LONDON--(BUSINESS WIRE)--The interface IP market is expected to grow by USD 291.47 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio. Request a free sample report
The use of SoCs has grown substantially in the last five years. Smart electronics manufacturers have started integrating this technology into products such as wireless communication equipment, electrocardiogram machines, smartphones, and telemetry devices. Semiconductor chip manufacturers have developed the SoC technology to maintain pace with the rising need to embed more functions on a single IC. In SoC designs, pre-verified and pre-designed blocks called IP blocks or IP cores and virtual components are combined on a single chip. These IP cores are reusable and include interface blocks, embedded processors, memory blocks, and components for specific processing functions. The advantages of this technology include high on-chip frequencies, density of functions, reliability, and moderate unit costs. Thus, the increase in demand for SoC chips will drive the growth of the market during the forecast period.
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As per Technavio, the growing connected devices market will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Interface IP Market: Growing Connected Devices Market
The growing connected devices market will be one of the major factors driving the growth of the market during the forecast period. Connected devices offer benefits such as optimized decision-making, the ease of handling emergencies, cost-cutting, enhanced quality of living, remote control access, time management, commercial benefits, and better safety and security. The devices are connected via different wired and wireless protocols such as Bluetooth, Ethernet, LTE, near-field communication (NFC), PCIe, Wi-Fi, Thread, USB, and ZigBee. These wireless protocols enable M2M communication, helping devices to exchange and act upon information by eliminating human-to-human or human-to-computer interaction. However, developing SoCs that integrate wired and wireless protocols that enable communication between devices can be a challenge. Integrating all the functions on a single SoC requires high-quality, silicon-proven IP solutions. This will fuel the demand for interface IP, thereby driving the growth of the market.
“Factors such as the proliferation of wireless technologies, decrease in lithography wavelength, and the growth of in-vehicle networks will have a significant impact on the growth of the interface IP market value during the forecast period,” says a senior analyst at Technavio.
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Interface IP Market: Segmentation Analysis
This market research report segments the interface IP market by end-user (fabless semiconductor companies, IDMs, and foundries), type (USB, DDR, PCle, Ethernet, MIPI, and others), and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the interface IP market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the growth of semiconductor companies, especially in regions such as China and Taiwan.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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