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Application Specific Integrated Circuit Market Trends

Report ID: GMI6040
Published Date: Jun 2023
Report Format: PDF

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Application Specific Integrated Circuit (ASIC) Market Trends

The advent of Electric Vehicles (EVs), Advanced Driver Assistance Systems (ADAS), and autonomous driving technologies has led to a significant transformation of the automotive industry, propelling the market for ASICs. ASICs play a vital role in enabling the sophisticated functionalities required in these applications such as sensor fusion, real-time processing, and communication systems. The demand for ASICs in automotive electronics is expected to grow as the industry continues to evolve. The rising demand for power-efficient ASIC solutions can be attributed to the increasing focus on energy efficiency and sustainability. ASICs can be customized to minimize power consumption while maintaining high performance, making them attractive for applications where energy efficiency is critical. Energy-efficient ASICs are also critical for data centers and cloud computing infrastructure, where the reduction in power consumption is a priority.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Application specific integrated circuit (ASIC) industry was valued at USD 16.4 billion in 2022 and will record a CAGR of 5.7% between 2023 and 2032, backed by the rapid adoption of AI & ML technologies.

The application specific integrated circuit market share from industrial segment will grow at 6.5% CAGR from 2023 to 2032. Industrial applications often require real-time data processing for critical operations, quality control, predictive maintenance, and optimization, fueling the demand for ASICs.

Asia Pacific held a significant market share of over 30% in 2022. The region is at the forefront of adopting advanced technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), 5G, and autonomous vehicles, which shape the industry outlook.

Infineon Technologies AG, OMNIVISION, Tekmos Inc., Intel Corporation, Honeywell International Inc., Renesas Electronics Corporation, STMicroelectronics, and Texas Instruments Inc.