Digital IC Market Analysis, Trends, and Size will grow USD 387 Billion by 2027
Research Reports
Aug 18, 2023
Growing Demand for Advanced Semiconductor Solutions Drives the Digital IC Market
According to a comprehensive research report by Market Research Future (MRFR), “Digital IC Market Research Report: By Component, Raw Material, End User and Region – Forecast till 2027, the market is anticipated to acquire a valuation of approximately USD 387 Billion by the end of 2023. The reports further predict the market to flourish at a robust CAGR of over 7.64% during the assessment timeframe.
Today, most electronics and advanced sensors used in IoT applications have digital ICs. Rising sales of consumer electronic devices due to their increasing use are major driving forces behind the market growth. Digital ICs are also used in the manufacturing of nanomaterials and microscopic computer systems. The growing trend of miniaturized electronics and portable devices creates several opportunities for market players.
The rapidly growing smartphone industry and the proliferation of wireless communication devices push digital IC market revenues. Additionally, the rising use of various electronic devices like military weapons and other connected devices creates significant market opportunities. The growing adoption of semiconductor devices in automotive, healthcare, aerospace & defense, and consumer electronics boosts the market size.
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Increasing digital IC applications in voice identification, machine vision, and video monitoring systems influence market value. The burgeoning semiconductor and sensor markets foster market shares. Also, the rising use of ubiquitous technologies like AI and ML is predicted to bolster market growth in future years. Furthermore, the rising need for better-performing ICs and growing demand for quantum computers & chips are major trends defining the growing market landscape.
Key Players-
Players leading the digital IC market include-
- Broadcom Ltd. (Singapore)
- Lattice Semiconductor Corporation (US)
- Samsung Corporation (South Korea)
- Texas Instruments Inc. (US)
- Integrated Device Technology Inc. (US)
- Skyworks Solutions Inc. (US)
- Micron Technology Inc. (US)
- Semiconductor NV (Netherlands)
- Toshiba Corporation (Japan)
- MediaTek Inc. (Taiwan)
- Maxim Integrated Products Inc. (US)
- Qualcomm Incorporated (US)
- Report Scope:
|
Report Metric |
Details |
|
Digital IC Market Revenue forecast in 2027 |
USD 387 Billion |
|
Growth Rate |
CAGR of 7.64% from 2020 to 2027 |
|
Base Year |
2019 |
|
Study Period |
2020-2027 |
|
Key Market Opportunities |
The growing demand for the solution of low-power for the IoTs will open new opportunities for the Digital IC Market. |
|
Key Market Drivers |
The increasing automation in cars has caused a huge demand for Digital ICs. |
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Industry Trends
The proliferation of IoT will open new opportunities for the digital IC market. The advent of automated cars/driverless vehicles has created a huge demand for digital ICs. Also, it’s uses in several supportive equipment, crucial in the healthcare industry boost the digital IC market size. The growing integration of IoT into various systems and sensors fosters the digital IC market shares.
The growing demand for low-power consuming solutions and electronic gadgets such as smartphones, tablets, etc. boosts the use of Loic ICs, NAND, and Flash Memory IC, etc. the rising trend of BYOD will further escalate the digital IC market value. On the other hand, complexities in combining digital ICs in a single IC are a major factor likely to impede market growth.
The designing of various functions into a single IC is a complicated task. These issues create huge complications for developers to solve any technical issue. Also, the shortage of skilled professionals challenges manufacturers to scale digital ICs production. The increasing use of digital ICs in consumer electronics, smartphones, telecom & automotive systems creates vast market opportunities.
Besides, the growing demand for digital ICs from automotive, industrial, consumer electronics, and communication device manufacturers substantiates market revenues. Improvements in telecom networks and systems and growing economic conditions worldwide have influenced market value. Additional factors substantiating the market growth include vast advancements in electronics industries and digital IC technology worldwide.
Digital IC Market Segmentation
The digital IC market report is segmented into components, raw materials, end-users, and regions. The raw material segment is sub-segmented into arsenide, gallium, silicon, and others. The component segment is sub-segmented into microcontrollers, memory (Flash, EPROM, DRAM, others), digital signal processing, and others. The end-user segment is sub-segmented into communication, industrial, automotive, consumer electronics, and others. The region segment is sub-segmented into Asia-Pacific, Americas, Europe, and rest-of-the-world.
Digital IC Market Regional Analysis
The Asia Pacific region dominates the global digital IC market, with its largest semiconductor industry. The presence of many digital IC and semiconductor manufacturing companies in the region boosts the market size. Besides, the region has long been attracting foreign investors with its raw material advantage and the availability of cost-competitive workforces.
Also, significant investments made by industry players to foster production capacities and expand their footprints accelerate the region’s digital IC market shares. Digital IC manufacturers in Asia usually have lesser carbon footprints due to the ample availability of renewable energy sources for production and reduced logistics-related emissions.
Besides, the growing demand for technologically advanced gadgets such as computers, laptops & tablets and rising smartphone users influence the region’s market share. Countries like Japan, South Korea, China, and India account for the leading digital IC markets in the region.
Competitive Landscape
Highly competitive, the global digital IC market appears fragmented, with many well-established players. The rising demand for new products would help manufacturers accelerate digital IC production and increase chip performance & power efficiency.
Digital IC manufacturers strive to reduce their carbon footprint and build a procurement strategy of sourcing raw materials such as polysilicon from the US and Germany. They accelerate their production to bring more silicon products to the market to support the industry as it scales up and fulfill their rapid growth ambitions.
Industry players work on doubling the die output per wafer, meeting the growing global demand for premium electric vehicle powertrains. They incorporate strategic approaches, such as acquisition, partnership, collaboration, expansion, and product/technology launch, to gain a competitive advantage and stay at the market forefront.
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For instance, on Jan.13, 2023, Siemens Digital Industries Software launched a groundbreaking solution, Questa Verification IQ software, that can help logic verification teams overcome various challenges associated with the dramatic rise in the design complexity of sophisticated, next-generation ICs. Questa Verification is team-based, cloud-enabled, data-driven, and powered by AI technology.
It helps to accelerate verification closure, streamline traceability, optimize resources, and speed time-to-market. Siemens’ advanced integrated circuit verification software can also help global engineering teams collaborate in real-time to accelerate the verification management process and provide real-time project visibility. Questa Verification IQ seamlessly integrates with industry-leading Polarion requirements, delivering a platform that automatically captures all data from every engine run across the project lifecycle.
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