A smart consumer electronic device is an electronic gadget that can share and interact with its user and other smart devices. In 2020, 61% of people among the global population own a smart device. In recent times smart TV, laptops, wearables, and others have gained immense popularity among consumers, which has become an integral part of the human lifestyle. According to a report published by The National Interest, smart TV, 81 % of U.S. households have at least one smart TV in 2021. Meanwhile, in 2020, 39% of adults watch video on a TV via internet-connected devices daily.
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The global application-specific integrated circuit (ASIC) market is expected to reach USD 30,092.96 million by 2029 from USD 16,447.49 million in 2021, growing with the healthy CAGR of 8.1% in the forecast period of 2022 to 2029. The growing adaption of industry 4.0 technologies in the automotive industries and increasing consumption of consumer electronics are expected to boost the market growth. The high cost associated with manufacturing customized circuits is expected to restrain the global application specific integrated circuit (ASIC) market.
Emergence of ASIC driven IoT devices across the world will drive the market's growth rate
Modern digital wireless handsets have to perform and function as a real communications hub that brings a wide range of smart features to the cellular industry. Advanced application-specific integrated circuits (ASIC) technology is the key to fulfilling the low-cost, smaller size and weight, high-bandwidth, and long battery life requirements of next-generation smart cellular phones and tablets. These benefits offered by the ASIC technologies are hoisting the smartphone's innovation, boosting the demand for wide adoption of smart generation phones among consumers. Continuous evolution in ASIC technologies is boosting the ASIC market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Design Type (Full Custom, Semi-Custom, and Programmable), Programming Technology (Static Ram, Eprom, Eeprom, Antifuse, and Others), Application (Consumer Electronics, Data Center & Computing, It & Telecommunication, Medical, Multimedia, Automotive, and Industrial)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Texas Instruments Incorporated (U.S.), Analog Devices, Inc. (U.S.), Renesas Electronics Corporation (Japan), Honeywell International Inc. (U.S.), Maxim Integrated (U.S.), Lattice Semiconductor (U.S.), Microchip Technology Inc. (U.S.), QuickLogic Corporation (U.S.), Avnet Asic Israel Ltd. (Israel), Cobham Limited (U.K.), Socionext Inc. (Japan), Semiconductor Components Industries, LLC (U.S.), NXP Semiconductors (Netherlands), Qualcomm Technologies, Inc. (U.S.), MegaChips Corporation (Japan), EnSilica (U.K.), Intel Corporation (U.S.), Infineon Technologies AG (Germany), Xilinx (U.S.), Achronix Semiconductor Corporation (U.S.), GOWIN Semiconductor (China) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The global application specific integrated circuit (ASIC) market is segmented into three notable segments based on the design type, programming technology, and application.
- On the basis of design type, global application-specific integrated circuit (ASIC) market has been segmented into full custom, semi-custom, and programmable. In 2022, the semi-custom segment is expected to dominate the global application-specific integrated circuit (ASIC) market with respect to the design type segment with a 49.49% share due to the penetration of artificial intelligence (AI) in each and every smart application. However, the difficulties caused due to cyber-attacks hinders the market growth.
- On the basis of programming technology segment, global application-specific integrated circuit (ASIC) market has been segmented into static ram, EPROM, EEPROM, antifuse, and others. In 2022, the static ram segment is expected to dominate the global application-specific integrated circuit (ASIC) market with respect to the programming technology segment with a 40.95% share due to the easy availability of cost efficient systems. However, the threats to data integrity hinders the market growth.
The food and beverages segment will dominate the programming technology segment of the application-specific integrated circuit (ASIC) market
The static ram segment will emerge as the dominating segment under programming technology with approximately 46% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors and electronics industry all around the globe will further bolster the growth of this segment.
- On the basis of application segment, global application specific integrated circuit (ASIC) market has been segmented into consumer electronics, data center & computing, IT & telecommunication, medical, multimedia, automotive, and industrial. In 2022, the consumer electronics segment is expected to dominate the global application-specific integrated circuit (ASIC) market with respect to the end user segment with a 34.83% share due to the growing demand for smartphones and tablets. However, the problems encountered by day to day technological advancements hinders the market growth.
The consumer electronics segment will dominate the application segment of the application-specific integrated circuit (ASIC) market
The consumer electronics segment will emerge as the dominating segment application segment. This is because of the growing demand for consumer electronics in the market, especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in application-specific integrated circuit (ASIC) market: Huhtamaki (Finland), DS Smith (U.K.), Ball Corporation (U.S.), Tetra Pak (Switzerland), Printpack (U.S.), Mondi (U.K.), Sealed Air (U.S.), WestRock Company (U.S.), Sonoco Products Company (U.S.), Pactiv Evergreen Inc. (U.S.), Berry Global Inc. (U.S.), EMERALD PACKAGING (U.S.), Amcor plc (Australia), UFlex Limited (India), Nampak Ltd. (South Africa), Plastipak Holdings, Inc. (U.S.), Crown Holdings, Inc. (U.S.), Ardagh Group S.A. (Luxembourg), Smurfit Kappa (Ireland), Elopak (Norway).
Market Development
- In July 2021 Texas Instruments Incorporated introduced a new high-performance microcontroller (MCU) portfolio that advances real-time control, networking and analytics applications at the edge. With new Sitara AM2x MCUs, engineers can achieve 10 times the computing capability of traditional, flash-based MCUs. This development improves the product portfolio of the company
- In May 2021, Analog Devices, Inc. announced its expanded portfolio of battery management system (BMS) products, including ASIL-D functional safety and innovative new low-power features to enable continuous battery monitoring. This product launch improves the product portfolio of the companyRegional Analysis
Geographically, the countries covered in the application specific integrated circuit (ASIC) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in application specific integrated circuit (ASIC) market during the forecast period 2022 - 2029
North America is dominating the market. The large presence of well-known companies in the area, including as Texas Instruments Inc., Qualcomm Inc., Intel Corporation, and Maxim Integrated Products Inc., is credited with the rise. The United States dominates the region in the contemporary industrial environment. In the US, there has been significant advancement in consumer electronics items, healthcare monitoring systems, and electric and hybrid automobiles. North America is the home to many application-specific integrated circuit makers and solution providers because they were early adopters of the ASIC technology.
Asia-Pacific is estimated to be the fastest growing region in application specific c integrated circuit (ASIC) market the forecast period 2022 - 2029
Over the forecast period, Asia-Pacific is expected to become the region with the quickest growth. The development is linked to the region's rising smartphone adoption as well as the quickly rising demand for energy-efficient gadgets. Due to several causes, including expanding digitization, increased use of high-tech devices, advancements in automotive electronics, and increased need for miniaturization, developing economies such as China, Japan, and India are also assisting market expansion. Additionally, the region's abundance of major consumer electronics manufacturers like LG Electronics and Samsung Electronics Co. Ltd. as well as numerous semiconductor firms like Infineon Technologies are fostering the industry's expansion.
COVID-19 Impact
Since a few decades ago, manufacturers have concentrated on the current trends in the electronics industry, such as using cutting-edge materials, creating low-power devices, organic electronics, and shrinking. Due to its adaptable design, rapid speed, and demand for little power, application specific integrated circuits (ASIC) have been gaining popularity. To keep their businesses expanding beyond the peak of the COVID-19 epidemic, companies in the application specific integrated circuit (ASIC) market are concentrating on high-growth end-use industries including aerospace, consumer electronics, and telephony.
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