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Digital IC Market: Growth, Forecast Outlook 2027
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Market Analysis
The global digital IC market size will touch USD 387.82 billion at a 7.64% CAGR in the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. The integrated circuit, simply put, is an electronic circuit array which is formed by fabrication of various electronic and electrical components such as transistors, capacitors, resistors, and others on a semiconductor wafer which performs operations that are equivalent to a large discrete electronic circuit. The integrate circuit that operates only at a few defined levels of signal amplitude are the digital ICs. They have been designed by using multiple numbers of digital logic gates, flip flops, multiplexers, and other electronic components of circuits. There are various forms of digital ICs like memory ICs, logic ICs, interface ICs, power ICs, among others. Its different components include digital signal processing system, microcontroller, microprocessor, memory (EPROM, SRAM, Flash, DRAM, and others), and others. Digital ICs are made of different raw materials such as gallium arsenide, silicon, and others. Owing to its alluring features and plentiful benefits, it has wide applications in different end use industries such as communication, consumer electronics, industrial, automotive, and others.
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https://www.marketresearchfuture.com/sample_request/4344Various factors are fuelling the global digital IC market growth. As per the recent MRFR market estimates, such factors include the growing need for customizable ICs for various applications, increasing automation in cars, increasing use of digital ICs in the healthcare sector in various equipment like digital X-rays and electrocardiography machines, improvements in smartphones are rising, and ongoing technological advances. The additional factors adding to the digital IC market share include rise in the trend of bring your device (BYOD), increased adoption of tablets and smartphones, growing adoption of consumer electronics, rising investments in autonomous cars, high development in the field of technology, heavy investments in the development of new products by key players, global digitization, and increasing adoption of the internet of things (IoT).
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On the contrary, increased complexity, growing trend of miniaturization of electronic devices, increased engineering and R&D costs, impact of the COVID-19 pandemic, and limitations of digital ICs like complicated process and power dissipation may limit the global digital IC market growth over the forecast period.
COVID-19 Analysis
Unfortunately, the global digital IC market has faced the brunt of the COVID-19 outbreak. This is owing to several factors such as supply chain disruptions, demand share fluctuations, the economic outcomes of the pandemic, and the instant as well as future impact of the global crisis due to physical distancing trends and lockdowns imposed by the government all across the world have all affected the market growth negatively. However following relaxation of the lockdown in some parts the market is likely to return to normalcy soon.
Market Segmentation
The MRFR report highlights an inclusive analysis of the global digital IC industry based on end user, raw material, and component.
By component, the global digital IC market is segmented into digital signal processing system, microcontroller, microprocessor, memory (EPROM, SRAM, Flash, DRAM, and others), and others. Of these, the microcontroller segment will lead the market over the forecast period.
By raw material, the global digital IC market is segmented into gallium arsenide, silicon, and others.
By end user, the global digital IC market is segmented into communication, consumer electronics, industrial, automotive, and others. Of these, consumer electronics will dominate the market over the forecast period.
Regional Analysis
Geographically, the global digital IC market is bifurcated into Europe, North America, the Asia Pacific, and Rest of the World (RoW). Of these, the APAC region will command the market over the forecast period. Increasing technological adoption coupled with huge opportunities across industry verticals in China, Japan, India, and South Korea are adding to the global digital IC market growth in the region. Besides, increasing adoption in the automotive and consumer electronics sector, strict government regulations regarding driver’s safety and security, and the presence of giant players are also adding market growth.
Key Players
The key players profiled in the global digital IC market report include Nvidia Corporation (US), MediaTek Inc. (Taiwan), Micron Technology Inc. (US), SK Hynix, Inc. (South Korea), Broadcom Ltd (Singapore), STMicroelectronics NV (Switzerland), Analog Devices Inc. (US), NXP Semiconductor NV (Netherlands), Lattice Semiconductor Corporation (US), Skyworks Solutions Inc. (US), Infineon Technologies AG (Germany), Maxim Integrated Products Inc. (US), Integrated Device Technology, Inc. (the US), Texas Instruments Inc. (US), Taiwan Semiconductor Manufacturing Co. Ltd (Taiwan), Toshiba Corporation (Japan), Qualcomm Incorporated (US), Intel Corporation (US), and Samsung Corporation (South Korea), among others.
Market Research Future Analysis
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