Next gen IC market to expand through 2030
EP&T MagazineElectronics Semiconductors ICs semiconductors
Driven by increasing demand for IoT devices, rising investment by prominent market players
The global next generation integrated circuit market size is expected to reach USD 3,157.9 Million in 2030 and register a revenue CAGR of 15.3% over the forecast period, according to latest analysis by Emergen Research. Increasing demand for next generation integrated circuits in smartphones and other smart devices, and significant investments in advanced driver assistance systems by major market participants are driving market revenue growth.
The next generation integrated circuit is a type of integrated circuit made of advanced materials and components, to improve energy efficiency, convenience, security features, and functionalities. Very-large scale integration, for example, reduces the size of circuits, increases cost-effectiveness of devices, and improves performance in terms of circuit operating speed. These benefits increase the reliability of next-generation integrated circuits and make them an ideal component for a variety of electronic appliances.
Some Key Highlights from the Report
In January 2022, Navitas Semiconductor, the industry leader in Gallium Nitride (GaN) power integrated circuits, announced the establishment of a new electric vehicle design centre as part of its continued expansion into higher power GaN market. Compared to legacy silicon solutions, GaN-based onboard chargers are expected to charge three times faster and save up to 70% of energy.
Mixed-signal integrated circuit segment accounted for a significantly large revenue share in 2020. Majority of industries acknowledge the benefits of using mixed-signal integrated circuits, which help in improving reliability, lowering initial costs, and reducing power usage. This has resulted in high preference for mixed-signal integrated circuits among end-use industries, which is expected to drive revenue growth of this segment.
Surface mount packaging segment accounted for a significantly large revenue share in 2020, due to greater preference for surface mount packaging and advantages provided by it, such as reduced component size, increased component density, and improved mechanical performance under shock and vibration conditions. Furthermore, lower initial cost, as well as simple and quick automated assembly, make it a popular choice among end users.
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