Application specific integrated circuits (ASICs) are defined as non-standard integrated circuits designed specifically for a particular application. In this case, the entire system or design is integrated into a single chip, virtually eliminating the need for any other components. Thus, ASICs are being seen as a potential milestone in the overall electronics industry. ASICs offer several advantages over general integrated circuits. Since ASIC eliminates the need for most of the additional components, the overall size of the system is reduced significantly. In addition, due to their small size, ASIC require low power with high speed as compared to the general ICs. Moreover, there are no timing issues as the system comprises single-chip designs. As a result, ASICs have witnessed profound penetration across different applications, over the period of time.

Another major factor propelling the market growth is the consistently rising consumer electronics and telecommunication industry worldwide. Over the past few years, mobile devices such as smartphones, tablets and laptops have witnessed immense penetration worldwide. In addition, the advent of ‘smart’ technology has led to profound advancement across the home appliances and other consumer electronics. Similarly, the ASIC market is strongly driven by the rising automotive industry, especially in the Asia Pacific region. Growing use of electronics in the industry would further spur the demand for ASICs during the forecast period. Due to continued growth anticipated across the consumer electronics and automotive industry, the ASIC market would continue to demonstrate healthy growth throughout the forecast period. However, the market growth is remarkably hampered due to high cost of design and manufacturing required for these ICs.

The report titled “Global Application Specific Integrated Circuits (ASIC) Market- Growth, Future Prospects and Competitive Analysis, 2023 – 2030” offers strategic insights into the global ASIC market along with the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of market segments based on product type, application and cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2021 & 2030. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.

In order to help strategic decision makers, the report also includes competitive profiling of the leading ASIC vendors, their business strategy analysis, market positioning and key developments. Some of the major players profiled in the report are NXP Semiconductors NV, Texas Instruments, Inc., STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation and others. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the ASIC industry
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2020 – 2021)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global ASIC market, offering market size and estimates for the period from 2023 to 2030, keeping in mind the above-mentioned factors.

The global ASIC market was dominated collectively by the consumer electronics and automotive segments, as of 2021. The consumer electronics segment primarily comprises mobile devices (smartphones, tablets) and smart consumer appliances. With the rising adoption of smart appliances worldwide, the segment is estimated to continue strong growth throughout the forecast period. Advancement in the connected home appliances is another major factor fueling the penetration ASICs in the consumer electronics segment.

Further, the demand for ASICs in the automotive sector is primarily supported by the increasing use of electronics across different automotive modules. The most significant factor fueling the segment growth is the steadily rising automotive industry across the globe. With the rising discretionary income of people worldwide, especially in the Asia Pacific region, the industry is estimated to continue witnessing steady growth in the coming years. This would significantly fuel the overall ASIC market in the coming years.

As of 2021, the ASIC market worldwide is dominated by the Asia Pacific region. The segment contributed to more than forty percent of the total revenue generated in 2019. The most significant factor contributing to the large revenue share is huge automotive and consumer electronics industry in the region. The market here is majorly governed by China, Japan, South Korea and some of Southeast Asia countries. India too is increasingly becoming lucrative for ASICs due to rising penetration of automotive and electronics manufacturing industry here.

Europe and North America follow Asia Pacific, in terms of revenue, in the global ASIC market. Europe comprises large number of ASIC, thereby supporting the market growth. In addition, presence of a strong automotive and consumer electronics industry here is another prominent factor responsible for strong market growth. Nevertheless, Asia Pacific is estimated to retain its dominant position in the market throughout the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Application Specific Integrated Circuits (ASIC) market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Application Specific Integrated Circuits (ASIC) market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Application Specific Integrated Circuits (ASIC) market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Application Specific Integrated Circuits (ASIC) market?
• Which is the largest regional market for Application Specific Integrated Circuits (ASIC) market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Application Specific Integrated Circuits (ASIC) market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Application Specific Integrated Circuits (ASIC) market worldwide?