PORTLAND, Oregon, Dec. 13, 2019 /PRNewswire/ -- Allied Market Research published a report, 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." According to the report, 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 global ASIC chip market. This is due to the wide adoption of ASIC chips in data center applications such as network systems, telecommunication switching, cellular base stations, optoelectronics, and wireless products. At the same time, the consumer electronics segment would cite the fastest CAGR of 13.2% during the study period. Increase in penetration of ASIC chip in televisions, personal commuters, digital camera, video game consoles, and smartphones has driven the growth of the segment.
Asia-Pacific, followed by North America, to rule the roost
Based on geography, the region across Asia-Pacific accounted for nearly half of the global ASIC chip market revenue in 2018, and is projected to remain lucrative by the end of 2026, owing to various product launches and advancement in technologies in the semiconductor market. The same region is also expected to showcase the fastest CAGR of 9.9% throughout the estimated period. However, North America garnered the second major share in 2018.
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