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Lucintel Expects the Global ASIC Chip Market to Reach $34 Billion by 2027DALLAS, May 4, 2023 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global ASIC chip market looks promising with opportunities in the data processing, consumer electronics, telecommunication system, industrial, and other industries. The global ASIC chip market is expected to reach an estimated $34.4 billion by 2027 with a CAGR of 7.2% from 2021 to 2027. The major drivers for this market are increasing advancement in chip technology, rising demand for customizable ICs, and growing usage in consumer electronic devices. In this market, the semi-based custom ASIC chips will remain the largest segment over the forecast period due to its cost effectiveness, reduced risk, and time saving properties. Within this market, telecommunication system will remain the largest end use market due to the growing demand from various telephone landline networks, mobile networks, and cable TV networks. Asia Pacific is expected to remain the largest market by value and volume and it is also expected to witness the highest growth over the forecast period due to the growth in consumer electronic devices & telecommunication products. Emerging trends directly impacting the dynamics of this market includes advance 7-nm technology for ASIC fabrication and structured ASICs for 5G, AI, cloud, and edge workloads and development of ultra-small case size capacitors for portable electronic devices. AMD, ON Semiconductor Corporation, TSMC, Intel Corporation, Infineon Technologies, Samsung, Bitmain Technologies, Nvidia Corporation, Texas Instruments, Maxim Integrated Products. are among the major ASIC chip companies. Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global ASIC chip market by type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled "ASIC Chip Market Report: Trends, Forecast and Competitive Analysis [2022-2027]". For any questions related to ASIC chip market or related to ASIC chip market share, ASIC chip market analysis, ASIC chip market size and market growth, write us at - [email protected]. Related Reports: If you wish to deep dive on some other segments of technology industry then look into below relevant reports from Lucintel. Artificial Intelligence Chip Market Automotive Millimeter- Wave Radar IC Market About Lucintel Lucintel one of the premier global market research and management consulting firm, offering solutions for your growth through game changer ideas through robust market & unmet need analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. Contact Us
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