Market Research Future published a research report on “Next Generation Integrated Circuit Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Research Future (MRFR), in its report on the global next generation integrated circuit market 2020, reveals causes that can promote and threat its growth. As per MRFR evaluation, the next generation integrated circuit market can thrive at 27% CAGR across the analysis period 2017 to 2023. The next generation integrated circuit market valuation can exceed approx. USD 1,637 Mn by 2023.
With evolution of technology, the next generation integrated circuit market is likely to make a phenomenal impact. The expansion of the next generation integrated circuit market can be attributed to the large scale utility of ICs. Robust features of next gen ICs, such as compactness, reliability, and low power consumption can promote the expansion of the world-wide market of next generation ICs. The better discretion offered by these next generation ICs and their growing popularity across major industries can boost their market rise in the forecast period. They provide high operation speed and are suitable for small and single operations. This can also promote the expansion of the next generation ICs market in the near future. In addition, the high ingression rate of smartphones and smart communication gadgets in different industry verticals can impel the expansion of the market in the study period.
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The Next generation integrated circuit market segment study is based on vertical, technology, type of integration, and component. The Next generation integrated circuit market on the basis of type is segmented as hybrid, monolithic and module. The increase in the application of hybrid and module integration techniques can boost the expansion of the Next Generation Integrated Circuit Market. The rapid adoption of monolithic integration technique can support the expansion of the market. By technology, the Next generation integrated circuit market segments are digital and analog. The component based segments of the Next generation integrated circuit market are lasers, attenuators, optical amplifiers, modulators, and photo detectors. The vertical based market segments are Industrial, IT & Telecommunication, IT & Telecommunication, Aerospace & Defense, Consumer Electronics, and Healthcare among others.
Detailed Regional Analysis
The next generation integrated circuit market in the North America region is likely to experience a decent growth in the market. The next generation integrated circuit market in the region is likely to be led by the U.S and Canada due to the highest demand for next generation integrated circuit in the region. The existence of a high number of reputed key players, such as Analog Devices, Texas Instruments, and Intel Corporation in the region can promote the expansion of the regional market through the study period. The existence of well-established infrastructure and the penetration of smart devices, along with the provision of better connectivity can support the expansion of the next generation IC market in the region. In Europe, the high demand for vehicle automation can support the expansion of the integrated circuit market. The rise in the adoption of smartphones and related communication devices can boost the growth of EU next generation integrated circuit market in the years ahead. In Asia Pacific region, the high demand for wearables across the healthcare field is identified as the main cause for the rise of the next generation integrated circuit market in the region across the evaluation period.
NEC Corporation (Japan) Intel Corporation (U.S.), Analog Devices (U.S.), ON Semiconductors (U.S.), Texas Instruments (U.S.), Atmel Corporation (U.S.), NXP Semiconductor (U.S.), Boeing (U.S.), STMicroelectronics (U.S.) and Qualcomm (U.S.) among others are some reputed next generation integrated circuit dealers listed by MRFR.
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