ASIC Chip Market
Increasing Demand from Consumer Electronics Drives Market Growth
ASIC chip manufacturers are integrating leading-edge technology such as machine learning (ML), artificial intelligence (AI), and the Internet of Things (IoT) into consumer electronics products. Programmable application-specific integrated circuits (ASICs) are the supreme solution for consumer electronics manufacturers because they deliver the flexibility and processing power essential to support these advanced technologies. For better battery life, consumer electronics devices must consume as little electricity as possible. Programmable ASICs are designed to consume less power, making them an exceptional choice for consumer electronic appliances. Machine learning and AI are becoming progressively important in consumer electronics, predominantly in smart speakers and smartphones. Programmable ASICs deliver the computing power essential to support these technologies, making them the ideal choice for consumer electronic device manufacturers. In the consumer electronics division, the use of IoT devices is swiftly increasing. Programmable ASICs are an exceptional choice for consumer electronics manufacturers looking to manufacture IoT devices, as they can meet the processing and connectivity needs of IoT devices.
The rapidly increasing demand for tablets and smartphones is anticipated to propel market growth over the forecast period. ASICs help in fulfilling the smaller size and weight, high-bandwidth, low-cost, and long battery life requirements of advanced smartphones. Similarly, with the arrival of smart devices and electronic products such as laptops, televisions, digital cameras, wearables, and gaming consoles with advanced technologies such as flat screens, touchscreen displays, and Bluetooth functions, creating a demand for a higher number of ICs. Additionally, owing to the continually growing implementation of mechatronics across industrial applications, the demand for electronic components with ASICs has witnessed enormous growth over the years. Another factor boosting the ASIC chip market growth is the development of IoT devices. These circuits are also used in applications such as automotive emission control, environmental monitoring, and personal digital assistants. As the ASICs are capable of integrating both logic and analog functions, they help in the establishment of a whole mechanism on a single chip, which is anticipated to boost the ASIC chip market growth.
As technology companies attempt to discover ways to harness personal data and generate a universe of interconnected devices, the ASIC chip will remain the pillar of modern computing. Further, ASICs are chips designed for a customer’s specific software and hardware instead of standard-purpose ICs, which operate with numerous devices. Thus, the demand for ASIC chips is expected to grow substantially during the forecast period.
ASIC Chip Market Regional Analysis:
Growing demand for tablets and smartphones and increasing requirements for smart consumer appliances are boosting the ASIC chip market in Asia Pacific. The application-specific integrated circuit (ASIC) market is also growing owing to swelling demand for consumer electronics products such as smart wearables and smart TVs. China dominates the ASIC chip market, with the growing demand for tablets and smartphones and growing demand from smart consumer devices; this can drive the ASIC chip market during the forecast period. In Asia Pacific, there is a growing market for consumer electronic products, and programmable ASICs are being used in more and more of these products. For instance, in 2021, Samsung announced the creation of a new programmable ASIC for use in its 5G devices. As per the company, the new processor is the finest option for 5G handsets as it delivers increased power efficiency and higher data transfer rates.
Furthermore, the presence of several semiconductor companies, alongside key consumer electronics giants such as Samsung Electronics Co., Ltd. and LG Electronics, is expected to propel the growth trajectory of the ASIC market during the forecast period. In addition, Asia Pacific is observing a technological revolution in consumer electronics, with countries such as China, India, South Korea, and Japan at the forefront of this transformation. Owing to all these factors, the Asia Pacific ASIC market is anticipated to show continued expansion during the forecast period.
ASIC Chip Market: Competitive Landscape
Texas Instruments; Bitmain Technologies Ltd.; Infineon Technologies; Advanced Micro Devices, Inc.; Nvidia Corporation; Xilinx, Inc; Taiwan semiconductor manufacturing; Samsung Electronics Co. Ltd.; On semiconductor; and Intel Corporation are among the key ASIC chip market players profiled in the market study. Various other companies are introducing new product offerings to contribute to the market size proliferation. Several other important market players were also analyzed during this market research to get a holistic view of the global market and its ecosystem.
- According to the announcement by Alibaba Cloud, a novel cloud-based Programmable ASIC platform called X-Engine was created in 2021. The new platform leverages programmable ASICs to give processing performance that is more effective and faster, making it the precise option for data center applications.
