The importance of the ASIC chip is evident in our daily lives. From the kitchen appliances to transportation, mobile devices, hospital, and medical equipment, ASIC chips are the main components.
Over the years, ASIC chips play an immense role in life. The market demands of consumer electronics and mobile devices are growing and that ASIC chips’ growth is undeniable.
ASIC is small in size but it performs a number of functions in just one tiny black chip. As the years progress, numerous ASIC chips are developed to cater to varying industry needs including the automobile industry.
Today, premium automobile manufacturers, medical and industrial workplaces are using sensor ASIC chips. ASIC and sensor ASIC chips will be highly in demand in the global market due to the surge in adoption in developing countries.
According to Allied Market Research, the ASIC chip market is projected to reach $28.05 billion in 2026. However, the lack of workforce and extra time needed in the production may affect market growth.
The global ASIC market is segmented by region, application, and type. Based on the region, the market is fragmented in Asia & The Pacific, Europe, North America, and LAMEA (Latin America, Middle East, and Africa).
By type, it is classified into Full Custom, Semi-Based Custom, and Programmable Logic Devices. Based on the application, the ASIC market is divided into consumer electronics, telecommunication products, wireless communication, medical instrumentation, aerospace subsystem and sensor, data processing systems.
The high demands of consumer electronics, hybrid cars, and health care monitoring systems will significantly drive the sales and production of ASIC and sensor ASIC chips.
It will be a trend in developed countries like the United States of America. Also, the numerous benefits ASIC chips are other growth factors that lead to increased demands in developing countries in the healthcare, transportation, media, retail, and automotive industries.
Top companies in the market
- Intel Corporation
- Maxim Integrated Products
- Analog Devices
- ON Semiconductor Corporation
- Texas Instruments
- Advanced Micro Devices
- Samsung Electronics
- Taiwan Semiconductor Manufacturing Company Limited
- Bitmain Technologies Holding Company
- Infineon Technologies AG
- Xilinx, Inc.
- Nvidia Corporation
ASIC and sensor ASIC market by country or region
- North America
- Rest of Europe
- South Korea
- Rest of Asia & Pacific
- Saudi Arabia
- The rest of LAMEA
ASIC market by application
- Consumer electronics
- Data Processing Systems
- Health and Medical Instrumentation
- Aerospace and others
It is projected that Asia and the Pacific region will experience the highest CAGR of 8.9% during (2019-2015) and an expected rise of 8.2% of CAGR for Global ASIC Chip market between 2015 – 2019.
The development of Application Specific Integrated Circuits provides numerous benefits including speed and efficiency. ASIC and sensor ASIC chips are also empowering different industries, private and public sectors towards digital transformation.
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