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Application Specific Integrated Circuits (ASICs) Market to Reach USD 30.99 Billion by 2032, Growing at a CAGR of 6.43% | Credence Research Inc.

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PUNE, India, Jan. 21, 2025 /PRNewswire/ — Market Size Overview of Application Specific Integrated Circuits (ASICs)

The market for Application Specific Integrated Circuits (ASICs) is experiencing significant growth. Valued at USD 17,581.25 million in 2023, it is anticipated to reach USD 30,988.25 million by 2032. This growth reflects a compound annual growth rate (CAGR) of 6.43% from 2024 to 2032. ASICs continue to gain traction across diverse applications due to their efficiency, customization, and performance benefits, positioning the market for sustained expansion over the forecast period.

Market Drivers of Application Specific Integrated Circuits (ASICs)

The market for Application Specific Integrated Circuits (ASICs) is propelled by several influential drivers, primarily rooted in technological evolution and growing industry-specific demand. The customization and optimization capabilities of ASICs allow for high performance and efficiency, making them essential in applications requiring precision and speed.

Technological Advancements

Breakthroughs in semiconductor technology have significantly enhanced ASIC design and functionality. These developments enable reduced power consumption, higher processing speeds, and miniaturization, making ASICs ideal for compact electronic devices and advanced industrial equipment. For example, emerging nodes like 5 nm and 3 nm facilitate greater density and performance, supporting demanding applications like artificial intelligence (AI) and 5G networks. The transition to these advanced nodes has been driven by the need for improved power efficiency and performance, with 5 nm nodes offering up to 15% speed improvement and 30% power reduction compared to their predecessors.

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Growing Demand in Industry Applications

ASICs are pivotal in the rapid evolution of AI and machine learning. Their ability to perform specific tasks with high efficiency makes them indispensable in training AI models and real-time data processing. The global AI market, which heavily relies on ASICs, is projected to grow from $189.72 billion in 2023 to $1689.3 billion by 2032, reflecting a CAGR of 27.5%. Similarly, the automotive sector relies on ASICs for advanced driver-assistance systems (ADAS), autonomous driving, and electronic control units. The global adoption of electric vehicles (EVs) further underscores this trend, as ASICs play a crucial role in battery management and powertrain control systems. 

IoT and 5G Expansion

With the Internet of Things (IoT) growing at an unprecedented speed, ASICs ensure seamless connectivity and device functionality. The number of IoT devices worldwide is forecast to almost double from 15.9 billion in 2023 to more than 32.1 billion by 2030. Combined with the rollout of 5G, ASICs support ultra-reliable and low-latency communications, strengthening their market presence across telecommunications and consumer electronics. The 5G chipset market, which includes ASICs, is projected to grow from $39.03 billion in 2023 to $457.5 billion by 2032, exhibiting a CAGR of 35.9%.

Growth Opportunities in the Application Specific Integrated Circuits (ASICs) Market

The ASICs market presents substantial growth opportunities, particularly through innovations in AI, IoT, and 5G technologies. These technologies demand ASICs for their high efficiency and specialization. Businesses can leverage these opportunities by focusing on creating chips tailored for AI applications, such as neural network acceleration or real-time data analysis. The expansion of IoT devices requires low-power, high-performance ASICs for seamless connectivity across smart homes, industries, and wearables. Additionally, the global adoption of 5G networks invites investments in ASICs that optimize network infrastructure and mobile devices. Companies positioned to align their products with these trends will gain a competitive edge.

