According to a new market research report published by Credence Research “Application Specific Integrated Circuits (ASIC) Market (Type – Full Custom Design ASIC, Semi-custom Design ASIC, Programmable ASIC; Application – Consumer Electronics, Automotive, Telecommunication, Healthcare, Industrial, Others) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global application specific integrated circuits (ASIC) market to cross the US$ 28 Bn mark by 2025.
Application Specific Integrated Circuits (ASICs) refer to specialized ICs designed for a specific application. These are non-standard tools and can therefore only be used for a specific application. The fastest-growing consumer electronics and telecommunications industry worldwide is the main driver of the growth of the ASIC market. With the advent of’ smart’ devices, electronic products such as smartphones, tablets, laptops and other mobile devices have experienced tremendous penetration throughout the world. In addition, the market for related electronic components (such as ASIC) has seen significant growth over time due to the steadily increasing adoption of mechatronics through automotive and industrial applications.
Another major factor driving the market growth is the superior advantages of ASIC over general ICs. The biggest advantage is that the entire design of a given electronic application is made into a single integrated circuit, thereby reducing the need for additional components. Other major advantages include smaller size, high speed and low power consumption.
As the market continues to grow, ASICs are expected to be highly promising for the consumer electronics and telecommunications sectors. Nonetheless, market growth is limited by disadvantages such as high manufacturing costs (in small volumes), inflexibility and increased time-to-market. Due to high manufacturing and development costs, these are chosen mainly for goods with high production volumes.
The global ASIC market is segmented by type, application and geographic regions. Based on the types, the market is segmented into fully customized ASIC design, semi-custom design ASIC and programmable ASIC. On the basis of usage, the market is classified into consumer electronics, automobile, telecommunications, healthcare, manufacturing and other industries.
As of 2016, the industry is dominated by the consumer electronics and telecommunications markets, contributing more than fifty percent of the total market revenue. Geographically, the market is split into North America, Europe, Asia Pacific and the rest of the world. Some of the leading players operating in the market include NXP Semiconductors NV, Texas Instruments, Inc., STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation and others.