$1.43 Billion Growth in Semiconductor IP Market During 2020-2024 | 38% Growth to Come from APAC | Technavio
Global semiconductor IP market will grow by USD 7.31 billion during 2020-2024.
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Technavio has announced its latest market research report titled Global Semiconductor IP Market 2020-2024 (Graphic: Business Wire)
Amid the COVID-19 pandemic, the global semiconductor IP market registered a YOY growth of 4.78% in 2020 and the market is estimated to expand at a CAGR of over 5% during the forecast period. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios. - Get Free Sample Report Delivered Instantly to Know More
Semiconductor IP Market: Increasing design complexities to drive growth
Electronic device manufacturers are focusing on the development of high-performing and multi-functional devices. To cater to such growing needs in the electronics industry, semiconductor chip manufacturers are coming up with new and complex chip designs that use multi-core technologies. However, the incorporation of such complex designs might hamper the overall semiconductor product development process. This is leading to the high adoption of semiconductor IP licensing as semiconductor IPs can bridge the gap between design complexity and productivity. Therefore, increasing design complexities of semiconductor chips is expected to foster the growth of the global semiconductor IP market during the forecast period.
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As per Technavio, the proliferation of wireless technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Semiconductor IP Market: Proliferation of Wireless Technologies
The growing popularity of mobile computing has increased the deployment of wireless technologies worldwide. This is because wireless technologies offer connections that are equivalent to broadband and hlp end-users access the internet from anywhere at any time. The rising adoption of wireless technologies is leading to new SoC designs, which is increasing demand for physical semiconductor IP solutions. This trend is expected to positively influence the growth of the global semiconductor IP market over the forecast period.
"Launch of innovative products and technological advances will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Semiconductor IP Market: Major Vendors
The report covers details on the market's competitive landscape and offers information on the products offered by various companies, including:
Semiconductor IP Market: Segmentation Analysis
This market research report segments the semiconductor IP market by application (mobile computing devices, consumer electronics, automotive, industrial automation, and others), form factor (processor IP, physical IP, and digital IP), end-user (fabless semiconductor, IDMs, and foundries), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the semiconductor IP market in 2020, followed by North America, Europe, MEA, and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the presence of leading fabless semiconductor companies in the region.
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Related Reports on Information Technology Include:
Global Semiconductor Market - Global semiconductor market is segmented by product (ICs, optoelectronics, discrete semiconductors, and sensors) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Global Semiconductor Fabrication Software Market - Global semiconductor fabrication software market is segmented by solution (CAE, IC physical design and verification, PCB and MCM, fab management software, and others) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Some of the key topics covered in the report include:
Market Share by Competitors
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The New Era of Wireless Access and the Great Disconnect
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