The Analog IC Market is Anticipated to Witness High Growth Owing to Rising Demand for Portable Electronic Devices

The Analog IC Market is Anticipated to Witness High Growth Owing to Rising Demand for Portable Electronic Devices

Analog ICs help process real-world signals related to sound, temperature, pressure, images into digital signals that can be read by electronic devices. Some common applications of analog ICs include audio amplifiers, display drivers, temperature and voltage regulators. The growing popularity of portable consumer electronic devices such as smartphones, laptops, tablets is driving the demand for low power and energy efficient analog ICs. Analog ICs help improve the battery life of these devices and enable functions like audio playback, video streaming, touchscreen operations.

The Global Analog IC Market is estimated to be valued at US$ 83.59 Bn 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 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. Some of the major players are focusing on research and development activities to develop efficient and advanced analog ICs to meet the growing demand from end use industries.

In terms of opportunities, the increasing application of analog ICs into healthcare devices, industrial automation equipment and rising demand for electric vehicles will present numerous growth opportunities for players operating in the market.

Analog IC Market Size players are also expanding globally to tap the rising demand from international markets. Emerging economies like China, India, Mexico offer immense growth potential with their rapidly developing electronics and automotive sectors.

Market drivers: The growing sales of consumer electronics devices globally driven by increasing disposable incomes and rapid urbanization is a major market driver. As analog ICs help process sound, video inputs in these devices, the market will grow in tandem with the consumer electronics industry. Moreover, rise in the deployment of renewable energy projects owing to supportive government policies will drive demand for analog ICs used in solar panels, wind turbines, etc.

Market restraints: Higher manufacturing cost compared to digital ICs can restrain the market growth. Moreover, designing analog ICs is complex process requiring advanced technical expertise which poses a challenge for small players. Volatility in prices of raw materials used in analog ICs manufacturing can act as a market restraint.

Segment Analysis
The Analog IC market is dominated by the consumer electronics sub segment. With the rapid proliferation of consumer electronic devices such as smartphones, smart home devices, tablets along with increasing adoption of wearable devices and IoT devices, the demand for analog ICs from the consumer electronics sub segment has seen strong growth. These devices require diverse analog ICs such as amplifiers, converters, comparators in large volumes to power their various functions which has driven the consumer electronics sub segment's dominance of the overall Analog IC market.

Global Analysis
The Asia Pacific region is expected to be the fastest growing as well as the dominating region in the Analog IC market during the forecast period. This can be attributed to factors such as rising disposable incomes, growing electronics manufacturing industry and rising electronics consumption in developing countries of the region such as China, India. Additionally, the presence of several analog IC manufacturing units of key players in the region also supports local market growth. North America and Europe are also expected to seeNotable growth on account of strong electronics industry and R&D investments in these regions.
​
Get more insights on- Analog IC Market