At present, Asia-Pacific dominates the market, followed by North America. In 2017, China dominated the Asia-Pacific Market and Germany led the overall market in Europe. However, in North America, the U.S. currently dominates the market.
Top Impacting Factors:
Rise in demand of the modern system on chip (SoC) design and reduction in manufacturing and design cost impact the growth of the market. In addition, fluctuations in the development or functionality of the chips affect the growth of the global semiconductor IP market. These factors are anticipated to either drive or hamper the market growth.
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Increase in Demand of the Modern System on Chip (SoC) Design:
Semiconductor IP blocks are combined with the system on-chip (SoCs) and application specific integrated circuit (ASICs) products. Such products are then used for the production of chips, which are then installed in MP3 players, automobiles, televisions, mobile phones, and more. In addition, there is a rise in the demand for smart and power efficient devices, which propels the demand for the SoCs. This, in turn, is anticipated to fuel the growth of the global semiconductor IP market.
Reduction in Manufacturing and Design Cost:
There is continuous reduction in the design and the development of the semiconductor IP. For instance, use of monolithic 3D IC technology is projected to reduce the cost of the wafer due to reduced die size, scaling up of the processes, heterogeneous integration, and multiple layers processed together. This cost reduction supplements the growth of the semiconductor IP market.
The growth of the global semiconductor IP market is driven by rise in demand of the modern system on chip (SoC) design, and reduction in manufacturing and design cost. However, fluctuations in the development or functionality of the chips restrain the market growth. Further, In the near future, rising demand for consumer electronics, and new technological developments is expected to create lucrative opportunities for the key players operating in the semiconductor IP market.
Key Findings of the Study:
- Based on design IP, the processor IP is anticipated to dominate the global semiconductor IP market, in terms of revenue.
- The royalty IP source dominated the global semiconductor IP market in 2017.
- Asia-Pacific region held the majority of market share in 2017.
- Based on the type, of the applications consumer electronics segment is dominating the global semiconductor IP market in year 2017. However, the others application segment is expected to grow at the highest CAGR over the forecast period (2018-2024).
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
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