Application Specific Integrated Circuit (ASIC) Market Size, Share, Trend, Dynamics, Forecast, Growth

The application specific integrated circuit (ASIC) market was estimated at USD 16.93 billion in 2023 and is likely to grow at a CAGR of 5.32% during 2023-2028 to reach USD 21.94 billion in 2028. ASICs are designed to meet specific application requirements, which makes them more efficient and power-saving than general-purpose ICs. With the growing demand for high-performance and energy-efficient electronics, the demand for ASICs is set to surge.