Global Digital IC Market Emmanuel Ogbah Hat , Demand, Growth, Key Opportunities, Key Players and Industry Analysis By 2023
by International-Industry-News · February 18, 2020


Global Digital IC Market


The global digital integrated circuit (IC) market value in 2017 was USD 249.37 billion and can attain a valuation of USD 387.82 billion by 2023, states Market Research Future (MRFR). The growth rate of the market during the forecast period (2018 to 2023) is expected to be 7.64% Larry Ogunjobi Hat , adds MRFR.


Market Boosters and Key Barriers


Rising adoption of consumer electronics works in favor of the global digital IC market. Many of the consumer electronics make use of digital IC, on account of the growing focus on improving the digital experience for customers among system integrators. Therefore, rising adoption of consumer electronics also boosts demand for digital ICs, which in turn stimulates market growth.


Considerable investments in autonomous cars seems to boost market demand. Autonomous vehicles do not interact with humans and help bring down the workload, which elevates their demand among consumers. Such vehicles are highly dependent on actuators, powerful processors and sensors to execute the software which requires digital ICs for the conversion of analog signals to digital signals.


Soaring demand for smartphones helps accelerate demand for NAND Flash memory IC David Njoku Hat , DSP, logic ICs, and others. Besides, the rising trend of bring your device (BYOD), the adoption rate of tablets all over the world has boosted the demand for memory ICs. Therefore, high adoption of smartphones and tablets can leave a profound effect on the market in the coming years.


Market Segmentation


The primary segments of the worldwide digital IC market are component Jabrill Peppers Hat , raw material and end-user.


Considering the component, the market includes memory (DRAM, Flash, SRAM,聽EPROM, and others) Myles Garrett Hat , microcontroller, microprocessor, digital signal processing system, and others. The memory segment is leading the digital IC market.


Depending on the raw material, the market has been split into gallium arsenide, silicon Nick Chubb Hat , and others. The silicon sub segment controls the largest share in the worldwide market.


The end-users in the market are industrial, automotive, communication, consumer electronics, and others.


Regional Framework


North America, Asia Pacific (APAC) Denzel Ward Hat , the Middle East & Africa and Europe are the primary markets for digital IC.


High development of technology along with substantial investments in the development of latest products by renowned players drives the market growth in APAC. Surge in smart cities in the region also benefits the market, as smart cities require an IoT network that contains microcontroller units (MCUs), several ICs like power ICs and communication ICs along with various sensors and extensive software.


Booming automotive and healthcare industries in North America helps boost market demand to a great extent. The region notes the popular trend of BYOD and high popularity of smartphones, which can lead to market growth in the ensuing years. Apart from this, the presence of Silicon Valley coupled with high adoption of technological advancements within the medical industry boosts the growth of the digital IC market in the region.


Mounting demand for smartphones, speakers Baker Mayfield Hat , home entertainment, television, and other consumer electronics in Europe is expected to lead the digital IC market to greater heights in the years to come. Moreover, a number of manufacturers in the region are focusing on developing compact, cost-effective and energy-efficient devices for commercial and domestic usage, which is believed to accelerate the advancement of the digital audio IC market in the region.


More Information@


Digital IC Market by Share Austin Seibert Hat , Size, Growth and Forecast 鈥?2023 | MRFR

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