Semiconductor IP Market to be Worth Over $6B by 2023
October 12, 2017 | MarketsandMarketsEstimated reading time: 1 minute
The semiconductor intellectual property (IP) market is expected to be valued at $6.22 billion by 2023, at a CAGR of 4.87% between 2017 and 2023, according to a new report by MarketsandMarkets. The major factors driving this market include the advancement in multicore technology for consumer electronics sector, increasing demand for modern SoC designs leading to market growth, and growing demand for connected devices.
Consumer electronics
The increase in the use of consumer electronics in all the regions is boosting the growth of the semiconductor IP market for the consumer electronics vertical. Moreover, the markets for consumer electronics in Asia-Pacific (APAC) and RoW are expected to provide further growth opportunities for the market players as these regions are in a growing phase. In addition, APAC holds dominant share in the market for consumer electronics.
Processor IP
Owing to the increased demand for microprocessor, microcontroller, digital signal processor, and graphics processing unit across various verticals, the processor IP segment held the largest share of the semiconductor IP market in 2016, and it is expected to continue the same during the forecast period. The growth of the segment during the forecast period is attributed to the increasing application of processors in the telecom industry for 5G and in high-end cars. The market for processor IP for the automotive vertical is expected to grow at the highest CAGR between 2017 and 2023 due to increasing use of processors in advanced driver assistance systems (ADAS) and infotainment systems.
Asia Pacific Market
APAC held the largest share of the market in 2016 and is likely to dominate the semiconductor IP market with the largest market share during the forecast period as well. APAC is a major market for the consumer electronics, telecom, and automotive verticals. Also, this region has become a global focal point for large investments and business expansion opportunities. Moreover, the developments in electric vehicles are expected to provide an opportunity to the growth of the semiconductor IP market in China.
Suggested Items
Altair SimSolid Transforms Simulation for Electronics Industry
03/29/2024 | AltairAltair, a global leader in computational intelligence, announced the upcoming release of Altair SimSolid for electronics, bringing game-changing fast, easy, and precise multi-physics scenario exploration for electronics, from chips, PCBs, and ICs to full system design.
IMI Taps New Opportunities to Sustain Grit in China
03/28/2024 | IMIIntegrated Micro-Electronics, Inc. (IMI), Joey S. Bantatua, IMI China’s head of operations and general manager was recently interviewed by Asia Electronics Industry (AEI) magazine where he talked about the prospects of the country both as a market and a production hub.
Kimball Electronics Publishes Annual Sustainability Disclosures with its 2023 Guiding Principles Report
03/28/2024 | BUSINESS WIREKimball Electronics, Inc. published its annual sustainability disclosures in its 2023 Guiding Principles Report, themed “How We Are Winning Together The Kimball Way.”
iNEMI Webinar: Humidity Robustness and Insulation Coordination for e-Mobility
03/27/2024 | iNEMIThis webinar is a follow-up to the recent Seminar on Humidity Robustness and Insulation Coordination for e-Mobility, organized by iNEMI and ZESTRON Europe and supported by the ECPE.
Electronics Industry Sentiment Rises in March
03/27/2024 | IPCIPC releases March 2024 Global Sentiment of the Electronics Supply Chain Report