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Application Specific Integrated Circuits (ASIC) Global Market Report 2022: Rising Automotive Industry Propels Sector Growth

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Dublin, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The "Application Specific Integrated Circuits (ASIC) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.

The report offers strategic insights into the global ASIC market along with the market size and estimates for the duration 2020 to 2030.

ASICs are being seen as a potential milestone in the overall electronics industry. ASICs offer several advantages over general integrated circuits. Since ASIC eliminates the need for most of the additional components, the overall size of the system is reduced significantly. In addition, due to their small size, ASIC require low power with high speed as compared to the general ICs. Moreover, there are no timing issues as the system comprises single-chip designs. As a result, ASICs have witnessed profound penetration across different applications, over the period of time.

Another major factor propelling the market growth is the consistently rising consumer electronics and telecommunication industry worldwide. Over the past few years, mobile devices such as smartphones, tablets and laptops have witnessed immense penetration worldwide. In addition, the advent of smart technology has led to profound advancement across the home appliances and other consumer electronics.

Similarly, the ASIC market is strongly driven by the rising automotive industry, especially in the Asia Pacific region. Growing use of electronics in the industry would further spur the demand for ASICs during the forecast period.

Due to continued growth anticipated across the consumer electronics and automotive industry, the ASIC market would continue to demonstrate healthy growth throughout the forecast period. However, the market growth is remarkably hampered due to high cost of design and manufacturing required for these ICs.

Further, the demand for ASICs in the automotive sector is primarily supported by the increasing use of electronics across different automotive modules. The most significant factor fueling the segment growth is the steadily rising automotive industry across the globe. With the rising discretionary income of people worldwide, especially in the Asia Pacific region, the industry is estimated to continue witnessing steady growth in the coming years. This would significantly fuel the overall ASIC market in the coming years.

As of 2021, the ASIC market worldwide is dominated by the Asia Pacific region. The segment contributed to more than forty percent of the total revenue generated in 2019. The most significant factor contributing to the large revenue share is huge automotive and consumer electronics industry in the region. The market here is majorly governed by China, Japan, South Korea and some of Southeast Asia countries. India too is increasingly becoming lucrative for ASICs due to rising penetration of automotive and electronics manufacturing industry here.

Europe and North America follow Asia Pacific, in terms of revenue, in the global ASIC market. Europe comprises large number of ASIC, thereby supporting the market growth. In addition, presence of a strong automotive and consumer electronics industry here is another prominent factor responsible for strong market growth. Nevertheless, Asia Pacific is estimated to retain its dominant position in the market throughout the forecast period.

Market Segmentation
Products

  • Full Custom Design ASIC

  • Semi-custom Design ASIC

  • Programmable ASIC

Application

  • Consumer Electronics

  • Automotive

  • Telecommunication

  • Healthcare

  • Industrial

  • Others

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Application Specific Integrated Circuits (ASIC) market?

  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?

  • Estimated forecast and market projections up to 2030.

  • Which segment accounts for the fastest CAGR during the forecast period?

  • Which market segment holds a larger market share and why?

  • Are low and middle-income economies investing in the Application Specific Integrated Circuits (ASIC) market?

  • Which is the largest regional market for Application Specific Integrated Circuits (ASIC) market?

  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

  • Which are the key trends driving Application Specific Integrated Circuits (ASIC) market growth?

  • Who are the key competitors and what are their key strategies to enhance their market presence in the Application Specific Integrated Circuits (ASIC) market worldwide?

Key Topics Covered:

1. Preface

2. Executive Summary

3. Application Specific Integrated Circuits (ASIC) Market: Competitive Analysis

4. Application Specific Integrated Circuits (ASIC) Market: Macro Analysis & Market Dynamics

5. Application Specific Integrated Circuits (ASIC) Market: By Products, 2020-2030, USD (Million)

6. Application Specific Integrated Circuits (ASIC) Market: By Application, 2020-2030, USD (Million)

7. North America Application Specific Integrated Circuits (ASIC) Market, 2020-2030, USD (Million)

8. UK and European Union Application Specific Integrated Circuits (ASIC) Market, 2020-2030, USD (Million)

9. Asia Pacific Application Specific Integrated Circuits (ASIC) Market, 2020-2030, USD (Million)

10. Latin America Application Specific Integrated Circuits (ASIC) Market, 2020-2030, USD (Million)

11. Middle East and Africa Application Specific Integrated Circuits (ASIC) Market, 2020-2030, USD (Million)

12. Company Profile

Companies Mentioned

  • NXP Semiconductors NV

  • Texas Instruments Inc.

  • STMicroelectronics

  • Infineon Technologies AG

  • Renesas Electronics Corporation

For more information about this report visit https://www.researchandmarkets.com/r/vfir3j

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