Application Specific Integrated Circuit Market Will Reach 32 Billion Posting A 9% CAGR From During the Anticipated Period 2018-2023.
Pune, India -- (SBWIRE) -- 12/06/2018 -- Market Highlights
The Application Specific Integrated Circuit (ASIC) market is growing persistently recently mainly due to the burgeoning crypto-currency market and the prominence of ASIC in crypto-currency mining machines. ASIC also witnesses a significant demand from another rapidly increasing ICT market which is escalating the global Application Specific Integrated Circuit Market to the exponential heights on the global platform.
Acknowledging the vast growth this market is garnering currently, Market Research Future (MRFR) in its recently published study asserts that the global application specific integrated circuit market will reach 32 BN by 2023 posting a 9% CAGR from during the anticipated period (2017-2023).
Additional factors defining the landscape of the ASIC market include wide adoption of smartphones and other wearable devices, worldwide, the emergence of smart automobiles, industrial machinery, and infrastructure. Moreover, the proliferation of the Internet of Things (IoT) industry propels the market growth, adding billions of new units on the Internet.
Furthermore, new units including data storage devices, sensors, computers, and related infrastructure are explaining the augmented demand these electronic components perceive, with their ability to interact with each other integrating into software systems and networks.
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On the flip side, volatility in the price and availability of raw materials is impeding the market growth of ASIC, creating a huge demand & supply gap. Nevertheless, advancement in technology is expected to support the market growth during 2017 – 2023.
The advancements in application specific integrated circuit are the main driving force that the consumer electronics sector has raised to unparalleled level today. The mobile phone is one of such obvious examples; similarly sensors, automotive and semiconductors are among the others. Simultaneously, sensors and opportunities for semiconductors are appearing in many other applications, such as biomedical sensors and drug delivery systems etc.
Some of the eminent leaders of the market include Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), STMicroelectronics N.V (Switzerland), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), Maxim Integrated Products Inc. (U.S.), ON Semiconductor (U.S.), Analog Devices, Inc.(U.S.), NXP Semiconductors N.V (The Netherlands), Linear Technology Corporation (U.S.), and Qualcomm, Inc. (U.S.).
Application Specific Integrated Circuit Market – Segmentation:
MRFR has segmented its analysis into three key dynamics for enhanced understanding.
By Product Types: Full Custom Design, Semi-Custom Design (standard cell-based and gate array-based ASIC, others.), and Programmable ASIC among others.
By Applications: IT & Telecommunication, Industrial, Automotive, and Consumer Electronics among others.
By Regions: North America, Europe, APAC and Rest of the World.
Application Specific Integrated Circuit Market – Regional Analysis:
North America market of Application Specific Integrated Circuit is dominating the global market attributing to the huge demand of security system and business intelligence. The region is followed by Europe region.
The Asia Pacific region, on the other hand, is emerging as the fastest growing market attributed to the augmented market penetration of smartphones and the demand for energy-efficient devices. China, India, and Japan are driving the regional market growth owing to the growing penetration of high-tech gadgets, increased requirement of miniaturization, developments of auto electronics, economic development, growing digitization, rapid industrialization among other factors.
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Application Specific Integrated Circuit Market – Competitive Analysis:
The global ASIC market appears to be highly competitive, characterized by the presence of a number of small &big players. Matured companies incorporate acquisition, partnership, collaboration, technology launch, and expansion in order to gain a competitive advantage in this market and thus, maintain their market position.
Managing the cost of raw materials remains a top priority for manufacturers continuing to be concerned about coping with these pricing fluctuations, and many firms are seeking new ways to mitigate risks associated with raw materials instability.
Industry/ Innovation /Related News:
October 03, 2018 – Xilinx, Inc. (US), a leading global supplier of programmable logic devices and semiconductors announced the launch of its next-generation versal acceleration chip. The new chip is a 7nm Versal product, based on the Adaptable Computing Acceleration Platform such as ASIC. At this launching event, Xilinx also introduced its first production PCIe board, called Alveo, which is based on acceleration platforms for AI and other high-performance applications and is already thriving in the market.
September 21, 2018 – Bitmain Technologies Ltd. (China), a Bitcoin mining colossus and the world's first consumer-grade 16nm ASIC miner unveiled its next-generation ASIC chip which will soon be implemented into its new "Antminer" crypto mining machines,
September 27, 2018 – Squire Mining (Canada), an ASIC mining chips manufacturer announced its partnership was with electronics giant - Samsung Electronics (South Korea). According to the contract, Squire Mining will design the cryptocurrency mining devices, and Samsung will build them.
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