Market Trends of Global Application Specific Computer Analog IC Industry
This section covers the major market trends shaping the Application Specific Computer Analog IC Market according to our research experts:
Consumer Electronics and Automotive Industry drive growth towards the market
- The opportunity arises, which leads to possible prospects within the worldwide regional ASIC market. As a result, the automobile sensor and its access memory towards the internet protocol cores and its initial assessment of the smooth working have provided a deeper grasp of the current trends. As a result, it can be concluded that this specific market optimizes its operations and has implemented a plan for maintaining a competitive advantage. The application's primary element is the increasing consumer electronics industry demand.
- The expansion of technologies such as the Internet of Things is used in smart electronic devices that are predicted to be employed in practically all industrial verticals, which will drive growth in the future. The emerging economies with government policies encourage the development of more electronic manufacturing units to increase the global analog IC market share.
- The increased usage of analog integrated circuits in LED applications such as traffic light indicators and data communication systems for power efficiency is likely to fuel market growth. The use of analog integrated circuits in medical and healthcare electronics and green energy management for residential and commercial buildings or premises propels the worldwide IC industry. The vehicle sector's usage of electronics in complex engine and safety controls, navigation, audio/video systems, hybrid electric drives, and LED lighting is likely to fuel Analog IC market demand. The advancement of the automotive sector in nations such as the United States, Australia, Norway, France, and Germany is predicted to impact the Analog IC market growth positively.
- The Advanced Driver Assistance System sector is expected to develop at a faster compound annual growth rate during the forecast period. The rising use of automotive integrated circuits, such as ICs, assures the safety of drivers and vehicles in this application. Furthermore, the growing use of sophisticated driver assistance systems in the automotive sector will enhance the use of automotive integrated circuits, accelerating the market development of this category even further.
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Asia-Pacific to Hold the Largest Market Share
- The Asia-Pacific is the fastest-growing market that has witnessed the widespread presence of electronic component manufacturers. Furthermore, the region's growing tech-savvy customer base propels the industry. Moreover, the region's increased penetration of smartphones and computer hardware drives the industry. The growing need for lightweight and small electronic gadgets drives the application-specific computer analog IC market growth.
- Additionally, rising passenger safety concerns and favorable government initiatives regarding vehicle regulations are some of the important factors driving the growth of the APAC application-specific computer analog IC Market.
- The government is investing money in developing the semiconductor market. For Instance, In December 2021, the Indian government authorized the 'Establishment of Gallium Nitride (GaN) Ecosystem Enabling Centre and Incubator for High Power and High-Frequency Electronics' to boost semiconductor manufacturing. The project is being carried out by Society for Innovation and Development (SID) at the Centre for Nano Science and Engineering (CeNSE), Bengaluru, under the auspices of the Indian Institute of Science (IISc) at a total cost of Rs 298.66 crore.
- With the constant expansion of China's economy and new applications such as cloud computing, 5G, Internet of Things, artificial intelligence (AI), and intelligent and connected cars, demand for China's integrated circuit market is expected to continue growing. Qiao Yueshan, head of the electronic information department at China's Ministry of Industry and Information Technology, said China's Integrated Circuit Industry growth rate was four times the world growth rate during the country's 13th Five-Year Plan period.
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