New York, June 08, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Integrated Circuits Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/p06072081/?utm_source=GNW
The global integrated circuits market is expected to grow from $360.27 billion in 2020 to $391.58 billion in 2021 at a compound annual growth rate (CAGR) of 8.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $468.43 billion in 2025 at a CAGR of 5%.
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 increasing adoption of the Internet of things (IoT) is expected to drive the integrated circuits (ICs) market 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 and hence it is expected to drive the integrated circuits market.
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, electronic home appliances, such as televisions and remote controllers.
It makes difficult to develop highly reliable automotive ICs.For instance, consumers are demanding more automotive capability, car safety and high-reliability requirement and semiconductors play a major part in these innovative solutions.
Many of the semiconductors now part of Advanced Driver Assistance Systems (ADAS) are critical to the vehicle’s function and safety where faults cannot be tolerated. Therefore, complex designing of highly reliable automotive ICs hinders the market’s growth.
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.
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 millimetre-wave integrated circuits are mainly used in the development of 5G infrastructure, which creates a high demand for integrated circuits.
Deployment of 5G as the demand driver that will require semiconductors for infrastructure is expected to rise the revenue of semiconductors from US$422.8 billion in 2019 to US$448 billion in 2020.
In July 2020, Analog Devices, an America based Semiconductor manufacturing company acquired Maxim Integrated for $20.9B. Through this acquisition Analog Devices will be able to broaden its footprint in the markets, expanding sales of analog and mixed-signal integrated circuits, power management systems, radio frequency products, and digital processors and sensors. Maxim Integrated, an American, publicly traded company that designs, manufactures, and sells analog and mixed-signal integrated circuits.
Read the full report: https://www.reportlinker.com/p06072081/?utm_source=GNW
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