Next Generation Integrated Circuit Market Analysis
The global next generation integrated circuit market is predicted to touch USD 1,637 million at a whopping 27% CAGR between 2022- 2030, states the recent Market Research Future (MRFR) analysis. Next generation integrated circuit or next generation technology, simply put, is a set of electronic circuits on a single chip or flat piece of semiconductor material, which is basically silicon. Integrated circuit technology is of two types- digital and analog. It has various components such as optical amplifiers, attenuators, photo detectors, modulators, and lasers and is integrated into module, monolithic, and hybrid. Owing to its alluring features and plentiful benefits the next generation IC chip manufacturing technology has wide applications across different verticals, including aerospace and defense, healthcare, IT and telecommunication, consumer electronics, industrial, automotive, and others.
Various factors are propelling the global next generation integrated circuit market share. According to the recent MRRF report, such factors include the rising use of smartphones, the presence of leading network service and data center providers as well as cloud service providers, and burgeoning demand for next generation integrated circuit from different industry verticals. Besides, the rising adoption of smartphones, coupled with the surging need for vehicle automation is also adding market growth.
On the contrary, the impact of the COVID-19 outbreak may limit the global next generation integrated circuit market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global next generation IC market based on technology, component, integration, and vertical.
By technology, the global next generation integrated circuit market is segmented into digital and analog. Of these, the digital technology will lead the market over the forecast period.
By component, the global next generation integrated circuit market is segmented into optical amplifiers, attenuators, photo detectors, modulators, and lasers.
By integration, the global next generation integrated circuit market is segmented into module, monolithic, and hybrid. Of these, hybrid and module will dominate the market over the forecast period.
By vertical, the global next generation integrated circuit market is segmented into aerospace and defense, healthcare, IT and telecommunication, consumer electronics, industrial, automotive, and others.
Key Players
Eminent players profiled in the global next generation integrated circuit market report include NEC Corporation (Japan), STMicroelectronics (U.S.), Boeing (U.S.), Atmel Corporation (U.S.), NXP Semiconductor (U.S.), ON Semiconductors (U.S.), Texas Instruments (U.S.), Analog Devices (U.S.), Qualcomm (U.S.), and Intel Corporation (U.S.). Industry players have incorporated strategies such as partnerships, collaborations, mergers, and more to stay at the forefront.
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Regional Analysis
Based on the region, the global next generation integrated circuit market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, the Rest of the World (RoW). Of these, North America is predicted to spearhead the market over the forecast period. Burgeoning demand in Canada and the US, the presence of top industry players, well-established infrastructure, penetration of smart devices, and penetration of smart devices are adding to the global next generation circuit market growth in the region.
The global next generation integrated circuit market in Europe is predicted to hold the second-largest share over the forecast period. Growing demand for car automation, coupled with the rising adoption of smartphones associated communication devices are adding to the global next generation circuit market growth in the region.
The global next generation integrated circuit market in the APAC region is predicted to have favorable growth over the forecast period. Burgeoning demand for wearables in the healthcare sector is adding to the global next generation circuit market growth in the region.
The global next generation integrated circuit market in the RoW is predicted to have sound growth over the forecast period.
