Global Programmable Application Specific Integrated Circuit (ASIC) Market to Cross USD 30 Billion by 2030

Published | 17 December 2024

Global Programmable Application Specific Integrated Circuit (ASIC) Market is flourishing because of an increasing demand for customized solutions and advancements in semiconductor technology.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Programmable Application Specific Integrated Circuit (ASIC) Market size at USD 17.9 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Programmable Application Specific Integrated Circuit (ASIC) Market size to expand at a CAGR of 9.30% reaching a value of USD 30.1 billion by 2030. Major growth factors for Global Programmable ASIC Market include rapid adoption of machine learning (ML) and artificial intelligence (AI) technologies, as well as the growing need for IC modification as a result of various sectors' need for unique system functionalities and performance levels.

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Opportunity - Advancements in Chip Production

The chip manufacturing companies are investing significantly in research and development programs to advance chip design and production. They are also boosting their production to meet the growing market demand. SEALSQ Corp., a semiconductor manufacturer based in Switzerland, for instance, announced the expansion in the development of custom application-specific integrated circuit (ASIC) projects in new markets, including Spain, India, and Saudi Arabia. The companies are also engaging in market strategies, such as acquisitions and collaborations, to gain a competitive edge over the market. For instance, DENTRESSANGLE Capital is in talks to acquire Presto Engineering, a France-based ASIC manufacturer.

Impact of Escalating Geopolitical Tensions on Global Programmable Application Specific Integrated Circuit (ASIC) Market

Intensifying geopolitical tensions could disrupt the growth of Global Programmable Application Specific Integrated Circuit (ASIC) Market. Regional wars and political unrest cause supply chain interruptions, which have a detrimental effect on technical advancement and the global supply chain. ASIC's operations, which include procuring raw materials, production, and distribution networks, are dependent on the global supply chain. Supply chain interruptions, however, may cause production to stall or be delayed as businesses struggle to get raw materials or completed goods. Furthermore, ASIC manufacturers' production costs may rise due to fluctuating energy prices or shortages, which would restrict their ability to expand their market. Research and development efforts are also hampered by geopolitical conflicts, which may inhibit innovation, particularly in technology fields like artificial intelligence (AI) and machine learning (ML), and affect market demand for ASIC.

Consumer Electronics Segment to Grow at Fastest CAGR

The consumer electronics segment holds the largest share of Global Programmable Application Specific Integrated Circuit (ASIC) Market. The favorable characteristics of these chips, including increased performance and efficiency, smaller size, and cost-effectiveness, make them suitable for a variety of consumer devices. The industry's adoption rate of ASIC is directly fueled by the rising demand for a variety of consumer devices, such as smartphones, tablets, gaming consoles, smart TVs, and others. However, the growing need for quality control, optimization, and predictive maintenance is expected to drive the industrial segment over the projected period. In industrial systems, ASIC is utilized to effectively combine these functionalities.

North America Leads Global Programmable ASIC Market

North America dominates Global Programmable Application Integrated Circuit (ASIC) Market. The significant presence of major industry players like Broadcom, GlobalFoundries, and Intel is the primary factor for the growth of North America Programmable ASIC Market. The regional market is expected to have lucrative growth opportunities as a result of the growing semiconductor manufacturing operations and the implementation of market strategies like acquisitions and partnerships. For example, Nvidia is in negotiations with Taiwan-based semiconductor manufacturer TSMC to produce AI chips in Arizona, United States.

Competitive Landscape

Major companies in Global Programmable Application Specific Integrated Circuit (ASIC) Market include TSMC, Intel, Samsung, GlobalFoundries, MediaTek, Broadcom, Qualcomm, Xilinx, AMD, Nvidia, ASIX Electronics, and STMicroelectronics. The presence of high number of companies intensify the market competition as they compete to gain a significant market share. These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and Global Programmable Application Specific Integrated Circuit (ASIC) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Programmable Application Specific Integrated Circuit (ASIC) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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