IC Market: Why it is important that much

 

IC Market: History and Importance in Today’s World

Integrated Circuit (IC) is a small semiconductor chip made of silicon which is used in almost every electronic device. These IC or semiconductor chips are the heart of any electronic device or equipment. An Integrated Circuit chip can either be analog or digital or combination of both. The very first Integrated Circuit chip was developed in Mid-20th century. The credit for its vast industrial application goes to Intel, as it was one of the early IC Manufacturing companies to indulge in IC market and started manufacturing them in bulk. Intel is one of the leading companies in the IC market. The significance of IC chip may not seem that much to a common person but without them almost any electronic device will not work. Today these chips are used widely in almost every field and every industry from agriculture, to automobiles, aerospace to defence, Tech industry to electrical appliances, Healthcare to Space industry. Without them, our daily routine will fall apart, and the world become a chaotic place. The increasing adoption of the Internet of things (IoT) is expected to drive the demand for integrated circuits (ICs) in the upcoming time. ICs allow us to sense, understand, and transmit intelligent data. IoT is expected to boost the growth of the integrated circuit market, due to various benefits of using analog ICs across a wide range of real-time connected devices and applications.



In 2009 the global integrated circuit market size was $190.34 Billion which increased to $354.56 Billion in 2020 and it is expected to grow by around 8.25% in 2021. Texas Instruments, Toshiba, Qualcomm, Derf Electronics Corporation, Infineon Technologies AG, STMicroelectronics, Intel Corporation, FUJITSU, TSMC are some of the major players in the field of integrated circuit market. It is important to understand that with never ending demand for IC chips the market will surely follow upwards trend and will grow many-folds in upcoming years. Due to increase in demand for more and more wireless technologies, 5G rollout, advancement in space travel, self-driving cars, widespread application of 3D-technology, increasing growth of VR industry and the role of artificial intelligence in future, all of these are factors/reasons why the role of IC chip and its market is so important.

Countries like Taiwan, South Korea, Japan, USA are some of the leading countries in IC market while countries like China & India are also emerging and giving a tough competition. With the growing competition among these countries the market players in the market has also increased significantly. An industry which had only handful of companies manufacturing IC chips by the end of 20th century is today, home to more than two dozen companies as leading manufactures. The importance of IC market is beyond our imagination as we there is not even a single industry or industry which can work without using IC chips. IC market may not be the most valuable industry in the world when compared in monetary terms, by when we take application parameter as the base it is surely one of the most important industry in the world.


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