LONDON–(BUSINESS WIRE)–Technavio’s latest market research report on the global digital IC market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. According to Technavio analysts, the global digital IC market will grow at a CAGR of close to 8% during the forecast period. The growing adoption of consumer electronics is a major factor driving the market’s growth.
The use of digital IC in devices such as smartphone and tablets have become crucial. The increasing focus on improving digital experience by system integrators has resulted in the rising reliability of digital ICs. On the other hand, integration of features such as gesture and voice command in these devices require digital ICs in the back-end. Consumer electronics devices such as smartphones and monitors also extensively use digital ICs, which are considered as a significant potential segment by the players in the market because of the high volume of production/shipment of smartphones and monitors worldwide.
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In this report, Technavio highlights the increasing investments in autonomous cars as one of the key emerging trends in the global digital IC market:
Increasing investments in autonomous cars
Autonomous cars are also known as self-driving cars as they do not have any interaction with a human driver. Autonomous vehicles depend on a combination of sensors, actuators, and powerful processors to execute the software. The operation provided by autonomous cars are navigation and guidance, driving and safety, and managing basic internal systems.
“Automation in the automotive sector will require analog signals to be converted into digital, thereby, requiring the use of digital and mixed ICs. As the automotive segment is expected to undergo digitalization over the forecast period, the global digital IC market is also expected to grow uniformly. From infotainment systems to electric vehicle charging and keyless entry, players in the market are designing short-range digital signal ICs to cater to automotive applications,” says a senior analyst at Technavio for research on embedded systems.
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Global digital IC market segmentation
This market research report segments the global digital IC market into the following products (logical devices, memory devices, and micro devices), end users (consumer electronics, telecommunication, and automotive), and key regions (the Americas, APAC, and EMEA).
The logical devices segment held the largest market share in 2017, accounting for nearly 40% of the market. The market share for this product is expected to decrease by 2022. The fastest growing product is memory devices, which will account for nearly 37% of the total market share by 2022.
APAC was the leading region for the global digital IC market in 2017, accounting for a market share of nearly 71%. By 2022, APAC is expected to continue dominating the market and register the highest growth rate.
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