Application Specific Integrated Circuit Market Size, Share, Growth Analysis, By Product, By Volume, By End Use, By Region - Industry Forecast 2025-2032


Report ID: SQMIG45N2106 | Region: Global | Published Date: December, 2024
Pages: 191 |Tables: 0 |Figures: 0

Application Specific Integrated Circuit Market Insights

Application Specific Integrated Circuit Market size was valued at USD 18.32 Billion in 2023 and is poised to grow from USD 19.36 Billion in 2024 to USD 28.55 Billion by 2032, growing at a CAGR of 5.7% during the forecast period (2025-2032).

The demand for application-specific integrated circuit is expected to grow with the increasing utilization of ASICs in consumer electronics, such as tablets, smartphones, and smartwatches, among others. An application-specific integrated circuit, known simply as an ASIC, is an integrated circuit that has been agonizingly designed to meet a particular function or application which enables all electrical elements to be placed in one chip. Since the entire system is fully integrated with the help of integration of several small and medium-sized functions of integrated circuit on a single chip, these circuits ensure full conformity with the system specifications. Thus, the circuit is found to be applied in many diversified fields, such as the automotive field, communications, electrical and electronics, and medical fields. The reason for a boom in market growth, over the projection period, is expected to be the ever-increasing demand for tablets and smartphones. The report from GVR study reveals that nearly 75% of the total mobile phone owners will possess a smartphone by the end of 2025. ASICs support the necessities of next-generation smartphones, which comprise high bandwidth, low weight and size, cheap cost, and extended battery life. Increasing demand of "smart" appliances: Increased demand of any electronic device, such as gaming consoles, computers, wearables, digital cameras, televisions, with advanced features such as flat screens, touch screen, and Bluetooth, etc. is predicted to increase the demand of ICs. Electronic components comprising ASICs have increased demand over the last few years due to increasing acceptance of mechatronics in industrial and automobile applications.

Market snapshot - 2024-2031

Global Market Size

USD 15.7 billion

Largest Segment

The semi-custom ASIC

Fastest Growth

The full-custom ASIC

Growth Rate

6.7% CAGR

Global Application Specific Integrated Circuit Market By Geography ($ Bn)
Country Share for Asia-Pacific Region (%)

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Application Specific Integrated Circuit Market Segmental Analysis

Global Application Specific Integrated Circuit Market is segmented by Product, Volume, End Use and Region. Based on Product, the market is segmented into Full Custom ASIC, Semi-Custom ASIC, Cell Based, Array Based.  Based on Volume, the market is segmented into Low Volume, High Volume.  Based on End Use, the market is segmented into Telecom, Consumer Electronics, Automotive, Healthcare, Industrial. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Analysis by Product Type

The semi-custom ASIC segment had accounted for more than 49% of the market in 2023 and is expected to lead the pace over the projection period. Its widespread use across industries with relatively lesser complexity makes it an attractive alternative for manufacturers, which in effect is driving its growth. Semi-custom ASICs provide an opportunity to the business world to fulfill special needs for applications without having the burden of waiting for long development delays associated with full-custom designs. This it does by finding a balance between performance and cost-effectiveness. The three main categories of ASICs available in the market are the semi-custom, full-custom, and programmable ASICs. Although each of these fields has its different purpose, the semi-custom segment will prove to be the most appropriate for many applications as it is efficient and flexible.

On the other hand, the full-custom ASIC is expected to grow at a significant CAGR of 4.8% during the projection period. Such ICs are said to reduce power consumption, provide increased speeds, and ensure more intellectual property protection. Optimization of memory cells changed logic cells, layouts, mechanical structures, and circuits can help minimize the processing times and potential disastrous consequences. Full-custom ASICs take more time to manufacture compared to semi-custom ASICs. Application designs usually are eight weeks. It takes a lot of time to design full-custom ASICs, but the points in customized performance qualities justify this investment for applications requiring accuracy and effectiveness.

