ASIC (Special Purpose Integrated Circuits)

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2024: The global ASIC market grew to $21.53 billion over the year

At the end of 2024, costs in the global market for special-purpose integrated circuits (ASIC) reached $21.53 billion. Almost half of this amount fell on the Asia-Pacific region. Such data are presented in a study by Fortune Business Insights, the results of which were released on March 24, 2025.

One of the key drivers of the industry is the rapid development of artificial intelligence and high performance computing (HPC). Compared to traditional general-purpose processors and AI accelerators, ASIC products offer advantages such as improved performance, reduced power consumption, and smaller physical size. In addition, ASIC integration with system-level software and firmware improves the performance of complex electronic devices.

ASIC solutions are widely used in the field of cryptocurrency mining. The main advantage of such products is their optimization for specific encryption algorithms, such as SHA-256 for Bitcoin or Scrypt for Litecoin. Thanks to this, ASIC miners provide high hashrate performance, which allows them to generate more cryptocurrency in less time compared to traditional equipment. At the same time, energy consumption is reduced, which ensures a general reduction in financial costs.

The introduction of AI into device design processes has a positive impact on the ASIC market. Thanks to these algorithms, developers can quickly generate different design options based on certain criteria, such as efficiency, physical dimensions, and cost. In addition, AI is able to analyze the characteristics of end devices and predict possible failures, which ultimately reduces downtime, increases reliability and extends the life of equipment. By implementing ASIC, companies can gain a competitive advantage.

The main deterrent to analysts is the high cost of developing ASIC. Significant costs and technological difficulties associated with special purpose integrated circuits prevent their faster distribution in the market.

In terms of ASIC application, the industry is segmented into consumer electronics, automotive, industry, biomedicine and healthcare, telecommunications, etc. In 2024, the first of these areas provided the largest share of revenue - approximately 28.5%. In addition, the automotive industry and the industrial sector made significant contributions. From a geographical point of view, the Asia-Pacific region dominates, which accounted for $9.53 billion in revenue, which corresponds to 44% of the total. At the same time, Europe is showing the highest growth rates, followed by North America. The leading players in the global market include:

• Analog Devices;
• NXP Semiconductors;
• Microsemi;
• Broadcom;
• Infineon Technologies AG;
• Intel;
• Renesas Electronics;
• STMicroelectronics;
• Texas Instruments;
• ON Semiconductor.

In 2025, spending on ASIC products worldwide is expected to reach $22.78 billion. Fortune Business Insights analysts believe that in the future, the CAGR in the market under consideration will be 7.1%. As a result, by 2032, costs on a global scale could increase to $36.8 billion. In general, the observed growth is due to the development data centers for AI, the ecosystem Internet of things, networks, 5G consumer, electronic engineers intelligent vehicles, etc.^[1]

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