Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Integrated Circuits Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Global Growth in Integrated Circuits - A comprehensive market research report has been published, detailing the present and future landscape of the Integrated Circuits (IC) industry. The report reveals a robust increase from a market size of $439.68 billion in 2023 to an anticipated $675.85 billion by 2028. This surge corresponds to a Compound Annual Growth Rate (CAGR) of 8.9% over the forecasted period.
Key Growth Drivers
- Technological Innovations: The industry's significant expansion is boosted by technological advancements, including Artificial Intelligence (AI), machine learning applications, and burgeoning 5G networks.
- Healthcare Sector Advancements: The growing healthcare and medical devices sector, leaning heavily on advanced ICs, is another critical factor propelling market development.
- Automotive and Telecommunications: The advancing demands in the automotive electronics sphere, alongside the expansion of telecommunications, provide a considerable market for ICs.
- Consumer Electronics: With the pervasive adoption of smartphones and consumer electronics, ICs are finding an extensive range of applications.
Market Trends and Opportunities
The market report points toward trends such as the miniaturization of integrated circuits, the advent of heterogeneous integration, energy efficiency, and custom IC designs, which are expected to drive industry innovation. The forecast period is likely to witness major developments in the security and encryption arenas, further influencing market dynamics.
Regional Market Analysis
The Asia-Pacific region claimed the crown for the largest market share in 2023, followed by North America. The comprehensive report analyzes regional strengths, with detailed assessments of market activities in countries such as Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA.
Challenges and Impediments
Despite the promising growth, the report identifies challenges, notably the complexities in automotive IC design, demanding reliability in vehicular applications, and stringent safety standards, which present intricate obstacles for market expansion.
Market Landscape and Competitive Analysis
Major industry players are outlined in the report, demonstrating an array of strategies such as product innovation and strategic acquisitions to solidify their market positions. For instance, the recent integration of Xilinx Inc. into Advanced Micro Devices Inc. exemplifies strategic mergers designed to enhance product portfolios.
The detailed analysis presented in the report offers invaluable insights for stakeholders, investors, and participants in the integrated circuits industry. This in-depth research encompasses vital data necessary for understanding the market's current status and forecasting its trajectory.
A selection of companies mentioned in this report includes
- Intel Corporation
- Texas Instruments
- Analog Devices
- STMicroelectronics
- NXP semiconductors
- ON Semiconductor
- Micron
- Toshiba
- Broadcom
- Qualcomm
- Maxim Integrated
- Intersil Corporation
- Cypress
- Microchip
- Integrated Device Technology
- Omron
- Advanced Electronic Components & Solution
- Epson
- Diodes
- Infineon
- New Japan Radio Co. Ltd.
- Boeing
- Atmel Corporation
- Nippon Electric Company
- Samsung
- Taiwan Semiconductor
- SK Hynix
- Nvidia
- Renesas Electronics Corporation
- MediaTek Inc.
- Xilinx Inc.
- Cypress Semiconductor Corporation
- Advanced Micro Devices Inc.
- Marvell Technology Group Ltd.
- Silicon Laboratories Inc.
- Microchip Technology Inc.
- Cirrus Logic Inc.
- Dialog Semiconductor PLC
- Semtech Corporation
- Lattice Semiconductor Corporation
- Monolithic Power Systems Inc.
- Power Integrations Inc.
For more information about this report visit https://www.researchandmarkets.com/r/scqx84
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