APAC
is expected to continue to lead the semiconductor IP market and also
expected to be the fastest growing region. This growth is mainly attributed to
the increasing investment of players in Semiconductor IP in the region. Asia
has more number of manufacturing firms with over 150 small IP vendor firms and
IP firms. Semiconductor wafer manufacturing has been dominated by the firms
based in China, India, Taiwan, and Singapore. Many major IDMs are outsourcing
wafer production to Asia. APAC is also the highest consumer of electronics
products that makes it a growing market potential region for semiconductor IP
players. China, Japan, South Korea, and India offer some of the prolific
electronics manufacturers in APAC. Therefore, there is a continuous demand for
semiconductor IP in APAC. The availability of an enormous pool of cheap and
underemployed labors was the most important determinant of the growth of the
market in East Asia in the 1960s and 1970s. The US firms made their way to the
market in East Asia through Hong Kong. Several factors that made East Asia a
particularly attractive location include political stability, open financial
system with no limits on repatriation of profits, and excellent
telecommunications and transport facilities in this region. Taiwan, South
Korea, and Singapore share the same benefits. Additionally, Hong Kong has the
added advantage because of flourishing industrial economy based on textiles,
garments, plastics, and other labor-intensive industries. Hong Kong had
well-developed international trading networks and logistic capabilities.
The
processor IP market for semiconductor IP is expected to hold the largest share
during the forecast period
The
processor IP market is expected to hold the largest market share during the
forecast period. Processor IPs have several use cases in consumer electronics
and automotive verticals, which also cost high. These are used in advanced
driver assistance systems (ADAS) and infotainment systems in the automobile
sector. High deployment of processors in consumer electronics products is one
of the vital factors for the market growth of processor IPs. These processors
are mainly classified into 3 major processing units: microprocessor unit (MPU),
microcontroller unit (MCU), and digital signal processor (DSP).
The
market for royalty sourcing is expected to continue to hold the largest share
by 2024
The
semiconductor IP market for royalty sourcing is expected to hold the largest
share during the forecast period. In royalty IP sourcing, a chip manufacturer
will have to pay for every single chip it manufactures. The market for royalty
is flourishing due to fluctuations in the market for technology, as royalty can
help manufacturers produce as much products as they wish and pay royalty for
that products only. Moreover, majority of the giants source their semiconductor
IPs through royalty model instead of licensing. This is one of the core reasons
owing to which the market for royalty-based semiconductor IP is high.
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The
market for automotive vertical is expected to witness highest growth from 2018
to 2024
The
semiconductor IP market for automotive is expected to grow at the highest CAGR
during the forecast period. The growth of semiconductor IP in the automotive
sector is due to increasing application of microprocessor units (MPUs),
microcontroller units (MCUs), sensors, analog integrated circuits (ICs),
interfaces, and memory in autonomous and premium cars. The automotive industry
is witnessing a digital transformation. The industry is moving toward
digitization; dozens of embedded processors connected via multiple digital
networks are controlling and optimizing operations of almost every system in
automotive operations. The automobile industry is likely to witness the
advanced versions of processors in future, with the advancements of enhanced
signal processing algorithms project in safety, driver interfaces, emission
control, and in-cabin entertainment and information. Approximately 100
processors are used in a high-end automobile, which makes it a flourishing
application segment in the market.
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