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Application Specific Integrated Circuits (ASICs) Market Segmentation 

Type of ASIC:Full Custom ASICsSemi-Custom ASICs (Standard Cell ASICs)Programmable ASICs (FPGA-based ASICs)Application:TelecommunicationsConsumer ElectronicsAutomotiveIndustrial AutomationMedical ElectronicsAerospace and DefenseData Centers and Cloud ComputingIoT (Internet of Things)Blockchain and CryptocurrencyAI (Artificial Intelligence) and Machine LearningBy RegionNorth AmericaUSCanadaMexicoEuropeGermanyFranceUK.ItalySpainRest of EuropeAsia PacificChinaJapanIndiaSouth KoreaSouth-east AsiaRest of Asia PacificLatin AmericaBrazilArgentinaRest of Latin AmericaMiddle East & AfricaGCC CountriesSouth AfricaRest of Middle East and Africa

Regional Analysis of the Application Specific Integrated Circuits (ASICs) Market

North America

North America holds a significant share of the ASICs market, driven by the robust presence of key semiconductor manufacturers and tech giants. High investments in R&D for AI, machine learning, and autonomous driving technologies propel demand. For instance, the U.S. government has implemented various initiatives to support AI and autonomous driving research. Additionally, the growing adoption of electric vehicles (EVs) and advancements in 5G infrastructure amplify the need for customized ASIC solutions in this region. The U.S. has nearly 50,000 EV charging stations, and significant investments are being made in 5G infrastructure.

Europe

Europe’s ASICs market growth is fueled by innovations in the automotive and industrial sectors. The strong focus on electric and autonomous vehicles drives ASIC deployment in ADAS and battery management systems. The European automotive industry, which employs over 14 million people and contributes about 7% to the region’s GDP, is a major driver of this demand. Industries aiming to modernize production processes with industrial automation also leverage ASICs for high precision and optimized performance. Europe is home to leading companies in analog, mixed-signal, and high-voltage ASIC design.

Asia-Pacific

Asia-Pacific dominates the ASICs market, attributable to its massive consumer electronics and semiconductor manufacturing hubs, particularly in China, South Korea, and Taiwan. China alone produces over 70% of the world’s smartphones. The region’s leadership in 5G deployment and the rapid expansion of IoT devices create substantial opportunities. Asia-Pacific countries are expected to add almost $130 billion to their economies through 5G by 2030. Growing EV adoption in countries like China and India further accelerates ASIC demand, particularly for energy-efficient designs. China is a global leader in EV production and adoption.

Other Regions

Regions such as Latin America, the Middle East, and Africa exhibit steady growth potential, driven by increasing telecommunications infrastructure and IoT adoption. The development of smart cities and digitization initiatives also open doors for ASIC manufacturers to tap into emerging markets.

Each region’s unique focus areas and demand drivers collectively shape the global ASICs market, fostering growth and innovation.

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Top Companies –

Broadcom Inc.STMicroelectronicsFaraday Technology CorporationComport DataFUJITSUInfineon Technologies AGIntel CorporationASIX ElectronicsOmniVision Technologies, Inc.Semiconductor Components Industries, LLCSeiko Epson CorporationDWIN TechnologySocionext America Inc.Tekmos Inc.Others

Latest Developments:

October 2024: OpenAI, an artificial intelligence company, partnered with Broadcom Inc., a provider of application-specific integrated circuits (ASICs), to develop an AI chip aimed at improving the efficiency of AI model inference.July 2024: STMicroelectronics launched the world’s largest cinema image sensor, specifically designed for large-scale cinema applications, underscoring its advancements in sensor technology and innovation in the imaging market.February 2024: Broadcom Inc. reported record revenue of USD 13,072 million for Q3 2024, a 47% year-over-year increase, driven by robust demand for AI-related products and innovations in 5G and networking.July 2023: Faraday Technology Corporation launched its SerDes total solution, featuring SerDes IP design on UMC 28nm and the corresponding IP Advanced (IPA) service. This solution is designed to accelerate customer integration.September 2023: Intel announced plans to create an ASIC accelerator to minimize performance overhead in Fully Homomorphic Encryption (FHE). The company also revealed its intention to release a beta version of an encrypted computing software toolkit for developers.September 2023: Infineon Technologies AG launched a new line of OptiMOS power MOSFETs to enhance efficiency and performance in power management applications.August 2022: Broadcom Inc. introduced the StrataXGS Tomahawk 5 switch series, offering 51.2 terabits per second of Ethernet ASIC switching capacity in a single, monolithic device.April 2022: Intel unveiled the Intel Blockscale ASIC, a result of extensive R&D. This ASIC provides efficient hashing for proof-of-work consensus networks.July 2022: Faraday Technology Corporation introduced its FPGA-Go-ASIC prototyping platform, enabling customers to accelerate circuit creation and verification processes, enhancing its ASIC design services.February 2022: MIT researchers developed an ASIC chip designed to defend IoT devices against power-based side-channel attacks. The chip employs threshold computing, splitting data into random components for secure processing.March 2021: Intel and the U.S. Defense Advanced Research Projects Agency (DARPA) initiated a three-year collaboration under the SAHARA project (Structured Array Hardware for Automatically Realized Applications) to advance domestically produced structured ASIC platforms with cutting-edge security countermeasures.February 2021: Renesas Electronics Corporation acquired Dialog Semiconductor Plc, a provider of power management, charging, AC/DC power conversion, and ASICs, in a deal valued at approximately USD 5 billion.June 2021: Taiwan-based IC design houses expressed optimism for increased shipments in Q3 2021 due to the rollout of 5G-enabled smartphones by Chinese brands. They anticipated over 10% sequential growth in order volumes, driven by higher quotes for 5G chips compared to 4G applications.

