Application Specific Standard Product Market - Innovation of Smart Television Drives the Growth
Application Specific Standard Product Market is expected to witness steady growth during the forecast period 2024, Application Specific Standard Product Market is growing consumer preference to electronic products
Application specific standard product (ASSP) is an integrated circuit used for a specific product in multiple units. These products consist of embedded programmable logic, mixed-signal, analog products as well as digital products. General purpose of ASSP integrated circuits is to cater to a wide range of applications. These circuits are used in several system-design houses across the globe. The market is expected to witness steady growth during the forecast period. The anticipated increase in demand for consumer electronics is anticipated to affect the demand for ASSP positively in the next few years. For providing detailed overview of the ASSP market, it has been segmented on the basis of applications and geographies. On the basis of applications, the market can be segmented into: communications, automotive, consumer electronics, computers, industrial applications, and others. Geographically, the ASSP market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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Use of ASSP in consumer electronics makes them highly cost-effective and efficient. Such beneficial features along with increasing usage are expected to dominate the market during forecast period. ASSP provides images with high quality. Such beneficial features made the innovation of the global smart Television, high resolution DSLR camera and smart phones is driving the opportunities for universal ASSP market. ASSPs are consolidated circuits that can perform audio and/or video de-coding and/or encoding. Short replacement cycle (SRC) of portable electronic devices increases the demand for consumer electronic devices, which is anticipated to drive the ASSP market. The automotive industry has been enjoying a period of relatively stronger profitability and growth worldwide. This is the most important factor driving the global application specific standard product market. Fueled by demand from carriers and data center technology is the most important factor driving the market opportunities for the global ASSP market. In addition, rising demand from the mobile phones & tablets industry is driving the global ASSP market. Local producers are introducing tablets and mobile phones. This market expansion is expected to augment the demand for ASSP during the forecast period. Things are more closely, smart-home applications such as automated lighting and heating growing demand in the market. This in turn has boosted the demand of these technology to a great extent in the global market.
However, high capital investment in the semiconductors industry is anticipated to limit several manufacturers from entering the ASSP market. This is estimated to hamper the growth of the ASSP market during the forecast period.
Geographically, in terms of revenue, North America held the major share in the global application specific standard product market in 2015. In Asia Pacific, China and India hold the leading share of the market in the region, due to growing consumer preference to electronic products and automation. The U.S. is the main hub for R&D (research and development) activities that take place in the semiconductors industry, which is opportunities for growing these market in future. Owing to significant growth in the electronics segment in China, India, the U.S., and Japan, the countries are major emerging markets for ASSP. Ever-changing consumer needs in the electronics industry is a key factor influencing the market for application specific standard product. The advancement of medical technology equipment may also act as a driving factor for the market.
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The application specific standard product market is characterized by presence of numerous key players. These companies include NXP Semiconductors (Netherlands), Infineon (Germany), Skyworks Solutions (the U.S.), Linear Technology (the U.S.), Renesas Electronic (Japan), ON Semiconductor (the U.S.), Melexis (Belgium), STMicroelectronics (Switzerland), Texas Instruments (the U.S.), Toshiba (Japan),, and Maxim Integrated Products (U.S).
Article Tags: Application Specific Standard, Specific Standard Product, Standard Product Market, Application Specific, Specific Standard, Standard Product, Product Market, Smart Television, Forecast Period, Consumer Electronics, Assp Market
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