The Application Specific Integrated Circuit (ASIC) market is growing persistently recently mainly due to the burgeoning crypto-currency market and the prominence of ASIC in crypto-currency mining machines. ASIC also witnesses a significant demand from another rapidly increasing ICT market which is escalating the global Application Specific Integrated Circuit market to the exponential heights on the global platform.
Acknowledging the vast growth this market is garnering currently, Market Research Future (MRFR) in its recently published study asserts that the global application specific integrated circuit market will reach 32 BN by 2023 posting a 9% CAGR from during the anticipated period (2017-2023).
MRFR has segmented its analysis into three key dynamics for enhanced understanding.
By Product Types: Full Custom Design, Semi-Custom Design (standard cell-based and gate array based ASIC, others.), and Programmable ASIC among others.
By Applications: IT & Telecommunication, Industrial, Automotive, and Consumer Electronics among others.
By Regions: North America, Europe, APAC and Rest of the World.
North America Application-Specific Integrated Circuit Market Size is dominating the global market attributing to the huge demand of security system and business intelligence. The region is followed by Europe region.
The Asia Pacific region, on the other hand, is emerging as the fastest growing market attributed to the augmented market penetration of smartphones and the demand for energy-efficient devices. China, India, and Japan are driving the regional market growth owing to the growing penetration of high-tech gadgets, increased requirement of miniaturization, developments of auto electronics, economic development, growing digitization, rapid industrialization among other factors.
The global ASIC market appears to be highly competitive, characterized by the presence of a number of small &big players. Matured companies incorporate acquisition, partnership, collaboration, technology launch, and expansion in order to gain a competitive advantage in this market and thus, maintain their market position.
Managing the cost of raw materials remains a top priority for manufacturers continuing to be concerned about coping with these pricing fluctuations, and many firms are seeking new ways to mitigate risks associated with raw materials instability.
Some of the eminent leaders of the market include Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), STMicroelectronics N.V (Switzerland), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), Maxim Integrated Products Inc. (U.S.), ON Semiconductor (U.S.), Analog Devices, Inc.(U.S.), NXP Semiconductors N.V (The Netherlands), Linear Technology Corporation (U.S.), and Qualcomm, Inc. (U.S.)
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