What is the Historical Analysis of the Application Specific Integrated Circuit Market Size?
The application specific integrated circuit market has seen considerable growth due to a variety of factors.
• The market size for application specific integrated circuits has seen robust growth in recent years. An increase from $17.33 billion in 2024 to $18.46 billion in 2025 is projected, with a compound annual growth rate (CAGR) of 6.5%. Factors contributing to the growth during the historic period include cost effectiveness and performance enhancement, rising complexity in applications, market growth in the electronics and communication sectors, reduced design cycles, and growing integration in consumer electronics.
What Is The Projected Growth Of The Application Specific Integrated Circuit Market Size?
The Application Specific Integrated Circuit market is expected to maintain its strong growth trajectory in upcoming years.
• The market for application specific integrated circuits is predicted to experience significant expansion in the coming years. Its growth is anticipated to hit $24.45 billion by 2029 with a compound annual growth rate (CAGR) of 7.3%.
This growth during the forecast period can be linked to the surge in IoT devices and edge computing, the evolution of automotive electronics, the need for energy-efficient solutions, the increasing intricacy in semiconductor designs, as well as collaborations and partnerships. Prominent trends during the forecast period encompass the arrival of 5g technology, accelerated prototyping and time-to-market, security issues and solutions, advancements in process technologies, and a growing demand for customization.
What Are The Key Drivers Fueling Growth In The Application Specific Integrated Circuit Market?
The expansion of the application-specific integrated circuit market is being fuelled by the increasing acceptance of cryptocurrencies. Cryptocurrencies, a form of digital currency, are developed using encryption techniques. Thanks to encryption technology, cryptocurrencies act both as a transaction medium and a virtual financial management system. These ASIC devices play a vital role in cryptocurrency mining through intense and sophisticated computing, thus expanding the market. For example, a study conducted by the UK's Financial Conduct Authority in February 2023 showed an increase in the percentage of UK adults owning crypto assets from 3.9% to 4.4%, as well as an increase in individual investments from £260 to £300 in 2021. As a result, this surge in cryptocurrency adoption is contributing to the growth of the application-specific integrated circuit market.
What Are The Principal Market Segments In The Global Application Specific Integrated Circuit Industry?
The application specific integrated circuit market covered in this report is segmented –
1) By Product: Full Custom ASIC, Semi-Custom ASIC, Programmable ASIC
2) By Application: Wireless Communication, Inferencing Applications, Acceleration And Storage, Video And Broadcast, Process And Quality Control, Security And Surveillance, Electrical Distribution
3) By End-Use Industry: IT And Telecommunication, Industrial, Media And Entertainment, Automotive, Healthcare, Aerospace, Consumer Electronics, Other End-users
Subsegments:
1) By Full Custom ASIC: Standard Cell ASICs, Gate Array ASICs, Application-Specific Standard Products (ASSPs)
2) By Semi-Custom ASIC: Structured ASICs, Field-Programmable Gate Arrays (FPGAs), Cell-Based ASICs
3) By Programmable ASIC: Reconfigurable ASICs, Digital ASICs, Analog ASICs
Pre-Book The Application Specific Integrated Circuit Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Market Trends Are Altering The Application Specific Integrated Circuit Industry?
The key trend gaining momentum in the application-specific integrated circuit market is the progression of technology. Major companies in this industry are channelizing their efforts towards innovative technology development to cement their market standing. For example, in February 2023, US-based cybersecurity products manufacturer and supplier, Fortinet introduced FortiSP5, their latest leap in ASIC technology, which is highly instrumental in guarding spread-out network boundaries. Compared to conventional CPU and network ASICs, FortiSP5 offers notable advancements in secure computing power, lower costs, reduced power usage and the capacity to introduce new secure infrastructure across various areas such as branches, campuses, 5G, edge computing, and operational technologies. Additionally, it provides encryption that is 32 times speedier to defend sensitive information and secure virtual private networks, among other advantages.
Who Are the Key Players In The Application Specific Integrated Circuit Market?
Major companies operating 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.
• Texas Instruments Incorporated
• STMicroelectronics N.V.
• Qualcomm
• Onsemi
• Maxim Integrated
• Broadcom Inc.
• Comport Data Inc.
• Fujitsu Limited
• NXP Semiconductors N.V
• Faraday Technology Corporation
• Micron Technology
• Intel Corporation
• ASIX Electronics
• Renesas Electronics Corporation
• IC’Alps
• Marvell Technology Group Ltd.
• Samsung Electronics
• LG Electronics
• Honeywell International Inc.
• eSilicon
• Cypress Semiconductor Corporation
What Are The Regional Insights Into The Application Specific Integrated Circuit Market?
North America was the largest region in the application specific integrated circuit market in 2024. Asia-Pacific is expected to be the fastest-growing region in the application specific integrated circuit market report during the forecast period. The regions covered in the application specific integrated circuit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
