The North America ASIC Chip Market would witness market growth of 7.5% CAGR during the forecast period (2023-2030).
The US market dominated the North America ASIC Chip Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,201.5 million by 2030. The Canada market is showcasing a CAGR of 9.9% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 8.9% during (2023 - 2030).
As the demand for edge computing intensifies, innovations in ASICs cater to the specific needs of edge devices. Specialized ASICs designed for edge AI applications, including inference engines and neural processing units (NPUs), exemplify the industry's commitment to delivering high-performance computing at the edge of networks. Edge devices operate in diverse and resource-constrained environments, necessitating specialized solutions to meet their unique computational demands. ASICs designed for edge computing are crafted to deliver optimal performance while considering power efficiency, compact form factors, and the ability to operate in harsh conditions.
Additionally, security innovations in ASICs address the growing concerns related to cybersecurity. Secure elements embedded within ASIC designs enhance the protection of sensitive data and cryptographic operations, making ASICs more resilient to potential security threats. Cryptographic operations form a cornerstone of many secure applications, including secure communication, digital signatures, and data encryption. ASICs with embedded secure elements enhance the execution of cryptographic algorithms, bolstering the overall security of these operations. This is particularly vital in industries where data integrity and authenticity are paramount.
In addition, Canada has a robust aerospace manufacturing sector with companies involved in producing aircraft components, avionics, and satellite technologies. The demand for ASIC chips in avionics systems, navigation equipment, and communication systems is driven by the need for innovative and high-performance solutions. As per the data from the Government of Canada, the regional development agencies (RDAs) of Canada implemented the Aerospace Regional Recovery Initiative (ARRI) with a total budget of $250 million over three years (until March 31, 2024). It served as a supplement to the assistance extended to the aerospace sector via the Strategic Innovation Fund and Canada’s COVID-19 Economic Response Plan, respectively, by Industry, Science, and Economic Development (ISED). Therefore, North America’s growing aerospace and automotive sectors will assist in the growth of the regional ASIC chip market.
Free Valuable Insights: The ASIC Chip Market is Predict to reach USD 35.5 Billion by 2030, at a CAGR of 8.2%
Based on Type, the market is segmented into Semi- custom ASIC, Full custom ASIC, and Programmable ASIC. Based on End User, the market is segmented into Data Processing Systems, Telecommunication Systems, Aerospace Subsystem & Sensors, Consumer Electronics, Medical Instrumentation, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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