The global application specific integrated circuit market size is expected to hit USD 392.5 billion by 2030 from at USD 265.2 billion in 2021, poised to grow at a compound annual growth rate (CAGR) 4.8% from 2021 to 2030.

London, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Precedence Research Recently Announced Report on “Application Specific Integrated Circuit Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030”.

An Application Specific Integrated Circuit is a custom-designed integrated circuit for a specific application or function. These Integrated Circuits (ICs) combine all of the electronic components into a single chip. These circuits can also combine the functions of numerous tiny and medium-sized integrated circuits that perform some functions individually on a single chip, allowing the entire system to be assimilated on a single chip to recognize system needs. These integrated circuits are utilized in a variety of industries, including automotive, telecommunications, electrical and electronics, and medicine.

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Crucial factors accountable for market growth are:

• Rise in demand for smartphones and tablets.
• Growing usage of mechatronics in industrial and automotive applications.
• The surge in demand for consumer electronics devices.
  
  

Regional Snapshots

North America dominated the Application Specific Integrated Circuit Market contributing more than 21% in 2020 and is anticipated to grow significantly during the forecast period. This is because of the presence of major market players continuously investing heavily in research development activities for producing innovative products.

Scope of the Application Specific Integrated Circuit Market

Report Coverage	Details
Market Size in 2021	USD 265.2 Billion
Growth Rate From 2021 to 2030	CAGR 4.8%
Fastest Growing Market	Asia Pacific
Largest Market	North America
Base Year	2021
Regional Scope	North America Europe Asia Pacific LAMEA
Companies Covered	OmniVision Technologies; Infineon Technologies AG; Semiconductor Components Industries, LLC; Intel Corporation, Tekmos Inc.; Seiko Epson Corporation; Socionext America Inc.

Report Highlights

• The Semi-Custom ASIC product segment is expected to lead the market contributing more than 48.5% of the revenue share in the upcoming years.
• The Consumer Electronics Application segment of the Application Specific Integrated Circuit Market leads the market with a market share of more than 34% in 2020 and is estimated to grow significantly in the forecast period.
• By Geography, North America holds a significant share accounting for more than 21% revenue share in 2020 in the application specific integrated circuit market because the major market players in the region.
  
  

Market Dynamics

Driver - The consumer electronic application segment if the major end use industry of the Application Specific Integrated Circuit Market and the rise in demand for phones, tablets, laptops and other electronics products are anticipated to drive the market growth.

Restraint - The high cost of manufacturing customized circuits, circuit design costs, and functional reliability difficulties are the key restraints on the growth of the Application Specific Integrated Circuit Market.

Opportunity - Smaller, lighter, and better portable gadgets, such as tablets, smartphones, and upcoming IoT devices, have resulted from semiconductor shrinking and integration. This leads to the development of durable electronic gadgets, which is likely to create significant market growth potential.

Challenges - The complex design and the high manufacturing cost are the attributes that is expected to be a major challenge that is encountered by the market.

Recent Developments

• On 27th October 2021, the new XENSI TLE4972, developed by Infineon Technologies AG, is the company's first vehicle current sensor. For precise and consistent current measurements, the coreless current sensor employs Infineon's well-known Hall technology. Because of its compact design and diagnostic modes, the TLE4972 is well suited for xEV applications such as traction inverters in hybrid and battery-powered vehicles, as well as battery main switches.
• On 26th October 2021, Vehicles are becoming more vulnerable to cyberattacks as they get more electrified and connected, which can have significant implications. As a result, automobile makers must ensure that telematics data is adequately protected. As a result, Infineon Technologies AG has released the SLI37 automotive security controller, which is a simple-to-use and dependable trust anchor for safeguarding safety-critical automotive applications such as 5G-ready eUICC (eCall), V2X communication, car access, and SOTA updates.
• On 21st September 2021, The MAX77659 single-inductor multiple output (SIMO) power management IC (PMIC) with integrated switch-mode buck-boost charger charges wearables, hearables, and Internet of Things (IoT) devices quicker and in less space than any other PMIC now available, according to Analog Devices, Inc. The MAX77659 SIMO PMIC gives over four hours of play time after a rapid ten-minute charge and uses a single inductor to power multiple rails, reducing the bill of materials (BOM) by 60% and the total solution size by 50%.
  
  

Segments Covered in the Report

By Product

• Full Custom ASIC
• Semi-Custom ASIC
  • Cell Based
  • Array Based
• Programmable ASIC
  
  

By Application

• Telecommunication
• Industrial
• Automotive
• Consumer Electronics
• Others
  
  

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