April 12, 2024

Analog IC Market is Estimated to Witness High Growth Owing to Increase in Demand for Mixed-Signal ICs

They are core components in numerous electronic devices used for measurement, control and communication applications. Some key functions performed by analog ICs include amplification, filtering, isolation, conversion between analog and digital signals. They find widespread adoption in sectors like industrial, communication, healthcare, automotive among others.

The global analog IC market is estimated to be valued at US$83.59 billion in 2024 and is expected to exhibit a CAGR of 16% over the forecast period from 2024 to 2030.

Key Takeaways
Key players operating in the analog IC Market are Illumina, Inc., Thermo Fisher Scientific, Inc., Qiagen N.V., F. Hoffmann-La Roche Ltd., Foundation Medicine, Inc. (Roche), Invitae Corporation, NeoGenomics Laboratories, Inc., Myriad Genetics, Inc., Genomic Health, Inc. (Exact Sciences Corporation), Caris Life Sciences, ArcherDX, Inc. (Invitae Corporation), Guardant Health, Inc., Personal Genome Diagnostics Inc., Biocept, Inc., Tempus Labs, Inc. The key opportunities in the analog IC market include increasing investment by governments to promote precision medicine. Also, growing demand for personalized medicine is fueling the adoption of analog ICs in genomic applications. Technological advancements like next generation sequencing (NGS) are also propelling the growth of the analog IC market.

Market drivers
The major driver for the analog IC market is the rise in demand for mixed-signal ICs across various industries. Mixed-signal ICs integrate both analog and digital circuits on a single chip and see extensive usage in applications like data conversion, signal processing, power management among others. Another key growth driver is the increasing penetration of Internet of Things (IoT) devices which utilize analog ICs for tasks like sensing and data transmission. Steady proliferation of connected devices across industrial, automotive, consumer electronics and other verticals is thus augmenting the demand for analog ICs.

Current challenges in Analog IC market:

The analog IC market is facing challenges due to growing demand for more complex system-on-chip designs requiring high level of integration. Managing power consumption during complex analog and mixed signal processing on chip is also a key challenge. Device miniaturization poses reliability issues due to process variation impacting analog performance. Rising design complexities have increased verification and validation efforts for IC designers. Skill shortage is another concern as analog design requires specialized expertise different from digital domains.

SWOT Analysis

Strength: Analog ICs offer seamless interfacing of real world signals with digital systems. Once designed they can precisely convert continuous signals.
Weakness: Analog design is more challenging than digital due to issues like parasitic noises. Modifications require full redesign and verification unlike modular digital designs.
Opportunity: Rapid adoption of IoT devices and industrial automation creating demand. Growing 5G infrastructure also opens up opportunities for mixed signal solutions.
Threats: Increased digitization poses threat from digital signal processors for some applications. Rising cost of development can shift focus to digital alternatives.

Geographical regions of concentration

The Analog IC Market Size  in Asia Pacific region currently accounts for over 40% of global market value led by large semiconductor industries in China, Taiwan, South Korea and Japan. Presence of leading analog device manufacturers have made it a major manufacturing hub.

Fastest growing region

North America region is projected to witness highest growth during the forecast period owing to faster 5G deployment thereby creating opportunities for advanced mixed signal and RF ICs. Growing focus on automotive electronics adoption is another major driver of analog IC demand in this region.

Market Name- Digital Pathology Market; CAGR: 12%; Forecast period: 2023 to 2029; Market Size for 2023: US$ 829.69 Mn; Key players: Philips, Hamamatsu Photonics, Leica Biosystems, 3DHISTECH, Apollo Enterprise Imaging, Xifin, Visiopharm, Corista, Indica Labs, Objective Pathology Services.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it