LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global physical intellectual property (IP) market size is projected to grow to USD 1.9 billion by 2021, at a CAGR close to 12% during the forecast period.
This research report titled ‘Global Physical Intellectual Property Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|APAC is the leading regional segment, generating the highest revenue while continuing to progress faster than the other segments of the market. The driving factors behind the dominance of APAC is the higher concentration of major semiconductor foundries, fabless semiconductor companies, and consumer electronic device manufacturers in the region.|
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Based on application, the report categorizes the global physical intellectual property market into the following segments:
- Mobile computing devices
- Consumer electronic devices
- Industrial automation
The top three revenue-generating application segments in the global physical intellectual property market are discussed below:
Mobile computing devices
“Mobile computing devices form the key application segment of the global intellectual property market, generating over 53% of the overall revenue. It is expected to continue growing faster than the market average, driven by the proliferation of mobile computing devices such as smartphones, tablets, laptops, and ultrabooks,” says Navin Rajendra, one of the lead analysts at Technavio for embedded systems research.
Manufacturers of mobile computing devices are integrating advanced technology such as augmented reality, gesture recognition, haptics, and virtual reality into their devices. To successfully integrate all these features into a single device, they require third-party intellectual property blocks, thereby driving market growth.
Consumer electronic devices
The consumer electronics segment of the market is projected to grow swiftly, driven by increasing adoption of devices such as digital video disc (DVD) players, gaming consoles, home automation devices, such as dishwasher and smart thermostats, and smart TVs. The major demand for physical IP from this segment is driven by the increasing adoption of smart homes. These homes have drastically increased the adoption of technologies such as Bluetooth low energy (BLE), Wi-Fi, and ZigBee, resulting in the drastic rise in the number of connected devices and thereby for physical IP market.
“The increasing demand for safety and security features in the automotive segment is driving the increasing adoption of smart features in vehicles. Also, automotive manufacturers are incorporating augmented navigation systems, intuitive and multi-modal user interfaces, multimedia support, and new generation of automotive cloud services into their vehicles,” says Navin.
Technavio analysts expect the trend of vehicle automation to result in increased adoption of system-on-chip (SoC) into automobiles during the forecast period, enhancing the need for third-party IP cores, and driving the growth of the market.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Cadence Design Systems
- Imagination Technologies
- Lattice Semiconductor
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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