Global Application Specific Integrated Circuit Market Size, Share And Growth Analysis For 2024-2033

Application Specific Integrated Circuit Market Size,Growth Outlook Through 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 1, 2024 /EINPresswire.com/ -- The application specific integrated circuit market has experienced robust growth in recent years, expanding 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.

What Is The Estimated Market Size Of The Global Application Specific Integrated Circuit Market And Its Annual Growth Rate?
The application specific integrated circuit market is projected to continue its strong growth, reaching $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.

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Growth Driver Of The Application Specific Integrated Circuit Market
The growing demand for smartphones is expected to propel the growth of the application-specific integrated circuit market going forward. A smartphone is a multifunctional electronic device that combines the capabilities of a mobile phone with those of a personal computer. Application-specific integrated circuits (ASICs) play a crucial role in modern smartphones, enabling them to deliver exceptional performance, power efficiency, and specialized features.

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Which Market Players Are Steering the Application Specific Integrated Circuit Market Growth?
Key players in the market include Infineon Technologies AG, Semiconductor Components Industries LLC, OmniVision Technologies Inc., Tekmos Inc., Seiko Epson Corporation, Socionext America Inc., Intel Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Qualcomm, Onsemi, Maxim Integrated, Renesas Electronics Corporation, Broadcom Inc., Comport Data Inc., Fujitsu Limited, NXP Semiconductors N.V, Faraday Technology Corporation, Comport Data, Micron Technology, Intel Corporation, ASIX Electronics, Renesas Electronics Corporation, IC’Alps, Marvell Technology Group Ltd., Samsung Electronics, LG Electronics, Honeywell International Inc., eSilicon, Cypress Semiconductor Corporation.

What Are the Dominant Trends in Application Specific Integrated Circuit Market Overview?
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.

How Is The Global Application Specific Integrated Circuit Market 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

Geographical Insights: North America Leading The Application Specific Integrated Circuit Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Application Specific Integrated Circuit Market Definition
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.

Application Specific Integrated Circuit Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global application specific integrated circuit market report covering trends, opportunities, strategies, and more
The Application Specific Integrated Circuit Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on application specific integrated circuit market size, application specific integrated circuit market drivers and trends, application specific integrated circuit market major players and application specific integrated circuit market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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