ASIC CHIP MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The ASIC chip market is estimated to be valued at USD 20.29 billion in 2024 and is expected to reach USD 32.84 billion by 2031, growing at a compound annual growth rate (CAGR) of 7.10% from 2024 to 2031.
Report Description:
The ASIC chip market has been witnessing significant growth in recent years due to the increased demand for application-specific integrated circuits from various end-use industries such as consumer electronics, automotive, telecommunication, and others. ASIC chips are customized for specific applications which help improve performance and minimize power consumption compared to general purpose processors. The growing need for miniaturization and enhanced functionality across consumer devices as well as industrial and automotive equipment has propelled the need for specialized chips. ASIC chips allow integrating entire systems on a single chip, thereby increasing efficiency and reducing costs. ASIC manufacturers are continuously innovating to develop more advanced chips with improved form factors and capabilities to support new-age technologies. Advancements in IoT, AI, and 5G are expected to open up new revenue opportunities for ASIC chip vendors in the coming years.
Market Dynamics:
The rising demand for specialized chips from consumer electronics is a key driver bolstering the growth of the ASIC chip market. ASIC chips offer advantages of low power consumption and optimized performance which makes them ideal for applications in smartphones, laptops, and other portable devices. Furthermore, the automotive industry is increasingly adopting customized chips for advanced driver-assistance systems, infotainment control units, and telematics devices. However, high production costs and long design cycles involved in ASIC chip development may hinder market expansion to some extent. On the other hand, increasing R&D toward neuromorphic chips powered by Artificial Intelligence and Machine Learning algorithms present lucrative opportunities for ASIC vendors. The development of the 5G network infrastructure will also create demand for specialized radio frequency chips required for mobile networking equipment.
Key features of the study:
- This report provides an in-depth analysis of the global ASIC chip market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global ASIC chip market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Advanced Micro Devices, Inc., ASIX Electronics, Bitmain Technologies Holding Company, Broadcom Inc., Comport Data, DWIN Technology, Faraday Technology Corporation, FUJITSU, Infineon Technologies AG, Intel Corporation, Nvidia Corporation, OmniVision Technologies, Inc., ON Semiconductor Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Seiko Epson Corporation, Semiconductor Components Industries, LLC, Socionext America Inc., STMicroelectronics, Taiwan Semiconductor Manufacturing Company Limited (TSMC), Tekmos Inc., Texas Instruments, Inc., and Xilinx, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global ASIC chip market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global ASIC chip market
Market Segmentation
Table of Contents:
*Browse 24 market data tables and 28 figures on "Global ASIC Chip Market” - Global forecast to 2031
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