Integrated Circuit (IC) Market Research

The Integrate Circuit Market involves various components such as Memory (DRAM, Flash, SRAM, EPROM, and others), Microprocessor, Microcontroller, Digital Signal Processing System, and others), End User (Automotive, Industrial Consumer Electronics, Communication and others). The need for IC market research is very significant.

Growing automation in cars is also creating a huge demand for the customizable ICs and thus boosting the digital IC market. Apart from this, the healthcare sector also uses ICs in various equipment such as electrocardiography machines and digital X-rays.

The IC is a highly competitive market with numerous players providing the most advanced IC technology. The IC market has shown upwards trend from past couple of decades. But the past couple of years has been proved a bit downfall for IC market as demand fall in the late 2018, and in some quarters of 2019. IC market was hoping recovery in 2020 but covid-19 has made the situation worse. But according to experts this is a temporary downfall and the future for IC industry is bright.

Applications of Integrated Circuits (IC’s):

· Automation and transportation industry

· Defence

· Healthcare

· Telecommunication

· Electronic industry

· Energy and particle research

· Electronics industry, etc.

The need for IC Market Research:

The reason why there is a need to study the IC market is because there is a lot at stake. There are a number of factors which affects the IC market, and even the least important factors could make several impacts on the market dynamics. Hence, there is a need for continuous study. Following are some of the reasons because of which there is a need to research IC market.

· To study market segments and sub-segments.

· To anticipate demand and supply fluctuations.

· To forecast the demand.

· To know the Current trends/opportunities/challenges.

· To keep up with technological advancements.

· To project the market size and growth and to set objectives for your own company.

· To know the level of competition.

The Global Digital IC (integrated circuit) Market is expected to grow from USD 249.37 billion in 2017 to USD 387.82 billion by 2023, at a CAGR of 7.64% during the forecast period (2018 to 2023). There are a number of factors which are contributing behind this rally of growth.

Major Factors behind the Growth of IC Market:

· The development of smart cities is one of the major factors contributing to this significant growth of IC market. Dozens of smart cities are currently in development around the world. These smart cities are to be equipped with smart technology such as modern transportation, eco-friendly buildings, and infrastructure.

· The introduction of 5G technology.