Analysis by End Use

As of 2023, the consumer electronics segment constituted about 35.33% of the global market. This category is predicted to provide opportunities for profitable development for all stakeholders in the value chain, mainly due to global, at large, is increasingly using application-specific integrated circuits in laptops, tablets, and smartphones. This is resulting in increasing popularity of ASICs in the consumer electronics sector with benefits from reduced power consumption, security of IP, small size, and high-bandwidth. The rapid growth of electronic products has also led to a greater possibility for increased stability and energy efficiency; therefore, this is driving the expansion of the ASIC market. These ICs are found in many applications beyond consumer electronics. Some of which include telecommunications, industries, and medical-related areas.

During the forecast period, the industrial segment is anticipated to experience massive growth. ASIC chips minimize the chances of failure and help achieve reliability in industrial systems. This can be done by substituting regular components such as solder connections and traces on the PCB with a single IC. The market extends with more customers who use different components in industrial processes that include microcontrollers, thermal controllers, and programmable timers. Moreover, the list of numerous producers in the market exists; they promote ICs designed strictly for industrial applications. For example, Custom Silicon Solutions, Inc. is a semiconductor company specializing in custom "Mixed Signal" technology. The company's advanced version of the 555 timer is the CSS555C industrial ASIC. In comparison to other 555 timer devices, this industrial ASIC uses 10% less power compared to other 555 timer devices.

Global Application Specific Integrated Circuit Market By Product Type

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Application Specific Integrated Circuit Market Regional Insights

Asia-Pacific currently stands as one of the major markets in the global application specific integrated circuit market, with a remarkable revenue share of more than 48.0% in 2023. Various factors contribute to the enormous growth in demand for ASICs in the region. A few of the factors include rapid economic growth and increasing industrialization in the region, which are major drivers that fuel growing demand for energy-efficient devices in the region. Widespread use of smartphones in Asia Pacific further accelerated the growth of the market. The incidence of increased usage of such devices triggers the growth of the ASIC market, especially in developing countries such as China, Japan, and India. Other contributing factors have been the continuous digitization process, rising popularity of high-tech products, vehicle electronics improvements, and rising need for shrinking.

North America is predicted to witness a growth of 5.8% in the projection period. This growth is due to the fundamental strength in the region of well-setup companies such as Texas Instruments Inc., Qualcomm Inc., Intel Corporation, and Maxim Integrated Products Inc. As for the current market scenario, the US dominates North America. In the US, major breakthroughs are being witnessed in healthcare monitoring systems, electric and hybrid automobiles, and consumer electronics. North America is one of the largest ASIC manufacturers and solution providers as the region was the first to incorporate the technology.

Global Application Specific Integrated Circuit Market By Geography
  • Largest
  • Fastest

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Application Specific Integrated Circuit Market Dynamics

Application Specific Integrated Circuit Market Drivers

Growing Need for Tailored Approaches

  • The soaring demand for application-specific solutions in various sectors including automotive, telecommunication and consumer electronics segments drives the ASIC industry. Companies wish to have personalized integrated circuits that meet their size, power, and performance requirements to gain an edge over the competition. Therefore, market growth is due to the fast-growing demand for customized ASICs designed to optimize efficiency and performance with the ever-changing technology.

Advances in Technology

  • The application specific integrated circuit market is driven by fast progress in semiconductor technology improvement in fabrication techniques, such as FinFET and 7nm, allowing the manufacturer to build ASICs that incorporate enhanced functionality, low power, and compact form factor. Technical advancements where new-fangled services improve its capabilities and allow it in cutting-edge sectors such as machine learning, artificial intelligence, and Internet of Things enhance market potential.

Application Specific Integrated Circuit Market Restraints

High Costs of ASIC Design Development

  • ASIC design and manufacturing can be very expensive, especially for SMEs. The high barrier to entry might deter companies from engaging in ASIC solutions because in-house designs prove to be very costly, such as design tools, prototyping, and testing. This financial barrier may reduce the total amount of competition and innovation in the industry of ASICs.

