Global Application Specific Integrated Circuit Market

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: 91 | Figures: 70

Application Specific Integrated Circuit Market News

  • 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.
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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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Global Application Specific Integrated Circuit Market

Report ID: SQMIG45N2106

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