Overview and Scope
An application specific integrated circuit (ASIC) is a circuit whose connection layout has been optimized only for a particular application. ASIC can function faster than a programmable logic device or a regular logic integrated circuit since it is designed to do only particular task.
Sizing and Forecast
The application specific integrated circuit market size has grown strongly in recent years. It will grow from $16.42 billion in 2023 to $17.62 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to cost efficiency and performance improvement, growing complexity of applications, market expansion in electronics and communication sectors, shrinking design cycles, increasing integration in consumer electronics.
The application specific integrated circuit market size is expected to see strong growth in the next few years. It will grow to $23.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to rise in iot devices and edge computing, automotive electronics evolution, demand for energy-efficient solutions, increased complexity in semiconductor design, collaborations and partnerships. Major trends in the forecast period include emergence of 5g technology, rapid prototyping and time-to-market, security concerns and solutions, advancements in process technologies, increasing demand for customization.
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Segmentation & Regional Insights
The application specific integrated circuit market covered in this report is segmented –
1) By Product: Full Custom ASIC, Semi-Custom ASIC, Programmable ASIC
2) By Application: Wireless Communication, Inferencing Applications, Acceleration And Storage, Video And Broadcast, Process And Quality Control, Security And Surveillance, Electrical Distribution
3) By End-Use Industry: IT And Telecommunication, Industrial, Media And Entertainment, Automotive, Healthcare, Aerospace, Consumer Electronics, Other End-users
North America was the largest region in the application specific integrated circuit market in 2023. Asia-Pacific is expected to be the fastest-growing region in the application specific integrated circuit market report during the forecast period. The regions covered in the application specific integrated circuit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing adoption of cryptocurrencies is expected to propel the growth of the application specific integrated circuit market going forward. A cryptocurrency is a type of digital currency that is produced utilizing encryption methods. With the use of encryption technology, cryptocurrencies serve as both a medium of exchange and a virtual accounting system. Application specific integrated circuit devices are used in mining cryptocurrency by using heavy and advanced computing, Hance, the adoption of cryptocurrencies expands the market. For instance, according to the International Monetary Fund, a US-based leading United Nations financial agency, and an international financial institution, in 2021, the cryptocurrency market value nearly tripled to reach an all-time high of $2.5 trillion. Therefore, the growing adoption of cryptocurrencies is driving the growth of application specific integrated circuit market.
Key Industry Players
Major companies operating in the application-specific integrated circuit market are focused on developing innovative products, such as buck regulators, to gain a competitive edge in the market. A buck regulator, also known as a step-down converter, is a DC-to-DC converter that steps down the voltage from its input to its output. For instance, in September 2020, Infineon Technologies AG, a Germany-based manufacturer of semiconductors, launched OptiMOS 5 IPOL buck regulators with VR14-compliant SVID standard and I²C/PMBus digital interfaces for network ASICs/FPGAs and Intel/AMD server CPUs. They are designed for next-generation server, storage, telecom, and datacom applications, as well as distributed power systems. The PMBus interface is included with the OptiMOS IPOL single-voltage synchronous buck regulator TDA38640, which can support output currents of up to 40 A and 25 A, respectively. The new devices simplify the design development process while delivering industry-leading transient performance thanks to Infineon’s unique fast constant on time (COT) PWM engine.
The application specific integrated circuit market report table of contents includes:
- Executive Summary
- Application Specific Integrated Circuit Market Characteristics
- Application Specific Integrated Circuit Market Trends And Strategies
- Application Specific Integrated Circuit Market – Macro Economic Scenario
- Global Application Specific Integrated Circuit Market Size and Growth
- Application Specific Integrated Circuit Market Segmentation
- Application Specific Integrated Circuit Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Application Specific Integrated Circuit Market
- Application Specific Integrated Circuit Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Application Specific Integrated Circuit Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Application Specific Integrated Circuit Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Application Specific Integrated Circuit Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Infineon Technologies AG Financial Performance
Table 75: Semiconductor Components Industries LLC Financial Performance
Table 76: OmniVision Technologies Inc. Financial Performance
Table 77: Tekmos Inc. Financial Performance
Table 78: Seiko Epson Corporation Financial Performance
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