A new report by MarketsandMarkets projects that the semiconductor (silicon) IP space will be worth $7.01 billion in 2022, up from $3.09 billion in 2015.
“The driving factors for the growth of this market include increasing demand for advanced SoCs in the consumer sector, increased funding from governments and investors, emerging IoT ecosystem, recovering automotive sector and growing popularity of miniaturized devices,” MarketsandMarkets researchers explained in a recently published report summary.
“[In addition], increasing demand for pervasive M2M (machine-to-machine) connectivity and a rich user experience across industries has spurred new opportunities for growth in both traditional and emerging embedded processor market.”
The researchers also noted that emerging multi-core processors (quad-core and octa-core) for enhanced real-time experience in smart consumer electronics such as smartphones and smart wearables are expected to drive the embedded processor IP market.
“A strong consumer demand for smartphones, tablets, and other mobile devices is fueling significant growth within the semiconductor industry, and the rush to develop differentiated and powerful mobile solutions is driving rapid change within the entire ecosystem,” the researchers added.
“Mobile phones and tablets have become the necessity of every individual which has increased the demand for the same; this is expected to drive the semiconductor IP market. Key players in the market such as Synopsys (U.S.), ARM (U.K.), and Rambus (U.S.) design chips exclusively to cater this application sector because of its growth potential.”
The full report, titled “Semiconductor (Silicon) IP Market by Form Factor (Integrated Circuit IP, SOC IP), Design Architecture (Hard IP, Soft IP), Processor Type (Microprocessor, DSP), Application, Geography and Verification IP – Forecast & Analysis to 2022,” is available for purchase here.