USD 22.40 billion
ASIC Chip Market Size, Share, Growth Analysis, By Type(Full Custom, Semi-Based Custom, Programmable Logic Devices), By Application(Aerospace Subsystem and Sensor, Wireless Communication, Medical Instrumentation, Telecommunication Products), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45N2090 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
66
|Figures:
75
ASIC Chip Market Insights
Global ASIC Chip Market size was valued at USD 22.40 billion in 2022 and is poised to grow from USD 24.64 billion in 2023 to USD 52.82 billion by 2031, growing at a CAGR of 10% in the forecast period (2024-2031).
Surging demand for specialized circuits and growing advancements in chip technology are projected to bolster demand for ASIC chips across the forecast period. Rising use of chips in telecommunications, automotive, healthcare, and industrial applications is also estimated to favor the ASIC chip market growth in the future. Continual innovation is the key strategy that new as well as established ASIC chip suppliers are predicted to focus on going forward.
Rising adoption of IoT (Internet of Things) devices and artificial intelligence, increasing use of high-performance computing, and implementation of automation in different industries are other prospects that create an opportune scenario for ASIC chip vendors in the future. Simple design and low power consumption of ASIC chips are what make them a preferred choice for multiple users across different industries. Cryptocurrency mining is a specific application where demand for ASIC chips is surging at a rapid pace.
Rising popularity of System-on-chip (SoC) in different applications is also estimated to benefit ASIC chip sales going forward. Growing demand for application-specific semiconductors is estimated to uplift ASIC chip sales in the long run. However, supply chain disruptions are forecasted to emerge as a key restraint for global ASIC chip market growth over the coming years.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Full Custom
Fastest Growth
Full Custom
Growth Rate
10% CAGR
Global ASIC chip market ($ Bn)
Country Share for APAC Region (%)
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ASIC Chip Market Segmental Analysis
The global ASIC Chip Market is segmented on the basis of type, application, and region. Based on type the market is segmented as Full Custom, Semi-Based Custom, Programmable Logic Devices. Based on application, it is segregated into Aerospace Subsystem and Sensor, Wireless Communication, Medical Instrumentation, Telecommunication Products, Consumer Electronics, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Surging demand for fully customizable chips around the world has allowed full custom ASIC chips to account for a dominant market share. These types of chips can also be optimized for performance and increasing demand for precise control of the design and performance of a chip in different industries is slated to favor growth in this segment. Automotive, aerospace, and defense industries witness high demand for full custom ASIC chips.
Sales of Programmable Logic Devices (PLDs) are rising at a rapid pace in the global ASIC chip marketplace. These types of chips are highly versatile and can be adapted for a multitude of tasks and applications ranging in consumer electronics, IoT, and telecommunications industries. PLDs can be reconfigured for specific tasks and reduce the overall time-to-market for different products. This is why companies seeking cost-efficiency and flexibility are more inclined to opt for PLDs in the long run.
Analysis by Application
The majority of ASIC chip demand is coming from consumer electronics applications. High proliferation of different consumer electronics such as smartphones and laptops is fueling the demand for custom chips on a global level. Growing focus on improving the performance and energy efficiency of consumer electronics is driving the adoption of ASIC chips.
ASIC chips are forecasted to witness the fastest-growing demand for medical instrumentation applications in the long run. High use of wearable devices and increasing digitization of the healthcare industry are estimated to uplift ASIC chip sales going forward. The need for specialized ASIC chips for medical applications will offer new growth opportunities. Compact design and precise data processing are some benefits that ASIC chips provide for medical instruments.
Global ASIC chip market by type
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ASIC Chip Market Regional Insights
The presence of robust semiconductor manufacturing activity in the Asia Pacific region allows it to hold a dominant share of the global ASIC chip market. Increasing sales of electronics and rising exports of semiconductors from this region contribute to its high market share. Japan, China, Taiwan, and South Korea are estimated to be key markets in this region as they are major electronics manufacturing hubs in this part of the world. Rising digitization in this region also contributes to growing ASIC chip demand.
The rapid adoption of ASIC chips in autonomous vehicles, data centers, cryptocurrency miners, and high-performance computing is predicted to make North America a highly opportune space for ASIC chip suppliers. Increasing innovation in the design and performance of semiconductors in this region also allows it to emerge as the fastest-growing market in the world. The United States is slated to be the leading country in this region in terms of ASIC chip demand.
Global ASIC chip market by Region
- Largest
- Fastest
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ASIC Chip Market Dynamics
Drivers
Increasing Demand for IoT Devices
- The rising proliferation of IoT devices in different industry verticals is slated to emerge as a key driver for ASIC chip demand in the future. Demand for chips and semiconductors that are energy-efficient, small in size, and capable of delivering high performance is what will boost the adoption of ASIC chips in IoT applications.
