LONDON, March 25, 2020 /PRNewswire/ — TheBusinessResearchCompany.com adds a latest report “Integrated Circuits Global Market Report 2020” to its research database. The report is spread across 150+ pages with a wide coverage on product types- Digital IC; Analog IC; Mixed-Signal.
Increasing Adoption Of Next-Generation Mobile Networks And IoT In The $412 Billion Integrated Circuits Market
Increased use of next-generation mobile networks, such as 4G and 5G, requires the installation of new infrastructure. Chipsets such as radio frequency integrated circuits, system on chips, application specific integrated circuits, cellular integrated circuits, and millimeter-wave integrated circuits are mainly used in the development of 5G infrastructure, which creates a high demand for integrated circuits. The deployment of 5G as the demand driver that will require semiconductors for infrastructure is expected to increase the revenue of semiconductors from US $422.8 billion in 2019 to US $448 billion in 2020. Read More On The Business Research Company’s Integrated Circuits Market Report @ https://www.thebusinessresearchcompany.com/report/integrated-circuits-global-market-report
The increasing adoption of the Internet of things (IoT) is also expected to drive the demand for integrated circuits (ICs) in the forecast period. ICs allow us to sense, understand, and transmit intelligent data. IoT is expected to boost the growth of the integrated circuit market, due to various benefits of using analog ICs across a wide range of real-time connected devices and applications. Analog ICs have efficient power consumption features and the signals processing capabilities needed to configure an automated devices ecosystem. For instance, according to the Gartner Symposium, there will be 25 billion internet-connected devices by 2021. Each of these devices will require ICs that contain embedded technology to communicate and sense or interact with the environment. Therefore, increasing the adoption of IoT devices will increase the demand for ICs, hence it is expected to drive the global integrated circuits market.
Integrated Circuits Market Growth And Segments
The global integrated circuits market was worth $412.3 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 5.09% and reach $502.94 billion by 2023. The integrated circuits market consists of sales of integrated circuits and related services that are used in various applications such as automobiles, telecommunication, aerospace and defense, and consumer electronics. Integrated circuit is a small chip that acts as an amplifier, an oscillator, a timer, and a memory computer. Integrated circuit is a small wafer that can accommodate hundreds to millions of transistors, resistors and capacitors.
The integrated circuits market covered in this report is segmented by product type into digital IC, analog IC and mixed-signal IC. It is also segmented by application into automotive, industrial, consumer electronics, IT & telecommunication, health care, aerospace & defense, and others.
Design Complexities In Automotive Integrated Circuits
Complexity in the design of automotive integrated circuits acts as a major challenge in the integrated circuits market. The structure chain of automotive IC is complex when compared to mobile phones and electronic home appliances, such as televisions and remote controllers. It makes it difficult to develop highly reliable automotive ICs. For instance, consumers are demanding more automotive capabilities, car safety, and sharing high-reliability requirements, and semiconductors play a major part in these innovative solutions. Many semiconductors that are now part of Advanced Driver Assistance Systems (ADAS) are critical to the vehicle’s functionality and safety, where faults cannot be tolerated. Therefore, complex designing of highly reliable automotive ICs hinders the integrated circuits market’s growth.
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Major Companies In The IC Market And Their Strategies
Major players in the global integrated circuits market include Intel Corporation, Texas Instruments , Analog Devices, STMicroelectronics, NXP, ON Semiconductor, Micron, Toshiba, Broadcom, Qualcomm, Maxim Integrated, ALBIC, Cypress, Microchip, IDT, Omron, AVX, Epson, Diodes, Infineon, NJR, Boeing, Atmel Corporation, NEC Corporation, Samsung, Taiwan Semiconductor, SK Hynix, and Nvidia.
Companies in the market are investing in mergers and acquisitions to strengthen their businesses. In March 2018, Microchip Technology, an American based manufacturer of microcontroller, mixed-signal, and integrated circuits, acquired Microsemi Corporation for a deal amount of $8.35 billion. With this acquisition, Microchip Technology can enhance its product portfolio and increase its position in computing, communications, and wireless systems applications. Microsemi Corporation offers a comprehensive portfolio of semiconductor and system solutions for communications, defense & security, aerospace, and industrial markets.
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