Reasons to Purchase this Report:

Gain a comprehensive understanding of the market through qualitative and quantitative analyses, considering both economic and non-economic factors, with segmentation and sub-segmentation details provided in terms of market value (USD Billion).Identify regions and segments expected to experience the fastest growth or dominate the market, with a detailed analysis of geographic consumption patterns and the factors driving or hindering market performance in each region.Stay informed about the competitive environment, with rankings of major players, recent product and service launches, partnerships, business expansions, and acquisitions from the past five years.Access detailed profiles of major market players, including company overviews, insights, product benchmarking, and SWOT analysis, to understand competitive advantages and market positioning.Explore the present and forecasted market landscape, with insights into growth opportunities, market drivers, challenges, and constraints for both developed and emerging regions.Benefit from Porter’s Five Forces analysis and Value Chain insights to evaluate various market perspectives and competitive dynamics.Understand the evolving market scenario, including potential growth opportunities and trends expected in the coming years.

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Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

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RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

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Axon Announces Body 5: Next-Generation Camera Built for the AI Era

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Axon Body 5 delivers 25x the AI processing power of earlier-generation cameras, with upgraded connectivity, audio and battery life to support real-time situational awareness in the field

SCOTTSDALE, Ariz., Oct. 24, 2026 /PRNewswire/ — Axon (Nasdaq: AXON), the global leader in public safety technology, today announced Axon Body 5, its newest body-worn camera designed to bring more powerful intelligence, connectivity and real-time support directly to officers in the field.

For years, Axon body cameras have helped agencies capture critical evidence and create greater transparency. Body 5 is built to help officers during the call, with information, assistance and backup on the spot.

“Officers shouldn’t have to choose between getting information and watching the scene. With Axon Body 5, they don’t,” said Rick Smith, Axon Founder and CEO. “They capture a license or document with the camera, keep their hands free and eyes up, and get information faster than writing it down and calling it in by radio. An officer fully engaged with the person in front of them, not down at a notepad, is a safer officer and a better-served community.”

Axon Body 5: Built for the AI Era

Built from the ground up for the AI era, Axon Body 5 delivers 25x the AI processing power than earlier generation Axon body cameras, alongside advancements in connectivity, audio, video and battery life. Together, these upgrades give the camera the physical power to run smarter AI features — both today and as new AI tools are developed in the future — while also making it more dependable for officers to use every day. 

For the first time, Axon is also introducing two versions of its latest flagship camera: Axon Body 5 and Axon Body 5 Pro.

Both models feature several key advancements, including:

25x more processing power for AI: A powerful new computing architecture creates the capacity to support current and future AI features directly on the body camera.Enhanced video: Improved video captures clearer evidence across challenging environments, including better low-light performance.Improved connectivity: Seamless connectivity in urban and remote environments – and more precise location capability – helps officers, cameras and remote support teams stay connected when timely information matters most.Longer battery life: 20% more battery life than the previous generation helps keep the camera ready and connected throughout an officer’s shift.

