The “Global Analog IC Market, by Product Type (Application Specific IC and General Purpose IC), by Application (Communication, Consumer Electronics, Automotive, Industrial, Medical & Healthcare, and Others), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 97,532.6 million by 2027, witnessing a CAGR of 6.8% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
Analog electronic circuit includes an analog signal with constantly changing signal, which contradicting to digital electronics where signals usually signals take only two levels. Most of the fundamental electronic components such as inductors, resistors, capacitors, diodes, transistors, and operational amplifiers are characteristically analog. Generally, analog circuits are made of very elegant designs with many components though they can be simple similar to two resistors combining to make voltage providers. Analog ICs were initially comprised of a pair of matched transistors and soon expanded to include rudimentary Op-Amps, voltage regulators, comparators, and timers. Analog ICs are increasingly used in various applications due to smaller size, higher speeds, and lower power consumption.
Growing adoption of analog IC in medical equipment is expected to drive growth of the global IC market during the forecast period
Increasing demand for advanced medical equipment in the healthcare industry has accelerated the demand for analog IC significantly. Medical equipment, especially implantable medical devices, are designed to offer therapy for pain management and psychological disorders have pre-installed analog ICs. Moreover, growing urbanization, global population, and technological advancements analog ICs are enhancing functionality of these healthcare equipment. Hence, these factors are expected to drive the global analog IC market growth over the forecast period.
Development semiconductors at economical price can provide lucrative business opportunity for market players
Key companies in the market can expand their revenue generation by providing semiconductors at economical price, especially to small- and mid-sized enterprises from emerging economies such as Brazil, India, and China. Moreover, manufacturers can offer high-quality products at affordable prices, in order to minimize if not eliminate the prevalence of counterfeit semiconductors. This, in turn, is expected to offer significant growth opportunity for market players over the forecast period.
Increasing political interference, resulting in lack of investment is expected to hamper the global analog IC market growth over the forecast period
Waste materials and gases generated during the manufacturing of electronic devices and components are hazardous for the environment. Manufacturers in the industry need to comply with environmental norms instigated by various regulatory agencies. These factors are restricting manufacturers from investing in analog IC components, which in turn, is expected hinder the global analog IC market growth over the forecast period. Furthermore, political instability in various countries and regions is creating challenges for manufacturers in terms of making the entire process complicated for the development product.
Key players operating in the global analog IC market are Texas Instruments Incorporated, Renesas Corporation, Infineon Technologies AG, Qualcomm Technologies, Inc., NXP Semiconductors, ON Semiconductor, STMicroelectronics, Skyworks Solutions, Inc., Analog Devices, Inc., and Maxim Integrated Products Inc.