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Semiconductor IP Market Size, Share and Industry Analysis – 2023
The semiconductor intellectual property (IP) market is in the growth phase and is expected to continue to grow further in the near future. This market was valued at USD 6.22 billion in 2023, at a CAGR of 4.87% between 2017 and 2023. The growth of this market is driven by the advancement in multicore technology, increasing demand for modern SoC designs, rising chip design cost and expenditure, and growing demand for connected devices.
The major opportunities for the semiconductor IP market growth include the tremendous growth potential of the embedded digital signal processor (DSP) IP and programmable DSP IP segments in the coming future Adidas Prophere NZ , and huge growth prospects for the semiconductor IP market from the avionics, and aerospace and defense sectors. Moreover, the developments in the telecom and automotive verticals such as 5G and autonomous vehicles would also provide new opportunities for the semiconductor market players to grow.
The consumer electronics sector presents tremendous growth opportunities for the semiconductor industry as well as to the semiconductor IP market players. The semiconductor industry is highly dependent on consumer electronics such as smartphones, tablets, and memory products. Integrated circuits(IC) and system on chip (SoC) are extensively used in these consumer electronics applications. An increase in the demand for these products is reinforcing the semiconductor market as well as the semiconductor IP market.
The semiconductor IP market for memory IP is expected to grow at the highest CAGR during the forecast period. Demand for memory IP is rising owing to need for high-speed Adidas Iniki Runner NZ , low-power-consuming, and highly scalable memory devices as well as due to the growing demand for memory in connected and wearable devices. Processor IP continued its dominance in the semiconductor IP market based on design IP, in terms of value, in 2016 and is expected to dominate the market during the forecast period too.
The semiconductor IP market for royalty is expected to grow at a higher CAGR during the forecast period. Royalty is expected to continue its supremacy as it is the most favorable source of obtaining IP owing to the preference of manufacturers to pay for the IP only as much as they use it unlike the process of licensing in which manufacturers must pay for certain tenure.
The semiconductor IP market for the automotive vertical is expected to grow at the highest CAGR between 2017 and 2023. The growth of the market for the automotive vertical is attributed to the increase in the application of all the form factors such as memory, processor Adidas Yeezy Boost NZ , interface, and analog systems in the safety applications, mainly, as well as in drive assistance system, a navigation system Adidas Energy Boost NZ , parking sensors, and energy-efficiency applications.
The market in APAC is expected to grow at the highest CAGR during the forecast period owing to the emerging semiconductor market and highest consumption of consumer electronics in the region. China accounted for the largest share of the semiconductor IP market in APAC in 2016. An increase in the IP-connected activities including a processor, memory, and interface manufacturing has spurred the growth of the market in APAC owing to the increased government funding to promote the semiconductor industry in this region. As a result of this, many semiconductor IP market players are investing into this region Adidas Pure Boost NZ , thereby, resulting in the market growth.