The global application specific IC market to grow at a CAGR of 17.01% during the period 2017-2021.
The report, Global Application Specific IC Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
One trend in market is growth prospects in IoT and big data. IoT has garnered the need for interoperability among IoT devices, which has led to the origin of connected devices. Different vendors across the market have to work collectively in an open-source platform to set standards for all the things, to determine the interoperability among IoT devices.
According to the report, one driver in market is declining ASPs of electronic devices. The portable electronic devices such as smartphones, wearable, tablets and laptops become obsolete after a short duration because of the introduction of new features and technologies. Due to this, the consumers are frequently upgrading their electronic devices, resulting in higher demand for these devices. This is driving the demand for ASICs supporting new features and technologies. For instance, the smartphone prices were nearly halved during 2012-2016, further adding to the growth of the market.