DUBLIN--(BUSINESS WIRE)--The "Semiconductor IP Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Source, and Industry Vertical" report has been added to ResearchAndMarkets.com's offering.
The semiconductor IP market is expected to grow from US$ 4,951.9 million in 2021 to US$ 9,670.4 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2021 to 2028.
Modular nature that enables integration flexibility resulting in high demand for advanced IC's from the manufacturing sector, design complexities of consumer electronic devices coupled with continuous advancements in technology, and growing needs for facilitating lesser time-to-market for designing high-functionality chips are the prominent factors driving the semiconductor IP market growth.
The escalating demand for IoT-based solutions across industries and emerging integration of consumer electronics in the automotive industry hold potential opportunities for the semiconductor IP market players to grow in the coming years.
Based on type, the semiconductor IP market is segmented into processor SIP, interface SIP, physical SIP, analog SIP, and others. The processor SIP segment accounted for the largest market share in 2020. This IP forms the core of all electronic devices and finds applications in manufacturing laptops, tablets, smartphones, wearable devices, networking devices, embedded intelligence, and many more consumer electronic devices.
The growing demand for connectivity for enabling communication between the devices or machine-to-machine communication the preference for interface components in designing the circuit has also gained huge importance. The interface SIP incorporates various standard protocols for establishing connectivity between various devices.
The semiconductor IP market in North America is expected to hold the largest market share in 2020. The rapid pace of technological developments and supportive government regulations contribute to the position of North America in the semiconductor IP market. High individual spending capacities in the US and Canada have led to the exponential sales of consumer electronics devices, such as smartphones, tablets, laptops, personal computers, and wearable devices.
Asia Pacific is estimated to register the highest CAGR in the semiconductor IP market owing to the rising adoption of advanced technologies such as IoT, Blockchain, and networking systems. A surge in consumer spending for electronic gadgets, increasing investments in smart cities, and growing demand for 5G networks for efficient communications are the potential factors propelling the use of semiconductor IPs in Asia Pacific.
Key Market Dynamics
- Modular nature enabling integration flexibility coupled thereby generating high demands from the manufacturing sector worldwide
- Design complexities of consumer electronic devices coupled with consistent innovations in the sector
- Growing needs for facilitating lesser time-to-market for designing high functionality chips
- Lack of uniformity in business practices coupled with a complex business model
- Proliferation of IoT and connected devices across industry verticals
- Emerging integrations of consumer electronics in the automotive industry
- Manufacturing of advanced sensors for autonomous vehicles
- Arm Holdings Plc
- Faraday Technology Corporation
- Ceva, Inc.
- eMemory Technology Inc
- Imagination Technologies Group Plc
- Lattice Semiconductor Corporation
- Rambus Inc.
- Intel Corporation
- Xilinx, Inc.
- Cadence Design Systems, Inc.
- Verisilicon Holdings Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/cgf5tz