Overview and Scope
An integrated circuit is a small chip that acts as an amplifier, an oscillator, a timer, and a memory computer. An integrated circuit is a small wafer that can accommodate hundreds to millions of transistors, resistors, and capacitors. Integrated circuits are used in various applications such as automobiles, telecommunication, aerospace and defense, and consumer electronics.
Sizing and Forecast
The integrated circuits market size has grown strongly in recent years. It will grow from <b>$439.68 billion in 2023 to $480.97 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. </b> The growth in the historic period can be attributed to digital revolution, consumer electronics, telecommunications growth, automotive electronics, industrial automation.
The integrated circuits market size is expected to see strong growth in the next few years. It will grow to <b>$675.85 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. </b> The growth in the forecast period can be attributed to artificial intelligence (ai) and machine learning, 5g and iot expansion, autonomous vehicles, quantum computing, healthcare and medical devices. Major trends in the forecast period include miniaturization and advanced packaging, heterogeneous integration, energy-efficient ics, security and encryption, custom ic design.
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Segmentation & Regional Insights
The integrated circuits market covered in this report is segmented –
1) By Type: General-purpose IC, Application-specific IC
2) By Application: Automotive, Industrial, Consumer Electronics, IT & Telecommunication, Health Care, Aerospace & Defense, Other Applications
<b>Asia-Pacific</b> was the largest region in the integrated circuits market in 2023. <b>North America</b> was the second-largest region in the integrated circuits market. The regions covered in the integrated circuits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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 are 25 billion internet-connected devices in 2021. Each of these devices required 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 growth of the integrated circuits market.
Key Industry Players
Major companies operating in the integrated circuits market include <b>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.</b>
The integrated circuits market report table of contents includes:
1. Executive Summary
2. Integrated Circuits Market Characteristics
3. Integrated Circuits Market Trends And Strategies
4. Integrated Circuits Market – Macro Economic Scenario
5. Global Integrated Circuits Market Size and Growth
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26. South America Integrated Circuits Market
27. Brazil Integrated Circuits Market
28. Middle East Integrated Circuits Market
29. Africa Integrated Circuits Market
30. Integrated Circuits Market Competitive Landscape And Company Profiles
Top Major Players:
- Intel Corporation
- Texas Instruments
- Analog Devices
- STMicroelectronics
- NXP semiconductors
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