High Adoption of Consumer Electronics to Elevate Digital IC Market Position And Digital IC Market Size 2023
January 22, 2020 by Market-NewsFlash
The global digital integrated circuit (IC) market value in 2017 was USD 249.37 billion and can attain a valuation of USD 387.82 billion by 2023, states Market Research Future (MRFR). The growth rate of the market during the forecast period (2018 to 2023) is expected to be 7.64%, adds MRFR.
Market Boosters and Key Barriers
Rising adoption of consumer electronics works in favor of the global digital IC market. Many of the consumer electronics make use of digital IC, on account of the growing focus on improving the digital experience for customers among system integrators. Therefore, rising adoption of consumer electronics also boosts demand for digital ICs, which in turn stimulates market growth.
Considerable investments in autonomous cars seems to boost market demand. Autonomous vehicles do not interact with humans and help bring down the workload, which elevates their demand among consumers. Such vehicles are highly dependent on actuators, powerful processors and sensors to execute the software which requires digital ICs for the conversion of analog signals to digital signals.
Soaring demand for smartphones helps accelerate demand for NAND Flash memory IC, DSP, logic ICs, and others. Besides, the rising trend of bring your device (BYOD), the adoption rate of tablets all over the world has boosted the demand for memory ICs. Therefore, high adoption of smartphones and tablets can leave a profound effect on the market in the coming years.
The primary segments of the worldwide digital IC market are component, raw material and end-user.
Considering the component, the market includes memory (DRAM, Flash, SRAM, EPROM, and others), microcontroller, microprocessor, digital signal processing system, and others. The memory segment is leading the digital IC market.
Depending on the raw material, the market has been split into gallium arsenide, silicon, and others. The silicon sub segment controls the largest share in the worldwide market.
The end-users in the market are industrial, automotive, communication, consumer electronics, and others.
North America, Asia Pacific (APAC), the Middle East & Africa and Europe are the primary markets for digital IC.
High development of technology along with substantial investments in the development of latest products by renowned players drives the market growth in APAC. Surge in smart cities in the region also benefits the market, as smart cities require an IoT network that contains microcontroller units (MCUs), several ICs like power ICs and communication ICs along with various sensors and extensive software.
Brows Full Report@ https://www.marketresearchfuture.com/reports/digital-ic-market-4344
The leading players in the worldwide digital IC market include Intel Corporation (US), Qualcomm Incorporated (US), Samsung Corporation (South Korea), Taiwan Semiconductor Manufacturing Co. Ltd (Taiwan), Integrated Device Technology Inc. (the US), NXP Semiconductor NV (Netherlands), Infineon Technologies AG (Germany), Skyworks Solutions Inc. (US), Lattice Semiconductor Corporation (US), Texas Instruments Inc. (US), Analog Devices Inc. (US), STMicroelectronics NV (Switzerland), Nvidia Corporation (US), SK Hynix, Inc. (South Korea), Micron Technology Inc. (US), MediaTek Inc. (Taiwan), Toshiba Corporation (Japan), Broadcom Ltd (Singapore), Maxim Integrated Products Inc. (US), to name a few.
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