The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

 

The Business Research Company’s Application Specific Integrated Circuit Global Market Report 2024 offers crucial insights into the application specific integrated circuit market help businesses analyse and build stronger strategies.

 

 

The growing adoption of cryptocurrencies is expected to propel the growth of the application specific integrated circuit market going forward. Cryptocurrencies, utilizing encryption methods, serve as both a medium of exchange and a virtual accounting system. ASIC devices are crucial in mining cryptocurrencies due to heavy and advanced computing requirements. The surge in cryptocurrency adoption significantly expands the market.

Market Size Expansion

In 2021, the cryptocurrency market nearly tripled to reach an all-time high of $2.5 trillion according to the International Monetary Fund and other financial institutions. This substantial growth underscores the increasing relevance of cryptocurrencies, consequently driving demand for ASIC devices.

Key Players

Major companies driving the ASIC market include Infineon Technologies AG, Intel Corporation, Qualcomm, and others. These firms are poised to capitalize on the rising demand for ASICs fueled by cryptocurrency adoption.

 

 

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Technological Advancement Enhancing Network Edge Protection

Focus on Technological Advancement

Technological advancement emerges as a key trend in the ASIC market, with major players prioritizing innovation to bolster their market positions. Notably, companies are developing cutting-edge technologies to enhance network edge protection, a critical aspect of modern cybersecurity.

Innovative Solutions

Fortinet’s launch of FortiSP5 exemplifies this trend. The latest ASIC technology offers significant advancements in securing dispersed network edges, boasting improved computing power, lower cost, and enhanced encryption capabilities. Such innovations address the evolving cybersecurity landscape and contribute to market growth.

Qualcomm’s Strategic Acquisition

In March 2021, Qualcomm Incorporated’s acquisition of NuVia Inc. for $1.4 billion demonstrates a commitment to technological leadership in the ASIC market. This strategic move aims to enhance Qualcomm’s position in various ecosystems while fostering the development of high-performance computing systems.

 

 

Market Segmentation and Regional Outlook

Segmentation Overview

The application specific integrated circuit market is segmented based on product type, application, and end-use industry. This segmentation allows for targeted strategies to address diverse market needs effectively.

Product Segmentation

The market encompasses Full Custom ASIC, Semi-Custom ASIC, and Programmable ASIC, catering to different application requirements and preferences.

Application and End-Use Segmentation

Applications such as Wireless Communication, Inferencing, Acceleration and Storage, and Security and Surveillance, among others, drive demand for ASICs across industries like IT, Telecommunication, Automotive, and Healthcare.

Regional Dynamics

North America led the ASIC market in 2023, with Asia-Pacific projected to experience the fastest growth. This regional outlook underscores the global nature of ASIC market expansion and the significance of regional strategies in capturing emerging opportunities.

 

 

Conclusion

The application specific integrated circuit market is witnessing robust growth, driven by factors such as cryptocurrency adoption, technological advancements, and strategic acquisitions. Major players in the industry are innovating to address evolving market demands, enhancing network edge protection and advancing computing capabilities. With a diverse market segmentation and promising regional outlook, the ASIC market is poised for sustained expansion in the coming years.

 

 

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The Application Specific Integrated Circuit Global Market Report 2024 provides a comprehensive outlook of the application specific integrated circuit market for the historic years (2010 -2021) and ten years forecast (2023 – 2032).The application specific integrated circuit market forecast offers a thorough analysis onapplication specific integrated circuitmarket size, application specific integrated circuit market share,prominent players and their strategies.

 

 

The Table Of Content For The Application Specific Integrated Circuit Market Include:
1. Application Specific Integrated Circuit Market Executive Summary
2. Application Specific Integrated Circuit Market Segments
3. Application Specific Integrated Circuit Market Size And Application Specific Integrated Circuit Market Growth Rate
4. Key Application Specific Integrated Circuit Market Trends
5. Major Application Specific Integrated Circuit Market Drivers
……
25. Key Mergers And Acquisitions In The Application Specific Integrated Circuit Market
26. Top Application Specific Integrated Circuit Companies
27. Application Specific Integrated Circuit Market Opportunities And Strategies
28. Application Specific Integrated Circuit Market, Conclusions And Recommendations
29. Appendix

 

 

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