Published Date : May 02, 2018
Albany, New York, May 2, 2018: A recent report, titled, ‘Application Specific Integrated Circuit - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2024’, added by MarketResearchReports.biz to their vast repository, thoroughly explains this market with the help of broad descriptions of all its associated factors. Competitive landscape, regional outlook, drivers and restraints, prominent segments, and latest trends and opportunities are some of the factors explained in the report.
The global application specific integrated circuit market is mainly driven by widespread advancements occurring in technologies used in electronics and semiconductor industry. In this domain, such growth is mainly being brought about as a result of a rise in the use of the circuits in relevant electronic and semiconductor devices. Moreover, development in the process of miniaturization of various electronic components has also opened up new gates for the global application specific integrated circuit market. This is mainly due to the high energy and working efficiency delivered by miniature components coupled with reliability, which makes the components highly preferred for use in the market.
Industrial electronics medical electronics, space applications, military and defense, telecommunication… the list is endless when it comes to various sectors where application specific integrated circuits are used. Compared to earlier versions of circuits, the application specific circuit devices certainly provide voluminous efficiency, thus boosting the market’s growth.
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However, presence of a highly intense rivalry between individual players in the application specific integrated circuit market has been notably restraining its growth. This factor works in the form of both as a boon and a bane. In context of the latter scenario, any technology introduced by a business is quickly picked up by its competitors, thus making new products lose its value in just a few months, thus ushering in fluctuation in its sales. This ultimately reduces profitability of the products, consequently posing as a prime restraint. High cost of manufacturing the circuits, especially in remote and underdeveloped regions is also hindering the market up to a certain extent.
Nevertheless, several players are keen to introduce cost effective circuit-based solutions, along with producing devices that cannot be immediately copied by competitors. In this way, the factors hindering growth of the application specific integrated circuit market can be diluted in the next few years.
The global application specific integrated circuit market is characterized by an extremely competitive scenario, mainly due to the presence of several small and local market players. Regularly introducing new products in the market, carrying out extensive research and development, and participating in crucial mergers and acquisitions are key strategies implemented by most companies operating in this market.
Linear Technology Corporation, Renesas Electronics, Texas Instruments Inc., Qualcomm Inc., Infineon Technologies AG, Analog Devices, STMicroelectronics N.V., NXP Semiconductors N.V., ON semiconductor, Maxim Integrated Products Inc., and Intel Corporation, are major companies present in the global application specific integrated circuit market.
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