Application Specific Integrated Circuit Market Regional Analysis

Asia-Pacific currently stands as one of the major markets in the global application specific integrated circuit market, with a remarkable revenue share of more than 48.0% in 2023. Various factors contribute to the enormous growth in demand for ASICs in the region. A few of the factors include rapid economic growth and increasing industrialization in the region, which are major drivers that fuel growing demand for energy-efficient devices in the region. Widespread use of smartphones in Asia Pacific further accelerated the growth of the market. The incidence of increased usage of such devices triggers the growth of the ASIC market, especially in developing countries such as China, Japan, and India. Other contributing factors have been the continuous digitization process, rising popularity of high-tech products, vehicle electronics improvements, and rising need for shrinking.

North America is predicted to witness a growth of 5.8% in the projection period. This growth is due to the fundamental strength in the region of well-setup companies such as Texas Instruments Inc., Qualcomm Inc., Intel Corporation, and Maxim Integrated Products Inc. As for the current market scenario, the US dominates North America. In the US, major breakthroughs are being witnessed in healthcare monitoring systems, electric and hybrid automobiles, and consumer electronics. North America is one of the largest ASIC manufacturers and solution providers as the region was the first to incorporate the technology.