Product ID: UCMIG45N2068
Report ID:
UCMIG45N2068 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market size of Application Specific Integrated Circuits (ASICs) reached USD 16.4 billion in 2022 and is projected to experience a 5.7% Compound Annual Growth Rate (CAGR) from 2023 to 2032. The increased adoption of Artificial Intelligence (AI) and Machine Learning (ML) technologies has driven the demand for ASICs, as these applications necessitate specialized hardware for efficient execution of intricate computations. ASICs tailored for AI and ML tasks, such as neural network inference and training, offer enhanced processing capabilities and better energy efficiency compared to generic processors. The growing need for ASICs to optimize AI and ML functions is attributed to the widespread integration of these technologies across diverse industries.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Semiconductor Equipment by segment aggregation, the contribution of the Semiconductor Equipment in Semiconductors & Semiconductor Equipment and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG45N2068