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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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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

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3 hours ago

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October 25, 2026

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Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

3 hours ago

on

October 25, 2026

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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

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10 hours ago

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October 24, 2026

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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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