LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global application specific IC market to grow to USD 12.13 billion by 2021, at a CAGR of more than 17% over the forecast period, according to their latest report.
The research study by Technavio on the global application specific IC (ASIC) market for 2017-2021 provides detailed industry analysis based on the design (full custom, standard cell, and gate array), product (smartphone, TV, PC, automotive, tablet, laptop, smartwatch, smart band, and AR and VR), and geography (APAC, the Americas, and EMEA).
| Application specific integrated circuit (IC) is a chip that is designed to improve the performance of general-purpose CPUs. ASICs are hardwired to do a specific job and do not incur the overhead of fetching and interpreting stored instructions. Smartphones are the largest adopters of ASICs, where they are used for Bluetooth functions, charging system, transmission protocol, speed, and better performance. |
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio analysts highlight the following three factors that are contributing to the growth of the global application specific IC market:
- Declining average selling price (ASP) of electronic devices
- Growing demand for customizable ICs
- Increased use of consumer electronics
Declining average selling price (ASP) of electronic devices
“The decline in selling prices combined with the short replacement cycles of portable electronic devices such as smartphones, wearable, tablets, and laptops are creating a high demand for ASICs supporting new features and technologies,” says Navin Rajendra, a lead analyst at Technavio for embedded systems research.
For instance, the smartphone prices were nearly halved during 2012-2016, further adding to the growth of the market. Vendors are introducing application specific ICs to cater to the evolving requirements and technologies of consumer electronic devices.
Growing demand for customizable ICs
The evolving requirements of manufacturers have given rise to customized ICs, which can be modified and tweaked per the product demand. The rising demand for these customizable ICs from the industrial, automotive, healthcare, and other industries will contribute to the growth of the ASICs market over the forecast period.
The healthcare sector uses these ICs in different equipment such as electrocardiography (ECG) machine, ultrasound machine, digital X-ray, and computer tomography (CT) machine. Also, ASICs are becoming denser with the number of transistors being installed in wafers, increasing its usage in the market.
Increased use of consumer electronics
Consumer electronics encompasses smartphones, tablets, laptops, wearables, gaming consoles, digital cameras, and TVs. The advances in technologies such as touch screen monitors and displays, flat screens, and Bluetooth functions is creating a demand for a greater number of ICs.
“The growing adoption of smartphones and increasing competition among vendors is driving the demand for ASICs. The rising demand has also paved the way for advances in technology used in ASICs, which is further rising its adoption,” says Navin.
Browse Related Reports:
- Global Single Board Computer (SBC) Market 2017-2021
- Global Stroboscope Market 2017-2021
- Global Embedded Computer Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like displays, computing devices, and semiconductor equipment. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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.
If you are interested in more information, please contact our media team at media@technavio.com.
