Application-Specific Integrated Circuits (ASICs) Global Industry Research Report 2024-2030: Rising Use in Cryptocurrency Mining and Blockchain Applications Supporting Market Growth

Dublin, Oct. 15, 2024 (GLOBE NEWSWIRE) — The “ASIC – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

The global market for ASIC was estimated at US$24.6 Billion in 2023 and is projected to reach US$41.7 Billion by 2030, growing at a CAGR of 7.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growing demand for high-speed, energy-efficient processing in industries such as telecommunications, automotive, and consumer electronics is driving the adoption of ASICs. For instance, in the automotive industry, ASICs are being increasingly used in advanced driver-assistance systems (ADAS) and autonomous vehicles, where real-time processing is critical. As devices and systems become more complex and data-driven, the precision and power-saving attributes of ASICs are becoming indispensable.

The growth in the ASIC market is driven by several factors, including the increasing demand for energy-efficient solutions, the rise of AI and machine learning applications, and the growing adoption of ASICs in emerging technologies such as autonomous vehicles and 5G networks. In the telecommunications sector, the deployment of 5G infrastructure is pushing demand for ASICs due to their ability to handle the high data throughput and low latency required by next-generation networks.

Similarly, the cryptocurrency industry’s reliance on ASICs for mining operations, due to their superior hashing power and energy efficiency, has also contributed to market expansion. The increasing use of ASICs in AI accelerators, where they help process complex algorithms faster and more efficiently, is another major growth driver. Finally, the trend towards miniaturization and integration in consumer electronics, such as smartphones and wearables, is further propelling demand for ASICs as companies seek to optimize performance while reducing energy consumption.

How Is Technology Pushing the Boundaries of ASIC Development?

Technological advancements are reshaping the development and capabilities of ASICs, allowing for greater customization, efficiency, and integration. The shrinking size of semiconductor nodes, thanks to innovations in fabrication technologies, has enabled the production of more powerful yet energy-efficient ASICs. For instance, the shift towards 5nm and even smaller process nodes allows more transistors to fit on a chip, enhancing performance while reducing power consumption.

Furthermore, the rise of AI and machine learning applications is pushing the boundaries of ASIC design, as companies are developing specialized chips to handle the high computational demands of these technologies. Advances in Field-Programmable Gate Array (FPGA) technology, which can be converted into ASICs, are also playing a significant role in accelerating the development process, allowing designers to prototype and validate ASIC designs more quickly and accurately.

What Regulatory and Market Challenges Are Shaping the ASIC Industry?

The ASIC market is not without its challenges, particularly when it comes to the long lead times and high upfront costs associated with developing custom chips. Regulatory factors also play a significant role, especially in industries such as telecommunications and automotive, where ASICs must meet strict standards for safety, reliability, and security.

For example, ASICs used in medical devices must adhere to FDA guidelines, while those deployed in automotive systems are subject to rigorous ISO certifications. Additionally, concerns around intellectual property protection and chip security are growing as ASICs become more prevalent in sensitive applications like encryption and financial transactions. Despite these challenges, the continuous evolution of chip design software and manufacturing technologies is enabling more companies to invest in ASIC development, as the long-term benefits often outweigh the initial costs.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Full custom Design ASIC segment, which is expected to reach US$10.2 Billion by 2030 with a CAGR of a 6.8%. The Semi-Custom Design ASIC segment is also set to grow at 8.4% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $6.7 Billion in 2023, and China, forecasted to grow at an impressive 7.3% CAGR to reach $6.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Analog Devices, Inc., Infineon Technologies AG, Intel Corporation, and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Attributes:

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of COVID-19 and a Looming Global Recession
• ASIC – Global Key Competitors Percentage Market Share in 2024 (E)
• Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Rising Demand for Customized ICs in Automotive Applications Driving ASIC Market Growth
• Increased Adoption in Telecommunications for Enhancing Network Capabilities Fuelling Demand
• Growth of Consumer Electronics Market Boosting Need for ASICs
• Technological Advancements in ASIC Design Creating Opportunities for Market Expansion
• Rising Use in Cryptocurrency Mining and Blockchain Applications Supporting Market Growth
• Increasing Demand for Power-Efficient Solutions in IoT Devices Fuelling Adoption
• Expansion of AI and Machine Learning Applications Driving ASIC Integration
• Growing Focus on Miniaturization of Electronic Devices Enhancing ASIC Market Demand
• Rising Investment in 5G Infrastructure Creating Opportunities for ASIC Development
• Surge in Data Center and Cloud Computing Requirements Supporting ASIC Utilization

FOCUS ON SELECT PLAYERS (Total 44 Featured)

• Analog Devices, Inc.
• Infineon Technologies AG
• Intel Corporation
• Maxim Integrated Products, Inc.
• NXP Semiconductors NV
• ON Semiconductor Corporation
• Qualcomm, Inc.
• Renesas Electronics Corporation
• STMicroelectronics
• Texas Instruments, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/no49wx

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