Latest News:- Programmable Application Specific Integrated Circuit (ASIC) Market: Consumer electronics is expected to lead the Application segment during 2024-2028

Programmable Application Specific Integrated Circuit (ASIC) Market to grow at a CAGR of 8.3% during 2024-2028

The Programmable Application Specific Integrated Circuit (ASIC) Market is expected to grow at a CAGR of 8.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1933.1 million. In today's business landscape, the integration of automation solutions, particularly in the industrial sector, is a key trend. Industrial robots, a significant component of automation, require Application Specific Integrated Circuits (ASICs) to execute specialized tasks efficiently. ASICs are custom-designed to cater to specific applications, ensuring optimal performance and energy efficiency in high-speed, low-latency environments. With the advent of advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) in industrial robotics, there is a growing demand for sophisticated ASICs capable of handling complex algorithms and data processing. Furthermore, the emergence of collaborative robots (cobots) necessitates custom-designed ASICs that enable real-time data processing and adaptability, enhancing overall robotic capabilities. 

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The Consumer electronics subsegment is expected to dominate the Application segment during the forecast period 

Technavio analysts predict that the Consumer electronics subsegment will lead the Application segment during 2024 and 2028 The Programmable Application-Specific Integrated Circuit (ASIC) market refers to the production and sale of customized ASICs designed to meet specific business requirements. These advanced semiconductor solutions offer enhanced performance, energy efficiency, and cost savings compared to general-purpose processors. Companies in various industries, including telecommunications, consumer electronics, and automotive, leverage programmable ASICs to gain a competitive edge by optimizing their hardware designs for unique applications.

Here are the various ways based on which the market is segmented: 

• Application
  • Consumer electronics
  • Telecommunication
  • Automotive
  • Others
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

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There are several factors that are causing the market to flourish growing demand for customizable ics

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Programmable Application Specific Integrated Circuit (ASIC) market is experiencing significant growth due to the increasing demand for advanced technology gadgets and high-performance computing applications. Semi-custom ASICs and full-custom ASICs are customized integrated circuits designed for specific applications, offering superior performance and power efficiency compared to general-purpose processors. Co-design solutions enable the collaboration between hardware and software teams, accelerating time-to-market and reducing development costs. Advanced electronic devices, such as IoT sensors for environmental monitoring, automotive applications, and telecommunications equipment, require custom ASICs for high-speed data processing, encryption, and protocol handling. Generative AI and machine learning algorithms are also driving the need for custom ASICs in high-performance computing applications. Mobile devices, tablets, and smartphones also rely on System-on-chip (SoC) solutions, which integrate multiple functions onto a single chip. Communication networks, base stations, switches, and routers require custom ASICs for packet switching and high-speed data processing. In summary, the Programmable ASIC market is poised for continued growth in various industries, including telecommunications, automotive, and consumer electronics.

Market Research Overview

The global semiconductor market encompasses semiconductor manufacturers, producing various types of integrated circuits (ICs) such as memory, logic, analog, micro components, optoelectronics, sensors, and discrete semiconductors. According to Technavio, the market size is determined by the revenue generated from the sale of semiconductor ICs to original equipment manufacturers (OEMs) and original design manufacturers (ODMs). These ICs can originate from both fab and fabless companies, including integrated device manufacturers (IDMs). The market's expansion will be fueled by significant investments in constructing new fabrication plants (fabs) and expanding existing ones.

The Programmable Application Specific Integrated Circuit (ASIC) Market is experiencing significant growth, fueled by the growing demand for customizable ics. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
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