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ASIC Chip Market size was valued at USD 22.40 billion in 2022 and is poised to grow from USD 24.64 billion in 2023 to USD 52.82 billion by 2031, growing at a CAGR of 10% in the forecast period (2024-2031).

ASIC chip companies are investing heavily in the research and development of new ASIC chips with enhanced performance and smaller form factors as the miniaturization of devices increases. The market is highly competitive with new players coming in with innovations and established players leveraging their robust R&D divisions to create new products. ASIC chip companies are also focusing on capitalizing on the rising popularity of the System-on-chip (SoC) trend to maximize their sales potential in the long run. 'Samsung Electronics Co. Ltd. (South Korea)', 'Infineon Technologies (Germany)', 'Renesas Electronics Corporation (Japan)', 'Nvidia Corporation (US)', 'Arm Holdings (UK)', 'Intel Corporation (US)', 'Advanced Micro Devices, Inc. (US)', 'Silicon Laboratories Inc. (US)', 'Bitmain Technologies Ltd. (China)', 'Texas Instruments (US)', 'ON Semiconductor (US)', 'Qualcomm Inc. (US)', 'Xilinx, Inc. (US)', 'MediaTek Inc. (Taiwan)', 'NXP Semiconductors N.V. (Netherlands)', 'Taiwan Semiconductor Manufacturing (Taiwan)', 'Broadcom Inc. (US)', 'Lattice Semiconductor Corporation (US)', 'STMicroelectronics N.V. (Switzerland)', 'Microchip Technology Inc. (US)'

The rising proliferation of IoT devices in different industry verticals is slated to emerge as a key driver for ASIC chip demand in the future. Demand for chips and semiconductors that are energy-efficient, small in size, and capable of delivering high performance is what will boost the adoption of ASIC chips in IoT applications.

Accelerated Adoption of AI and Edge Computing: ASIC chips can be used to power specific applications such as edge computing, autonomous vehicles, and data centers that require chips that can perform specific tasks at a rapid pace. The increasing use of IoT devices and rising demand for AI algorithms in miniaturized devices is also creating opportunities for ASIC chip suppliers in the long run.

The presence of robust semiconductor manufacturing activity in the Asia Pacific region allows it to hold a dominant share of the ASIC chip market. Increasing sales of electronics and rising exports of semiconductors from this region contribute to its high market share. Japan, China, Taiwan, and South Korea are estimated to be key markets in this region as they are major electronics manufacturing hubs in this part of the world. Rising digitization in this region also contributes to growing ASIC chip demand.

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Global ASIC Chip Market

Product ID: SQMIG45N2090