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ASIC Chip Market
The global ASIC chip market growth is driven by advancement in chip technology, increase in demand for ASIC chip in consumer electronics, and surge in demand for customizable ICs” - David Correa
WILMINGTON, DELAWARE , UNITED STATES, October 7, 2023 /EINPresswire / -- Allied Market Research published a report on the ASIC Chip Market by Type, and Application: Global Opportunity Analysis and industry Forecast, 2019-2026.
The global ASIC Chip market size was valued at $14.87 billion in 2018, and is projected to reach $28.05 billion by 2026, growing at a CAGR of 8.6% from 2019 to 2026.
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Application-Specific Integrated Circuit (ASIC) is the type of integrated circuit (IC) that is designed for a specific purpose or specific application. An ASIC can improve speed as it is specifically configured to perform the desired function. Such type of chip is highly customized to provide superior performance in specific applications. However, ASIC cannot be altered once it is put into production.
The ASIC chips are majorly used in data centers. The application of chips in varied data center applications such as network systems, telecommunication switching, cellular base stations, optoelectronics, and wireless products act as an opportunity for the market. By keeping these beliefs in mind, semiconductor leaders can create a new road map for winning in AI. AI finds growth opportunities in the technology stack, focusing on the impact of AI on hardware demand at data centers. It then examines specific opportunities within compute, memory, storage, and networking and act as major ASIC chip market trends globally.
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Competitive Analysis:
The competitive environment of the ASIC chip industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, ASIC chip market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the ASIC chip industry include:
⦁AMD
⦁Texas Instruments
⦁On Semiconductor
⦁Xilinx Inc.
⦁Samsung Electronics Ltd.
⦁TSMC
⦁Intel Corporation
⦁Infineon Technologies
⦁Bitmain Technologies Ltd.
⦁NVIDIA Corporation
The global ASIC chip market size is expected to witness high growth rate during the forecast period, owing to high usage in smartphones, major rise in the portable electronic market, increase in popularity of Internet of Things (IoT), and robust demand in the automation industry. Further, emerging trend of wearable devices, connected cars, smart watches, connected homes, and others are expected to offer new opportunities for market growth. Technological development by the emerging economies in Asia-Pacific boosts the ASIC chip market growth.
The growth of the ASIC Chip market is driven by substantial growth in advancements in chip technology, increase in demand for ASIC chip in consumer electronics and rise in demand for customizable ICs has boosted the growth of the global market. However, lack of skilled workforce and time consuming process act as major restraints, thereby hampering the market growth. Furthermore, rising adoption of ASIC chip in developing countries and increase in smart computing devices offer lucrative opportunities for the ASIC chip market globally.
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Key Benefits for Stakeholders:
⦁This study includes the analytical depiction of the global ASIC chip market along with the current trends and future estimations to determine the imminent investment pockets.
⦁The ASIC chip market is determined to understand the profitable trends to gain a stronger foothold.
⦁The report presents information related to key drivers, restraints, and opportunities with a detailed impact on the ASIC Chip market analysis.
⦁The current ASIC chip market forecast is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
⦁Porter's five forces analysis illustrates the potency of the buyers and suppliers in the ASIC chip market.
⦁The report includes the ASIC chip market share of key vendors and ASIC Chip market trends.
About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
David Correa
Allied Market Research
+1 800-792-5285
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