tailor made integrated circuits that are meant and designed for a particular use or application. Conventionally, the design of such kind of circuits are taken up for a product that is going to be mass produced or will have huge volumes in production. The application specific integrated circuits may contain a majority portion of the electronics required on a single integrated circuit. Since the cost of application specific integrated circuits is high, they are only meant for products that are being produced on a large scale.
Even though the cost of application specific integrated circuits is high, they are used in various applications where production volumes are high. With the aid of application specific integrated circuits, the specific requirements of any product can be met and this can be achieved by crafting the circuits in such a manner that much of the design is contained in a single application specific integrated circuit, thereby reducing the number of additional components required in that product. Due to this advantage that application specific integrated circuits hold, they are used in industries where large number of products are produced on a mass scale, such as cell phones and other applications. Such type of circuits are also used for other consumer electronics products, where the production volume is high and for products that are used on a large scale.
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The earlier versions of application specific integrated circuits had the capability of addressing just logic functions. However, with the advancements in technology, such type of circuits can now integrate both analogue and logic functions. Due to this, the application specific integrated circuits are now able to constitute a complete mechanism on a single chip, and therefore the requirements of other type of components is eliminated. This reduces the overall cost of a device.
Application specific integrated circuits have been designed for specific applications in smart phones that are not limited by the power and price of such devices. Currently, these type of circuits are being specifically produced for inexpensive, small, power-sensitive consumer devices such as smart phones and tablets. There is a huge demand for smartphones all over the world and application specific integrated circuits are being used in flat panel displays, including web browsing, email, voice memo, answering machines, two-way paging, wireless PDA and global positioning system (GPS). Technologically advanced application specific integrated circuits are the key to fulfilling the important requirements of the next generation smart phones in the form of smaller size and weight, low cost, high-bandwidth, and long battery life.
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Apart from this, popular electronic devices such as smart phones and tablets are becoming outdated within a short time duration. This is happening due to the fact that the smartphone manufacturers are launching new models in a very short time duration. Due to this, the replacement cycle of smart phones has shrunk to less than a year. Earlier, the replacement period was much lengthier, as fewer new devices and versions were introduced in the market. However, presently, there is a high demand for application specific integrated circuits in newly launched devices. These factors are boosting the global application specific integrated circuit market.