According to a recent report published by Allied Market Research, titled, Global Semiconductor IP Market by Design IP, IP Source, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2024, the global semiconductor IP market was valued at $3,434 million in 2017, and is projected to reach $5,701 million by 2024, growing at a CAGR of 7.30% from 2018 to 2024.
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.
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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.
In 2017, the processor IP segment dominated the global semiconductor IP market in design IP segment, in terms of revenue. Furthermore, based on application, consumer electronics led the global market in 2017, followed by telecommunication. By IP source, royalty is anticipated to dominate the market throughout the forecast period. Surge in demand for semiconductor IP is expected to boost the market growth rapidly in the upcoming years, owing to rise in demand for the modern system on chip (SoC) design.
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Key Findings of the Semiconductor IP Market:
- Based on type, the target-free camera is anticipated to dominate the global 3D camera market, in terms of revenue
- The stereo vision technology dominated the global semiconductor IP market in 2017.
- Asia-Pacific held the majority of market share in 2017.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
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