DUBLIN, March 6, 2023 /PRNewswire/ — The “Global Application Specific Analog Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global application specific analog market is projected to grow at a CAGR of 8.56% during the forecast period to reach US$66.506 billion by 2027, from US$37.418 billion in 2020.
An analog is an electronic communication that is sent as signals of varying frequency. These are particularly used to convey information by storing it in a physical medium such as vinyl record players, televisions, smartphones, polaroids or film cameras, and others.
Moreover, application-specific chips are designed to perform a single function that cannot be used in others, for example, the use of application-specific analogs in consumer electronics such as smartphones. Furthermore, an application-specific chip such as an analog circuit improves the speed, is compact, and uses less electricity.
An increase in demand for consumer electronics is expected to boost the global application specific analog market.
Application-specific analog is essentially used in portable electronic devices as it is compact, requires less assembling cost, improves performance, consumes less power, and provides improved security and enhanced IP protection. In recent years, demand for application-specific analog is increasing due to the rise in demand for consumer electronics, particularly smartphones.
Furthermore, advanced technology, the introduction of high-end connectivity such as 5G technology, better smartphone cameras, slim design, and others are further increasing the demand for smartphones which is further boosting the market for application-specific analog.
Furthermore, new generation technologies such as 5G connectivity increased the demand for smartphones, especially for Chinese smartphone brands such as Xiaomi, Oppo, Vivo, and Realme. As per Xiaomi’s annual report, smartphone sales were US$208.9 billion in 2021 which represented an increase of 37.2% from the previous year. Furthermore, the increase in internet users has further increased the demand for smartphones. According to ITU (International Telecommunication Union), 5.3 billion people are using the internet in 2022.
Further, the demand for smartphones increased as people have begun using digital payments as a result of social distancing norms which further propelled the growth of application-specific analogs. As per Samsung Electronics Co. Ltd, mobile phone sales recorded US$960,217 million in 2020. Moreover, entertainment devices such as smart television sets witnessed an increase as people watched online shows and movies to pass time during the pandemic. Additionally, demand for laptops increased due to work from home, online education, and media consumption among the population.
- Analog Devices, Inc completed the acquisition of Maxim Integrated Products, Inc in August 2021. The acquisition strengthened Analog Devices Inc position in the analog semi-conductor segment and increased its revenue.
- In order to IoT devices from power-based side-channel assaults, MIT researchers created an application-specific integrated circuit (ASIC) chip. Threshold computing is a specific kind of computation that forms the foundation of the team’s microprocessor. Instead of using actual data to train a neural network, the data is first divided into distinct, random components. Before adding up the final result, the network performs operations on the random components individually and in random order.
During the forecast period, North America is expected to gain a significant share of the global application-specific analog market.
North America witnessed an increase in the demand for the global application specific analog market. The demand for application-specific analog increased due to rising demand for smartphones, tablets, laptops, and smart TVs as a result of emerging technologies such as 5G connectivity, AI, the Internet of things, smart cameras, sensors, and others. Furthermore, as per Apple’s annual report, iPhone sales increased to US$191,973 million in 2021. In addition to that, North American sales recorded a significant share of US$153,306 million in 2021. According to CSIS, Center for Strategic & International Studies, more than 270 million people in the USA have access to 5G services.
Further, the drivers of the Asia-Pacific industry are the rising adoption of smartphones and vehicle automation as a result of urbanization and the rising population. By 2025, smartphones will account for more than 4 out of 5 connections, predicts the GSM Association. The use of analog integrated circuits (Analog IC) in smartphones in this region is anticipated to rise as a result of this trend. Moreover, 5G connectivity and infrastructure are increasing in China owing to its benefits in the telecom and internet sector which is further increasing the demand for application-specific analog. Analog IC development prospects in this sector are being boosted by the growing emphasis on IoT platforms. Governments of these emerging nations are concentrating on accessing various public and commercial IoT platforms as a result of countries like China, India, and South Korea actively seeking to enhance them.
By Industry Vertical
- Consumer Electronics
- Communication and Technology
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL APPLICATION SPECIFIC ANALOG MARKET, BY INDUSTRY VERTICAL
6. GLOBAL APPLICATION SPECIFIC ANALOG MARKET, BY GEOGRAPHY
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
8. COMPANY PROFILES
- Texas Instruments Incorporated
- Qualcomm Technologies Inc.
- Skyworks Solutions
- Infineon Technologies AG
- NXP Semiconductors
- Semiconductor Components Industries, LLC
- Microchip Technology Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ejjofw
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Originally published at https://www.prnewswire.com/news-releases/global-application-specific-analog-market-report-2023-sector-to-reach-66-5-billion-by-2027-at-an-8-56-cagr-301763274.html