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The rising popularity of cryptocurrencies is likely to spur innovation in application-specific integrated circuit fabrication, propelling the market during the forecast period.

The global application specific integrated circuit market is expected to grow from $15.23 billion in 2022 to $16.43 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The application specific integrated circuit market size is expected to reach $21.28 billion in 2027 at a CAGR of 6.7%.

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Global Application Specific Integrated Circuit Market Segments Include:

• By Product: Full Custom ASIC, Semi-Custom ASIC, Programmable ASIC
• By Application: Wireless Communication, Inferencing Applications, Acceleration And Storage, Video And Broadcast, Process And Quality Control, Security And Surveillance, Electrical Distribution
• By End-Use Industry: IT And Telecommunication, Industrial, Media And Entertainment, Automotive, Healthcare, Aerospace, Consumer Electronics, Other End-users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global application specific integrated circuit market in 2021.

Major Market Players in the application specific integrated circuit market include Infineon Technologies AG, Semiconductor Components Industries LLC, OmniVision Technologies Inc., Tekmos Inc., Seiko Epson Corporation, Socionext America Inc.

The primary trend gaining traction in the application-specific integrated circuit market is technological advancement. To increase their market position, major firms in the application-specific integrated circuit market are focusing on developing innovative technologies. For example, in February 2023, Fortinet, a US-based cybersecurity product manufacturer and distributor, announced FortiSP5, the most recent improvement in ASIC technology that makes substantial progress in safeguarding scattered network edges. FortiSP5 outperforms standard CPU and network ASICs in terms of secure computing power, as well as lower cost and power consumption and the capacity to provide new secure infrastructure spanning branches, campuses, 5G, edge computing, and operational technologies. It also offers 32 times quicker encryption to protect sensitive data and secure virtual private networks, among other things.

The Application Specific Integrated Circuit Global Market Report 2023  provides a application specific integrated circuit market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The application specific integrated circuit market forecast analyzes application specific integrated circuit market size, application specific integrated circuit market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An application specific integrated circuit (ASIC) is a circuit with a connection configuration optimised solely for a single application. Because ASIC is designed to perform a single purpose, it is faster than a programmable logic device or a standard logic integrated circuit.

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