Application-Specific Integrated Circuit (ASIC) Chip Market to Reach USD 42.65 Billion by 2032
Reports And Data
The global application-specific integrated circuit (ASIC) chip market size was USD 20.3 Billion in 2022 and expected to register a revenue CAGR of 8.6% by 2032
NEW YORK CITY, NEW YORK , UNITED STATES, March 8, 2023 /EINPresswire.com/ -- The global application-specific integrated circuit (ASIC) chip market size was USD 20.3 Billion in 2022 and is expected to register a revenue CAGR of 8.6% over the forecast period, according to the latest report by Reports and Data.
Increasing demand for high-performance computing solutions and technical advancements in the semiconductor industry, such as launch of innovative materials, production methods, and design tools, are key determinants driving market revenue growth. Additionally, the growing number of industries, such as automotive, aerospace, and military, that require customised computing systems that can meet their specific demands, as well as the expanding demand for high data processing, are driving market revenue growth.
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Some Key Highlights from the Report
• During the forecast period, full custom is anticipated to have a significant share of the market revenue. This is attributed to its growing utilization in critical areas like aerospace and defence, where low power consumption and high performance are crucial requirements.
• During the forecast period, the largest revenue shares in the ASIC chip market is anticipated to be held by the consumer electronics segment. This can be attributed to the increasing need for computing solutions that offer high performance capabilities and low power consumption. ASIC chips are utilized in various consumer electronic devices such as game consoles, laptops, tablets, and smartphones.
• The biggest revenue share throughout the projection period is anticipated to come from the North American market. This is because high-performance computing systems are in greater demand across a variety of industries, including telecommunications, automotive, aerospace, and military. Other factors influencing market revenue growth include the region's concentration of important semiconductor manufacturers and the growing demand for emerging technologies like 5G and self-driving cars.
• Some major companies profiled in the global market report are Broadcom Inc., Qualcomm Technologies Inc., Samsung Electronics Co., Ltd., SK Hynix Inc., Taiwan Semiconductor Manufacturing Company Limited (TSMC), Intel Corporation, Advanced Micro Devices Inc. (AMD), NVIDIA Corporation, Xilinx Inc., Microchip Technology Inc., Analog Devices Inc., NXP Semiconductors N.V., Infineon Technologies AG., STMicroelectronics N.V., and Renesas Electronics Corporation
• Intel launched its latest third-generation Xeon Scalable CPU, named 'Ice Lake', in April 2021. Designed for use in data centers, the CPU utilizes Intel's 10nm process technology and provides improved performance and power efficiency.
• Xilinx launched the Versal HBM adaptive computation acceleration platform (ACAP) in March 2021. This platform utilizes High Bandwidth Memory (HBM) technology and is designed for use in applications such as 5G networking, cloud computing, and AI.
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