According to a new report Global ASIC Chip Market, published by KBV Research, The Global ASIC Chip Market size is expected to reach $24.7 billion by 2025, rising at a market growth of 8.2% CAGR during the forecast period. Factors such as advances in chip technology, increased demand for ASIC chips in consumer electronics, and increased demand for customizable ICs have fuelled the growth of the global market for ASIC chips. Nonetheless, lack of skilled labor and extra time-consuming development serve as a major constraint, hindering the growth of the market. In addition, the rise in ASIC chip adoption in developing countries and the increase in smart computing devices provide lucrative opportunities for the global growth of the ASIC chip market.
The Data Processing Systems market dominated the Global ASIC Chip Market by Application 2018. The Consumer Electronics market is experiencing a CAGR of 9.9% during (2019 - 2025). Additionally, The Telecommunication Systems market is anticipated to witness CAGR of 7.3% during (2019 - 2025).
Based on the ASIC Chip market analysis, the semi-based custom segment produced the highest revenue in 2018. The segment was followed by the programmable logic chip segment grows a CAGR of 8.5% during (2019 - 2025).
The rapidly increasing penetration of smartphones among the population and the increasing demand for energy-efficient products has helped the Asia Pacific region in experiencing the highest market growth. Emerging economies like China, India, and Japan are also pushing market growth as a result of increasing penetration of high-tech gadgets, automotive electronics production, increased need for miniaturization, economic development, increased digitization, rapid industrialization, and other factors. The Europe market is poised to grow at a CAGR of 7.5% during (2019 - 2025). Additionally, The North America market is expected to witness a CAGR of 7.3% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/asic-chip-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Advanced Micro Devices, Inc., Samsung Electronics Co., Ltd. (Samsung Group), ON Semiconductor Corporation, Xilinx, Inc., Taiwan Semiconductor Manufacturing Company Limited (TSMC), Intel Corporation, Infineon Technologies AG, Bitmain Technologies Holding Company, Nvidia Corporation, and Texas Instruments, Inc.
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