Global Digital IC Market growing at a CAGR of 7.7% from 2023 to 2031
Category : Semiconductor And Electronics | Published Date : Jun 2024 | Type : Press Release
Digital IC Market Scope & Overview :
Digital integrated circuits (ICs) are semiconductor-based chips that integrate digital circuitry. These ICs offer numerous benefits, including low power consumption, high reliability, compact size, cost-effectiveness, lightweight design, and ease of replacement among other advantages.
Consegic Business Intelligence analyzes that the Global Digital IC Market size was valued at USD 93.71 Billion in 2022, projected to grow by USD 98.79 Billion in 2023, and is expected to register a CAGR of 7.7% to reach USD 179.47 Billion by 2031.
This report comprises Digital IC Market Share, Size & Industry Analysis, By Raw Material (Gallium Arsenide, Silicon, and Others), By Sales Channel ( Online and Offline), By End-User (Automotive, Consumer Electronics, Telecommunication, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
This report contains detailed information on Digital IC Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, expanding consumer electronics and automotive industries is driving the Digital IC market growth. In the automotive industry, digital ICs are integrated with electronic components for battery management, controllers, sensors, and driver assistance systems among others.
Segmental Analysis :
The Digital IC Market is segmented based on raw materials, sales channel, end-user, and region.
Based on raw material, the market is divided into Gallium Arsenide, Silicon, and Others.
- The silicon material contributed the largest revenue in 2022, due to its excellent electrical and thermal properties, which enable the fabrication of densely packed ICs and support the miniaturization of ICs.
- Over the forecasted years, gallium arsenide is expected to witness the fastest CAGR due to its features like high flexibility, greater resistance to moisture and lighter weight.
Based on sales channels, the market is bifurcated into online and offline.
- In 2022, the offline segment made the most substantial revenue contribution due to its ability to provide customers with higher credibility, and customizable options tailored to the target market among other advantages.
- The online segment is projected to experience the most rapid CAGR during the forecasted years due to the advantages it offers, including easy access to products, a streamlined buying process, swift comparison of multiple products and prices, and enhanced flexibility.
Based on end-user, the market is segregated into Automotive, Consumer Electronics, Telecommunication, and Others.
- In 2022, the consumer electronics segment contributed the largest revenue share of 32.81% due to the rising usage of electronic products like smartphones, laptops, and smartwatches among others.
- The automotive industry is expected to show the fastest CAGR due to widespread IC use in vehicle airbags, advanced driver assistance systems, in-vehicle communication, transmission control, engine management, and alternator electronics.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- In 2022, the North American region was valued at USD 31.64 Billion and is expected to reach over USD 61.34 Billion by 2031 due to rising industries in the region including automotive, telecommunication, etc.
- The Asia-Pacific region was valued at USD 22.22 Billion in 2022 and is estimated to reach over USD 44.20 Billion by 2031 with a CAGR of 8.2% because of expanding industrialization in the region.
| Report Attributes | Report Details |
| By Raw Material | Gallium Arsenide, Silicon, and Others |
| By Sales Channel | Online and Offline |
| By End-User | Automotive, Consumer Electronics, Telecommunication, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Digital IC Industry :
- Texas Instruments Incorporated
- Broadcom
- Infineon Technologies AG
- Lattice Semiconductor
- Taiwan Semiconductor Manufacturing Company
- Renesas Electronics Corporation
- Toshiba Corporation
- Analog Devices Inc.
- Qualcomm Technologies Inc.
- Intel Corporation
Recent Industry Developments :
- Pandora launched their new collection, in August 2022, with lab-created diamonds and 100% recycled silver and gold.
- In December 2021, Harry Winston, Inc. announced the opening of their new retail salon in Milan, Italy.