The Axon Body 5 Pro will continue to gain new AI capabilities as they become available, growing along with the AI Era Plan. Additionally, new hardware features include:

A near-focus camera: An additional dedicated camera lens lets officers scan driver’s licenses to check status and search for wants or warrants in seconds, without returning to the patrol vehicle, with relevant information sent to Axon Fusus to support real-time operations.Front-facing speakers: Four additional speakers project even more powerful audio toward the person an officer is speaking with, helping real-time translations from Axon Assistant carry more clearly over heavy traffic or crowd noise. Additional memory: Extra space lets the camera run several AI tools at once, helping officers stay better informed and work faster.

Bringing More of Axon’s AI Era Into the Field

Axon Body 5 helps officers get more out of the Axon AI Era Plan by bringing smart tools right to the scene. Axon’s portfolio already supports public safety professionals across a growing range of tasks. For example, Draft One helps officers turn body-camera audio into high-quality report drafts and Axon Assistant provides voice-based information access and real-time translation.

Increasingly, Axon is also bringing AI into real-time operations.

Axon Guardian is a new category of AI features within the AI Era Plan that was specifically created to work with an officer’s field-based devices – starting with body cameras and in-car cameras – to improve safety. Guardian is designed to flag potential risks as situations unfold and create alerts when additional attention may be needed. Two of the first features include:

Escalation Detection: When an Axon Body 4 or Axon Body 5 camera is activated and recording, Guardian has the ability to detect potential conflicts in real time and create an alert in Axon Fusus. A human reviews the livestream and decides if additional support or action is needed.Approach Alert: When active on Axon Fleet 3, Guardian can detect if the door of a stopped vehicle opens and alert the officer through the in-car display and their body-worn camera.

Combined, Axon Body 5 and the expanding AI Era portfolio demonstrate the importance of AI as a critical resource to assist public safety professionals before, during and after an incident — reducing administrative burden, improving situational awareness and helping protect more lives.

Innovating Responsibly

Axon’s Responsible Innovation framework guides the development of all of its products. Designed with this in mind, Axon Body 5 and Guardian prioritize human oversight and maintain agency control over data. As a key part of the responsible innovation process, Axon’s independent Ethics and Equity Advisory Council was created to help responsibly develop and deploy new technologies with transparency, while aligning with community expectations.

General availability dates for Axon Body 5 and Axon Guardian will be announced soon. Product features and capabilities vary by configuration. For more information on Axon’s current products and services: Axon Product Catalog – Axon.com.

About Axon
Axon (Nasdaq: AXON) is the global leader in public safety technology supporting state, local, federal and international public safety agencies with technology designed to Protect Life. Complementing its mission, Axon’s growing Enterprise market focuses on protecting critical infrastructure and frontline workers across multiple industries including corporate security, hospitality, retail and healthcare. Founder-led since 1993, Axon builds products with transparency and responsibility. From TASER energy devices to today’s connected network of hardware – including cameras, drones, and robotics – cloud software, sensors, and AI-tools, the Axon ecosystem helps seamlessly protect people and places when it matters most. To ensure these technologies align with community expectations, Axon’s independent Ethics & Equity Advisory Council guides the ethical, inclusive, and accountable design of its products and services. Learn more about the EEAC and Axon’s Responsible Innovation framework at Axon Responsibility. 

Non-Axon trademarks are the property of their respective owners. Axon, TASER and the Delta Logo are trademarks of Axon Enterprise, Inc., some of which are registered in the US and other countries. For more information, visit www.axon.com/legal. All rights reserved.

Please visit https://investor.axon.com and https://www.axon.com/newsroom for more information.

Media Contact:
Kate MacKinnon
Vice President, Communications
press@axon.com

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In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design

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The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.

ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.

The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.

The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.

Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.

The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.

Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.

Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.

Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.

The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.

As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.

A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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