Application Specific Integrated Circuits Market 2024 | Telecommunication industry anticipated to be a significantly lucrative market during the forecast period

Application specific integrated circuits are defined as microchips which are designed for specific applications within an electronics device. Application specific integrated circuits are an optimal replacement for the traditional FPGA (Field-Programmable Gate Array) due to their high performance and low power consumption. Global demand for application specific integrated circuits is expected to rise tremendously during the forecast period due to the extensive development of the electronics and industrial sectors worldwide. Moreover, the increasing applications of these sensors in consumer electronics, and the demand for electronic goods in the Asia Pacific region, especially in China and Japan, are likely to boost the overall market remarkably in the coming years.

The global application specific integrated circuits market is driven by factors such as growing demand for smartphones and tablets. It helps in fulfilling the smaller size and weight, low-cost, high-bandwidth, and long battery life requirements of next-generation smartphones. Additionally, the increasing scope of applications for application specific integrated circuits is expected to have a significant impact on the global ASIC market over the forecast period. For instance, large System on Chip (SoC) and mixed signal designs are using ASIC significantly as compared to its FPGA counterpart. Moreover, with latest technological advancements, the unit cost for ASICs has been decreasing, leading to a positive impact on the global market. However, the continuous evolution of the electronics industry is creating a constant need for enhancement of ASIC designs to catch up with the rising requirements.

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The global application specific integrated circuits market is segmented on the basis of end-use and type. Based on end-use, the market is divided into telecommunication, industrial, automotive, consumer electronics, and others. Others include domains such as medical, military and aerospace, auto emission control, sensors, and environmental monitoring. The significant use of application specific integrated circuits in industrial applications including Micro-Power 555 Programmable Timer, Thermal Controller, and 8 Bit Microcontrollers are having a significant impact on the share of the industrial segment of the global application specific integrated circuit market. The consumer electronics industry is anticipated to expand at a significant CAGR of above 8% due to its extensive use of ASICs within phones and tablets. Based on type, the global application specific integrated circuit market is divided into full-custom ASIC, semi-custom ASIC, and programmable ASIC. Semi-custom ASIC are further divided into cell based ASIC and array based ASIC. Semi-custom ASIC can be used to cater to a wider scope of applications as compared to its counterparts. Additionally, due to its low complexity and wide scope of applications, semi-custom ASICs are anticipated to hold a significant share of more than 40% for the year 2018.

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By geography, the global application specific integrated circuits market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America market is anticipated to hold a considerable share of 31.7% for the year 2018. The significant presence of prominent players in the region including Analog Devices, Inc., Maxim Integrated Products Inc., ON Semiconductor, Qualcomm Inc., Intel Corporation, and Texas Instruments Inc. is one of the primary reasons for the growth within the region. However, the market in the Asia Pacific region is anticipated to grow at the fastest CAGR over the forecast period 2018-2026.

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Some of the other key players profiled in this report include Infineon Technologies AG, STMicroelectronics N.V., Renesas Electronics, and NXP Semiconductors N.V.