Long Development Cycle

  • The development cycle for full-custom ASICs is usually more extended, sometimes taking months or even several months to complete. This will prolong the time before a business may launch a product on the market and could make it difficult for businesses to introduce a product early enough to meet the aspirations of markets that would be keen on having speedy time to market. The design cycle of customized circuits, coupled with the testing involved could be lengthy and complicated, which will make it challenging for a business to respond to the changing requirements of customers and the market.

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Application Specific Integrated Circuit Market Competitive Landscape

Established firms and new entrants are engaged in the application specific integrated circuit market. Significant product offerings and advanced technology products include Qualcomm, AMD, and Intel. Specialized organizations are focused on niche markets, such as Broadcom and Xilinx, who specialize in custom solutions. Continuous technical advancement and collaborations strengthen the competitive landscape as companies strive to develop and meet the high-performance customized ASICs demand across various industries.

Top Player’s Company Profile

  • Broadcom Inc. (United States) 
  • STMicroelectronics (Switzerland) 
  • Faraday Technology Corporation (Taiwan) 
  • FUJITSU (Japan) 
  • Infineon Technologies AG (Germany) 
  • Comport Data (United States) 
  • Intel Corporation (United States) 
  • ASIX Electronics (Taiwan) 
  • OmniVision Technologies, Inc. (United States) 
  • Semiconductor Components Industries, LLC (United States) 
  • Seiko Epson Corporation (Japan) 
  • DWIN Technology (China) 
  • Socionext America Inc. (United States) 
  • Tekmos Inc. (United States)

Recent Developments

  • As Intel announced improvements in its ASIC products in September 2023 with the "Intel Agilex 7" FPGAs release, it aims at utilizing new FPGAs in a broad application spectrum such as data centers, telecoms, and more with improved 5G connection and artificial intelligence. This work is aimed to bring extremely high-performance flexible solutions that satisfy nowadays ever-growing demands of computing environments.
  • In February 2023, Qualcomm launched the "Snapdragon X70" modem, which has advanced ASIC architecture particularly designed to enhance 5G performance. With promises of higher download speeds, energy efficiency, and range, it depicts Qualcomm's commitment towards advancing wireless technology innovation to fulfill the growing need for mobile devices with fast connection.
  • Broadcom recently released their latest Ethernet switching ASIC series known as the "Tomahawk 5" in March 2023. The ASICs support some of its capabilities, such as enhanced security through high-speed data processing and are primarily targeted for use cases in data center networking. The Tomahawk 5 series has been designed to provide better network performance and faster data transfers in large-scale data centers and cloud computing settings.

Application Specific Integrated Circuit Key Market Trends

  • High focus on energy efficiency: Increasingly, conspicuous trends of designing ASICs that are high in energy efficiency occur as sustainability becomes more and more important for all sectors. At such a time, manufacturers pay special importance to the power-saving elements of their designs so that they can comply with environmental standards and save operating expenses. It aligns with business sustainability goals in terms of energy efficiency and is also believed to attract environmentally aware customers who further demand more advanced ASIC solutions that consume less energy.
  • Growth of AI and Machine Learning Applications: Applications that incorporate ASICs are one of the many recent developments that have been witnessed within the industry regarding AI and machine learning applications. To achieve these computationally intensive calculations that AI algorithms demand, companies are working on product-specific ASICs that would not only boost processing speeds but also efficiency. These high-performance ASICs targeted towards such applications are expected to increase further with the rise in AI adoption by the healthcare and finance sectors along with automotive industries. And thus, these advancements shall lead to the direction of the application specific integrated circuit market.

Application Specific Integrated Circuit Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per SkyQuest analysis, there is a huge prospect for growth in demand for ASICs since customized solutions and the acceleration of technological progress would be the guiding factor. The growing trends that make opportunities for innovation range from interest in the conservation of energy to applications of AI. Opportunities exist and promise for innovation but challenges include the costs of high development and long schedules. The market will probably change so long as business houses continue to spend money on customization of ASICs. This will pave the way for competition and innovative products meeting requirements coming from diverse industries and consumers. This changing environment puts forth a need, and it is so urgent to form strategic alliances and continue R&D works so that one does not get left behind in the tide.