Restraints
Supply Chain Disruptions
- Shortages of raw materials required to develop and manufacture semiconductors and ASIC chips owing to supply chain disruptions could significantly hurt market growth. Trade disputes, geopolitical tensions, and natural disasters are some key factors resulting in supply chain disruptions that could slow down and hurt ASIC chip sales potential.
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ASIC Chip Market Competitive Landscape
ASIC chip companies are investing heavily in the research and development of new ASIC chips with enhanced performance and smaller form factors as the miniaturization of devices increases. The market is highly competitive with new players coming in with innovations and established players leveraging their robust R&D divisions to create new products. ASIC chip companies are also focusing on capitalizing on the rising popularity of the System-on-chip (SoC) trend to maximize their sales potential in the long run.
Collaborations and partnerships with different industry verticals will also open up new avenues of opportunities for ASIC chip vendors in the future. ASIC chip market players are also leveraging new product launches and innovative marketing strategies to expand their business reach. The highly competitive nature of this marketplace opens up the scope for continual innovation and boosts market development as well.
Top Player’s Company Profiles
- Samsung Electronics Co. Ltd. (South Korea)
- Infineon Technologies (Germany)
- Renesas Electronics Corporation (Japan)
- Nvidia Corporation (US)
- Arm Holdings (UK)
- Intel Corporation (US)
- Advanced Micro Devices, Inc. (US)
- Silicon Laboratories Inc. (US)
- Bitmain Technologies Ltd. (China)
- Texas Instruments (US)
- ON Semiconductor (US)
- Qualcomm Inc. (US)
- Xilinx, Inc. (US)
- MediaTek Inc. (Taiwan)
- NXP Semiconductors N.V. (Netherlands)
- Taiwan Semiconductor Manufacturing (Taiwan)
- Broadcom Inc. (US)
- Lattice Semiconductor Corporation (US)
- STMicroelectronics N.V. (Switzerland)
- Microchip Technology Inc. (US)
Recent Developments
- In April 2024, in a significant stride towards realizing the world's first space-based cellular broadband network, AST SpaceMobile, Inc. announced the initiation of the tape-out phase for its highly anticipated Application-Specific Integrated Circuit (ASIC), developed in partnership with TSMC, the premier global semiconductor foundry.
- In March 2024, ZTE Corporation, which positions itself as a global leading provider of ICT solutions, unveiled its Fibre To The Room for Business (FTTR-B) series of products at FTTH Conference 2024. This release includes groundbreaking innovations such as the world's first enterprise-level FTTR-B main Optical Network Terminal (ONT) powered by an Application Specific Integrated Circuit (ASIC), the industry's first FTTR room ONT with integrated set-top box (STB) functionality, and ceiling-mounted access points (APs) catering to diverse installation scenarios, boasting ease of installation.
- In February 2024, Noida-based Fabless semiconductor company, Vervesemi, launched Made-in-India Semiconductor Application-Specific Integrated Circuit (ASIC).
ASIC Chip Key Market Trends
- Accelerated Adoption of AI and Edge Computing: ASIC chips can be used to power specific applications such as edge computing, autonomous vehicles, and data centers that require chips that can perform specific tasks at a rapid pace. The increasing use of IoT devices and rising demand for AI algorithms in miniaturized devices is also creating opportunities for ASIC chip suppliers in the long run.
ASIC Chip 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 our analysis, the global ASIC chip market is projected to be driven on the back of rapid technological advancements and growing demand for specialized integrated circuits in different industry verticals. Rising popularity of IoT devices, edge computing, and application-specific computing devices is estimated to bolster sales of ASIC chips in the future.
Increasing integration of artificial intelligence, rising adoption of automation in industries, high demand for cryptocurrency mining, and high demand for specialized chips for autonomous vehicles are other trends that could augment ASIC chip market growth over the coming years. However, supply chain disruptions are projected to be a key constraint for the overall ASIC chip market development across the forecast period.
Product innovation is projected to be the prime strategy for established as well as new ASIC chip manufacturers as the market is intensely competitive. Advancements in semiconductor manufacturing technologies are projected to be crucial in improving the performance and capabilities of ASIC chips in the future,
Asia Pacific accounts for a dominant position in the global ASIC chip market at present but North America is projected to emerge as a notable regional market owing to robust innovations in semiconductor technology development. The market is predicted to continue growth on an upward trajectory over the coming years and the growth is estimated to be boosted by rising adoption of edge computing and integration of AI algorithms in different industry verticals to power the rapid digitization.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 22.40 billion |
| Market size value in 2031 | USD 52.82 billion |
| Growth Rate | 10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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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 ASIC Chip 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
- Exhibit: Impact analysis of DROC, 2021
- 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 ASIC Chip 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the ASIC Chip 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 ASIC Chip 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 ASIC Chip Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the ASIC Chip 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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