At 8.6% CAGR, ASIC Chip Market Expected to Grow $28.04 Billion

ASIC Chip Market

According to a report published by Allied Market Research, titled, “ASIC Chip Market by Type (Full Custom, Semi- Based Custom, and Programmable Logic Devices) and Application (Aerospace Subsystem & Sensor, Wireless Communication, Medical Instrumentation, Telecommunication Products, Consumer Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026”, the Global ASIC Chip Industry was estimated at $14.87 Billion in 2018 and is expected to hit $28.04 Billion by 2026, registering a CAGR of 8.6% from 2019 to 2026.

Drivers, Restraints and Opportunities:

Advancement in chip technology, increasing demand for ASIC chip in consumer electronics, and growing demand for customizable ICs drive the growth of the global ASIC chip market. On the other hand, lack of skilled workforce curbs the growth to certain extent. Nevertheless, increasing adoption of ASIC chip in the developing region and rise in smart computing devices are expected to pave the way for a number of opportunities for the key players in the industry.

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The Semi-Custom ASIC Segment to Lead the Trail By 2026:

Based on type, the semi-custom ASIC segment contributed to more than two-fifths of the global ASIC chip market share in 2018, and is expected to retain its dominance from 2019 to 2026. These chips are extensively used in signal processing, general computing, and real time data computing, which has boosted the growth of the segment. The programmable ASIC segment, on the other hand, would register the fastest CAGR of 12.0% throughout the estimated period. This is because these chips are widely used in eliminating unwanted interference in signal transformation.

The Data Processing Systems Segment to Dominate during the Estimated Period:

Based on application, the data processing systems segment held the major share in 2018, generating more than one-fourth of the…

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