Application Specific Integrated Circuit Industry - Regional Synopsis
APAC Market Statistics
Application specific integrated circuit market in the Asia Pacific region is attributed to holding the largest revenue share of about 30% by 2037. The tremendous development in demand for ASICs in the region can be ascribed to multiple critical aspects.
First, the region's fast economic expansion and growing industrialization are driving a surge in demand for energy-efficient gadgets. Furthermore, the Asia Pacific region's widespread use of smartphones has also aided in the market's growth. market expansion is encouraged by the increasing use of these devices, particularly in developing nations like China, Japan, and India. The Asia-Pacific region's smartphone adoption rate increased from 64 percent in 2019 to 76 percent in 2022. In APAC, smartphone use was predicted to surpass 90% by 2030.
North American Market Analysis
The application specific integrated circuit market in the North America region is expected to hold 27% of the revenue share in the upcoming years. One of the main reasons for the growth in the region is the substantial presence of well-known companies, such as Texas Instruments Inc., Qualcomm Inc., Intel Corporation, and Maxim Integrated Products Inc., North America is dominated by the United States in the current market environment.
The United States has experienced significant advancements in several areas, including healthcare monitoring systems, electric and hybrid automobiles, and consumer electronics. North America is home to a large number of ASIC manufacturers and solution providers due to its early adoption of the technology.
