ID: MRFR/SEM/2958-CR | February 2020 | Region: Global | 111 pages
The Digital IC Market is projected to grow at a CAGR of 7.64%. According to MRFR analysis, the Digital IC Market value will expand up to USD 387 Billion during the forecast period 2018-2023. The measuring of voltages is one of the main Digital IC characteristics.
The circuits use the NOR, OR, and AND functions for improving the efficiency of digital systems. They are comprised of various multiplexers, electronic components, logic gates, etc. The miniaturization of digital circuits enhances speed and consumes low power. It also lessens the manufacturing costs.
There are several drivers such as the growing demand for various types of digital IC for various purposes are boosting the Digital IC Market growth. Also, the use of the Internet of Things (IoT) has a huge role in enhancing digital circuits. Simultaneously, the growing use of smartphones and tablets is also fuelling the market of Integrated Circuits.
However, some factors such as the complex integration process for digital circuits will slow down the growth to some extent. Also, the emergence of COVID-19 hindered market growth in 2021. Despite such hindrances, the Digital IC Market will regain its growth because of its various positive factors. Hence, the investors and market players will be largely benefitted from the increasing growth.
The spread of COVID-19 diseases led to a severe financial crisis among several industries across the world. It caused the shutdown of several businesses, and also affected the supply chain extensively. Due to this reason the shortage of several components for the production of Digital Integrated Circuits. Major countries announced lockdowns and social distancing as a safety measure to prevent the spread. However, with the innovation of vaccines and other healthcare facilities, the economies will restore their growth.
The increasing automation in cars has caused a huge demand for Digital ICs. Also, its uses in the healthcare industry several supportive equipments will further boost the Digital IC Market growth. The use of the Internet of Things (IoT) to integrate various systems and sensors will further enhance market growth.
The major restraint that will affect the Digital IC Market growth is the complexities of combining the digital ICs into a single IC. This will create huge complications for the vendors to solve any technical issue.
The growing demand for the solution of low-power for the IoTs will open new opportunities for the Digital IC Market. Also, the growing rate of the use of electronic gadgets such as smartphones, tablets, etc. will increase the demand for Loic ICs, NAND, Flash Memory IC, etc. Along with that, the rising trend of BYOD will further enhance the market.
The low- availability of skilled professionals can be challenging for the manufacturers to enhance the ICs. The designing of various functions into a single IC is a complicated task. Thus, with the lack of such skilled professionals, the market growth can slow down.
The projected Compound Annual Growth Rate (CAGR) of the Global Digital Integrated Circuit (IC) Market is 7.64%. According to MRFR analysis, the market value will reach USD 387 Billion during the forecast period 2018-2023. The rising market demand due to its several positive aspects will experience huge growth.
Value Chain Analysis
The growing use of smartphones and tablets will further enhance the Digital IC Market value in the forthcoming years. Also, the integration of 5G technology is one of the main factors that will lead to immense growth. Growing demand for the consumption of low-power equipment in healthcare, medical, electronics, etc., will simultaneously increase the value chain.
The market segment of the Digital Integrated Circuit is divided into raw material, end-user, and components. On the basis of raw material, the market of Digital Integrated Circuit is divided into Arsenide, Gallium, Silicon, others.
On the basis of components, the Digital IC Market is segmented into Microcontroller, Memory (Flash, EPROM, DRAM, and others), Digital Signal Processing, others
On the basis of end-users, the Digital IC Market is further bifurcated into Communication, Industrial, Automotive, Consumer Electronics, and others.
Geographically, the Digital IC Market is divided into North America, Asia-Pacific, Europe, South America, and the Middle East and Africa. Previously, in 2017, the Asia-Pacific region held the largest market share. As per reports, Asia-Pacific will further dominate the market in the future years. Countries like China, India, and Japan are providing the best opportunities for development and innovation. Also, the strict rules for driver's safety and the presence of key players are driving the market exponentially.
After that, North America will hold the second-largest share in the Digital IC Market. The rising demand for digital integrated circuits mainly in the automotive and consumer electronics industry is the major reason for growth.
There are several companies that are focusing to develop and enhance the Digital Integrated Circuit Market. They do collaborations, mergers, product launches, and upgrades to increase their market value. In this way, they enhance their products or services and expand their business foothold. Here are the important key players in the Digital Integrated Circuit Market-
The overview of the Digital Integrated Circuit Market Report is as follows-
Report Score and Segmentation
The report score is to give insight into the Global Digital Integrated Circuit (IC) Market. It covers important information that affects the market growth such as opportunities, drivers, restraints, challenges, etc. The information in this report is collected from various secondary and primary sources.
Frequently Asked Questions (FAQ) :
The surge in demand for customizable digital ICs is expected to cause the global market of digital IC to expand at 7.64% CAGR between 2017 and 2023. The hike in sale of digital ICs is likely to cause hike in the market valuation from USD 249.37 billion in 2017 to USD 387.82 billion by 2023.
The advent of IoT and rise in smartphone ownerships are observed as key drivers for the worldwide digital ICs market.
Innovators making constant effort to miniaturize electronic devices, which are likely to considerable traction, can hinder the digital IC market expansion.
Smart city initiatives hold numerous growth opportunities for the digital IC market.
Samsung Corporation (South Korea), Qualcomm Incorporated (US), Intel Corporation (US), Toshiba Corporation (Japan), Texas Instruments Inc. (US), Taiwan Semiconductor Manufacturing Co. Ltd (Taiwan), and Integrated Device Technology, Inc. (the US) are some reputed contenders of the digital IC market.
Silicon and gallium arsenide are commonly used raw materials for the fabrication of digital ICs. The easy available and highly stable silicon is likely to be used extensively in the production of digital ICs.
The consumer electronics sector is identified as a high end-user of digital ICs. Automotive and communication sectors are other consumers.