Global Semiconductor Memory IP Market - Segmented by Product (NAND, DRAM), End User (Consumer Electronics, Industrial, Automotive), and Geography - Growth, Trends, and Forecast (2018 - 2023)
The semiconductor memory IP market is expected to register a CAGR of 12.1% over the forecast period (2018 - 2023).
The scope of the report includes insights about several products offered by major players. The end user segment includes consumer electronics, industrial, automotive, and networking. The regions included in this study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
The increasing demand to integrate the maximum possible functionalities on a SOC has resulted in a rise in the number of semiconductor IPs. To reduce designing complexity, companies are outsourcing the designing aspects to third-party semiconductor IP companies. Several smart electronics, such as wireless communication equipment, smartphones, and telemetry devices, have started integrating this technology, thereby increasing the demand for semiconductor memory IP.
Increasing Demand from Consumer Electronics to Play a Key Role
Traditionally, the consumer electronics market constantly demands higher power dissipation, faster speeds and higher pin counts, along with smaller footprints and lower profiles. The miniaturization and integration of semiconductors have given rise to smaller, lighter, and more portable devices, like tablets, smartphones, and the emerging IoT devices. Each iteration of a consumer electronics product is becoming smarter, lighter, and more energy-efficient than its predecessors. With this level of technology, consumers are now tending toward more reliable gadgets that could stand minor mishaps that take place in day to day activities. Smartphone and tablet sales have increased in comparison to the others. High demand for smart, power saving, and efficient household equipment drives consumer electronics manufacturers to deliver high-quality products. The demand for high-performance ICs has increased significantly, thereby impacting the semiconductor memory IP market.
Asia-Pacific to Occupy Significant Share
The presence of numerous major electronics manufacturers, where millions of semiconductor devices are being produced is one of the major reasons supporting market growth in the Asia-Pacific region. Increasing adoption of smart consumer electronics, rapid growth in internet users, and increasing use of connected devices are the major factors impacting the adoption rate of semiconductor memory IP.
Key Developments in the Market