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, 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, 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, interface, and analog systems in the safety
applications, mainly, as well as in drive assistance system, a navigation
system, 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,
thereby, resulting in the market growth.
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