Report Metric Details
Market size value in 2022 USD 15.7 billion
Market size value in 2031 USD 28.2 billion
Growth Rate 6.7%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Full Custom ASIC, Semi-Custom ASIC, Cell Based, Array Based
  • Volume
    • Low Volume, High Volume
  • End Use
    • IT and Telecom, Consumer Electronics, Automotive, Healthcare, Industrial
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Broadcom Inc. (United States) 
  • STMicroelectronics (Switzerland) 
  • Faraday Technology Corporation (Taiwan) 
  • FUJITSU (Japan) 
  • Infineon Technologies AG (Germany) 
  • Comport Data (United States) 
  • Intel Corporation (United States) 
  • ASIX Electronics (Taiwan) 
  • OmniVision Technologies, Inc. (United States) 
  • Semiconductor Components Industries, LLC (United States) 
  • Seiko Epson Corporation (Japan) 
  • DWIN Technology (China) 
  • Socionext America Inc. (United States) 
  • Tekmos Inc. (United States)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Application Specific Integrated Circuit Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Application Specific Integrated Circuit Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Application Specific Integrated Circuit Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Application Specific Integrated Circuit Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Application Specific Integrated Circuit Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Application Specific Integrated Circuit Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Application Specific Integrated Circuit Market size was valued at USD 15.7 billion in 2022 and is poised to grow from USD 16.8 billion in 2023 to USD 28.2 billion by 2031, growing at a CAGR of 6.7% during the forecast period (2024-2031).

Established firms and new entrants are engaged in the application specific integrated circuit market. Significant product offerings and advanced technology products include Qualcomm, AMD, and Intel. Specialized organizations are focused on niche markets, such as Broadcom and Xilinx, who specialize in custom solutions. Continuous technical advancement and collaborations strengthen the competitive landscape as companies strive to develop and meet the high-performance customized ASICs demand across various industries. 'Broadcom Inc. (United States) ', 'STMicroelectronics (Switzerland) ', 'Faraday Technology Corporation (Taiwan) ', 'FUJITSU (Japan) ', 'Infineon Technologies AG (Germany) ', 'Comport Data (United States) ', 'Intel Corporation (United States) ', 'ASIX Electronics (Taiwan) ', 'OmniVision Technologies, Inc. (United States) ', 'Semiconductor Components Industries, LLC (United States) ', 'Seiko Epson Corporation (Japan) ', 'DWIN Technology (China) ', 'Socionext America Inc. (United States) ', 'Tekmos Inc. (United States)'

The soaring demand for application-specific solutions in various sectors including automotive, telecommunication and consumer electronics segments drives the ASIC industry. Companies wish to have personalized integrated circuits that meet their size, power, and performance requirements to gain an edge over the competition. Therefore, market growth is due to the fast-growing demand for customized ASICs designed to optimize efficiency and performance with the ever-changing technology.

High focus on energy efficiency: Increasingly, conspicuous trends of designing ASICs that are high in energy efficiency occur as sustainability becomes more and more important for all sectors. At such a time, manufacturers pay special importance to the power-saving elements of their designs so that they can comply with environmental standards and save operating expenses. It aligns with business sustainability goals in terms of energy efficiency and is also believed to attract environmentally aware customers who further demand more advanced ASIC solutions that consume less energy.

Asia-Pacific currently stands as one of the major markets in the global application specific integrated circuit market, with a remarkable revenue share of more than 48.0% in 2023. Various factors contribute to the enormous growth in demand for ASICs in the region. A few of the factors include rapid economic growth and increasing industrialization in the region, which are major drivers that fuel growing demand for energy-efficient devices in the region. Widespread use of smartphones in Asia Pacific further accelerated the growth of the market. The incidence of increased usage of such devices triggers the growth of the ASIC market, especially in developing countries such as China, Japan, and India. Other contributing factors have been the continuous digitization process, rising popularity of high-tech products, vehicle electronics improvements, and rising need for shrinking.

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