Application Specific Integrated Circuit (ASIC) Market to Reach $ 34.49 Bn by 2031: TMR Study

• Massive utilization of application specific integrated circuits (ASIC) in consumer electronics to steer vast revenue streams, particularly in Asia Pacific market; firms capitalizing on abundant demand in numerous applications in automotive and aerospace industries
• Versatility and low level of complexity of semi-custom ASICs bolstering preference in various applications, continuous design advancements to unlock new value propositions

WILMINGTON, Del., Oct. 5, 2022 /PRNewswire/ -- An in-depth study by TMR assessing the application specific integrated circuit (ASIC) market growth dynamics found that cost-effectiveness of the ICs in several high-volume applications has created massive lucrative demand. End-use industries such as consumer electronics, telecom, and aerospace are increasingly preferring ASIC integration into electronic circuits. The application specific integrated circuit (ASIC) market is forecast to advance at a CAGR of 8.3% from 2022 to 2031.

Need for high-performance electronic assembly for various applications in the automotive and aerospace industries is a key underpinning for growing R&D in ASICs. Stridently, continuous expansion of these industries will spur revenue generation during the forecast period. These industries are increasingly adopting ICs that can be made according to custom design specifications.

Request Sample Report at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17768

Key Findings of Application Specific Integrated Circuit (ASIC) Market Study

• Range of Applications in Aerospace Industry to Expand Avenues: Numerous high-end applications in the aerospace industries have created vast profitable avenues that players have capitalized on over the past few years. A case in point is the use of ASIC-based electronics in cockpit lighting control application. Growing use in maritime security will generate lucrative demand for products in application specific integrated circuit (ASIC) market.
  
  
• Rising Adoption in Consumer Electronics to Generate Massive Growth Opportunities: Proliferating demand for wide range of consumer electronics has spurred design and performance advancements in ASICs used. Application specific integrated circuits are attracting consumer electronics manufacturers for their remarkable combination of low power consumption and high-performance benefits. Of note, the study found that focus on miniaturization of electronics for consumer gadgets will open up new frontiers in the near future, indicate recent application specific integrated circuit (ASIC) market trends.
  
  
• New Designs in Semi-custom ASICs Pivots Value-Grab Opportunity: Semi-custom ASICs present a massive avenue for commercialization of these circuits, found a study by TMR analysts on evaluating application specific integrated circuit (ASIC) market scope. Of note, the segment is anticipated to lead the market during the forecast period. Evidently, application specific integrated circuit manufacturers are harping on versatility and simplicity of hierarchy as key value propositions to attract customers. Evidently, unveiling new designs will reinforce the growth prospects of the application specific integrated circuit (ASIC) market.

Ask for References - https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=17768

Application Specific Integrated Circuit (ASIC) Market: Key Drivers

• Consistently growing demand for ICs with high performance and low power consumption in consumer electronics is a key driver of the application specific integrated circuit (ASIC) market. Rising volumes of production and growing shipment of range of high-end consumer electronics has propelled the growth prospects.
• Growing popularity of organic electronics in low-power electronic circuits along with emphasis on reducing manufacturing cost is expanding the avenue in application specific integrated circuit (ASIC) market.

Application Specific Integrated Circuit (ASIC) Market: Regional Growth Dynamics

• Opportunities in the Asia Pacific market are anticipated to rise rapidly during the forecast period. The revenue growth is invigorated by rising adoption of ASICs in consumer electronics. China held a key share of the regional market in 2021, underpinned by rise in volumes of production of application ASICs as well as their uptake in various end-use industries.
• North America is a remarkably profitable region for industry players in the global application specific integrated circuit (ASIC) market. The region held a key application specific integrated circuit (ASIC) market share in 2021. Widespread adoption of the products in aerospace and automotive industries has generated sizable revenues in the regional market, making it highly attractive for ASIC manufacturers.

Make an Enquiry before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=17768

Application Specific Integrated Circuit (ASIC) Market: Competition Landscape

The TMR study found that relatively few vendors largely control the dynamics of demand and supply in the application specific integrated circuit market, rendering the landscape highly consolidated.

Some of the key players are OmniVision Technologies, Synopsys, Inc., STMicroelectronics, Qualcomm Technologies, Inc., Maxim Integrated, Intel Corporation, Infineon Technologies AG, and Honeywell International Inc.

Application Specific Integrated Circuit (ASIC) Market Segmentation

• Type
• Full-Custom ASIC
• Semi-Custom ASIC
• Array Based
• Cell Based
• Programmable ASIC
• Field-Programmable Gate Array (FPGA)
• Programmable Logic Device (PLD)
• Application
• Wireless Communication
• Inferencing Applications
• Acceleration and Storage
• Video & Broadcast
• Process and Quality Control
• Security and Surveillance
• Electrical Distribution
• End-use Industry
• IT & Telecommunication
• Industrial
• Media & Entertainment
• Automotive
• Healthcare
• Aerospace
• Consumer Electronics
• Others (Power and Energy, Semiconductor, etc.)

Regions Covered

• North America
• South America
• Europe
• Asia Pacific
• Middle East & Africa

Countries

• U.S.
• Canada
• U.K.
• Germany
• France
• China
• India
• Japan
• South Korea
• ASEAN
• GCC
• South Africa
• Brazil

Electronics and Semiconductors Research Reports

Multilayer Ceramic Capacitor (MLCC) Market- Multilayer Ceramic Capacitor (MLCC) Market is expected to reach US$ 23.29 Bn by the end of 2031

Magnetometer Sensor Market- Magnetometer Sensor Market is expected to reach the value of US$ 6.24 Bn by the end of 2031

Temperature Sensor Market- Temperature Sensor Market is expected to reach value of US$ 10.6 Bn by the end of 2031

Transformer Market- Transformer Market is expected to reach US$ 48.18 Bn by the end of 2031

Electronic Access Control Systems Market- Electronic Access Control Systems Market is expected to cross the value of US$ 17.79 Bn by the end of 2031

Solid State Drive Market- Solid State Drive Market is expected to cross the value of US$ 178 Bn by the end of 2031

Microcontrollers Market- Microcontrollers Market is expected to reach the value of US$ 54.37 Bn by the end of 2031

About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel – 
https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact Us:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: 1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg