Improving Consumer Electronics Usage To Boost The Growth Of Global Analog Ic Market
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| Analog Ic Market |
The global Analog Ic Market is estimated to be valued at US$ 72.56 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Analog ICs are integrated circuits which can handle real-world signals like
sound, temperature, pressure or light intensity etc. They are important
components in consumer electronics like mobile phones, tablets, laptops etc. as
they enable signal processing and conversion between analog and digital
domains. With increasing usage of consumer electronics globally, demand for
analog ICs is growing as they play a vital role in interfacing between
electronics and the real world. Their key advantages include lower power
consumption, versatility and ability to process continuously varying signals.
Market key trends:
One of the key trends spurring growth in the analog IC market is the increasing
adoption of Internet of Things (IoT) technology. As more devices get connected
through IoT, there is greater need for signal processing and interfacing ICs.
According to estimates, the number of IoT connected devices is expected to grow
to over 30 billion by 2030. This growing IoT ecosystem will drive significant
demand for analog ICs. Furthermore, the increasing focus on advanced
driver-assistance systems (ADAS) in automobiles is also expected to boost the
analog IC market owing to greater electronics integration in vehicles.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Analog IC market is
moderate as there is a significant capital requirement for starting a new
Analog IC design house. Additionally, established players enjoy economies of
scale and brand recognition.
Bargaining power of buyers: The bargaining power of buyers is high in this
market as Analog ICs are commodity products and buyers can negotiate on price
easily. Buyers can switch between Analog IC vendors based on pricing and
quality.
Bargaining power of suppliers: Given the intensity of competition and
availability of alternative raw material sources, the bargaining power of
suppliers is moderate.
Threat of new substitutes: The threat of new substitutes is low as Analog ICs
have widespread applications across various end-use industries and there are
limited alternatives currently available.
Competitive rivalry: The competitive rivalry in the Analog IC market is high
due to the presence of numerous global and regional players offering similar
products. Players compete based on product pricing, quality, and innovation.
Key Takeaways
The Global
Analog IC Market Demand is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period,
due to increasing adoption across consumer electronics, automotive, healthcare
sectors. The market size for 2023 is US$ 72.56 Bn.
Regional analysis: North America is expected to dominate the global Analog IC market
during the forecast period, followed by Asia Pacific. This is attributed to
increasing demand for consumer electronics and presence of major Analog IC
players in North America. The Asia Pacific Analog IC market is propelled by
growing electronics manufacturing activity in China, Taiwan and presence of
fabless Analog IC design companies in the region.
Key players: Key players operating in the Analog IC market are Texas
Instruments Incorporated, Renesas Corporation, Infineon Technologies AG,
Qualcomm Technologies, Inc., NXP Semiconductors, ON Semiconductor,
STMicroelectronics, Skyworks Solutions, Inc., Analog Devices, Inc., and Maxim
Integrated Products Inc. Texas Instruments Incorporated stands as the global
leader with wide product portfolio and strong distribution network worldwide.
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