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Programmable Application Specific Integrated Circuit (ASIC) Market Global Size, Share, Development Trends and Competitive Insights by 2020-2025

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Apr 06, 2020 (Daily Market Journal via Comtex) -- Market Overview

The Programmable Application Specific Integrated Circuit (ASIC) Market is expected to witness a CAGR of 8.5% over the forecast period (2020 - 2025). The rapidly rising demand for smartphones, tablets, and other mobile devices across the globe is positively impacting the programmable ASIC demand in the consumer electronics segment.

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- With the increased pace of new product development, declining cost per function of ICs, and their increasing functionality, and shortened product replacement cycles are some of the factors that are positively influencing the growth of the market.
- The growing demand for various telecommunications application such as system-on-chip (SoC) application is expected to boost the revenue of the market in the coming years. Additionally, the growing use of application specific integrated circuits in consumer electronics and in various industrial and automotive application is further expected to drive the market forward.
- Another factor driving the market is the emergence of IoT devices. These circuits are also used in applications such as environmental monitoring, automotive emission control, and personal digital assistants among others. As the application specific integrated circuits are capable of integrating both analog and logic functions, hence they enable the formation of a complete mechanism on a single chip, which is expected to boost the growth of the market.

Scope of the Report

An application-specific integrated circuit (ASIC) is specially built for a specific application or purpose. Compared to a logic device or a standard logic integrated circuit, an ASIC provides better speed because it is specifically designed for a specific application. It is also made smaller and it uses less electricity.

Key Market Trends

Increasing Demand from Consumer Electronics Segment to Drive the Market

- The consumer electronics market constantly demands higher power dissipation, faster speeds, and higher pin counts, along with smaller footprints and lower profiles.
- The miniaturization and integration of semiconductors have given rise to smaller, lighter, and better portable devices, like tablets, smartphones, and the emerging IoT devices.
- Each iteration of the consumer electronics product is becoming smarter, lighter, and more energy-efficient than its predecessors. With this level of technology, consumers are now tending towards more reliable gadgets that could stand minor mishaps, which take place in day-to-day activities.
- With the increasing smartphone sales in various regions across the globe, it is evident that the demand for integrated circuits will also see an increased demand, which is expected to drive the market forward during the forecast period.

Asia-Pacific to Witness High Growth

- The Asia Pacific region is expected to witness the fastest growth in the market owing to the rapidly increasing penetration of smartphones among the population and the increasing demand for energy-efficient devices. Emerging economies such as China, India, and Japan are also driving the market growth due to the increasing penetration of high-tech gadgets, development of automotive electronics, increased requirement of miniaturization, growing digitization, economic development, rapid industrialization, and other factors.
- Moreover, with the presence of major semiconductor companies in this region, such as Infineon technologies and other such companies, along with the presence of major consumer electronics players, such as Samsung Electronics, LG Electronics, is influencing the market growth during the forecast period. The growing demand for consumer electronics will continue to positively impact the demand for programmable ASIC in the Asia-Pacific region.

Competitive Landscape

The programmable application specific integrated circuit (ASIC) market is highly competitive owing to the presence of many large vendors operating in domestic as well as in the international markets. The market appears to be moderately concentrated moving towards the fragmented stage with the major players adopting strategies like product innovation, joint ventures, partnerships and mergers and acquisitions. Some of the major players in the market are Analog Devices, Inc., Infineon Technologies AG, STMicroelectronics, Texas Instruments Inc. among others.

- March 2018 - Infineon Technologies and SAIC Motor establish power module joint venture SIAPM in China to manufacture power modules for the developing electric vehicle market in China.
- September 2018 - Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, announced a strategic alliance with Alibaba Cloud, a subsidiary of Alibaba Group Holding Inc., that will empower the Internet of Things (IoT) developers to accelerate the growth of China's IoT market.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
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Companies Mentioned:
- Analog Devices, Inc.
- Infineon Technologies AG
- STMicroelectronics
- Texas Instruments Inc.
- Maxim Integrated
- NXP Semiconductors N.V.
- ON Semiconductor
- Renesas Electronics Corporation

Browse the full report @ https://www.orbisresearch.com/reports/index/programmable-application-specific-integrated-circuit-asic-market-growth-trends-and-forecast-2020-2025

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