The global standard logic devices market is projected to witness a healthy growth in the coming years, according to a Transparency Market Research (TMR) report. Fragmentation and stiff rivalry characterize the market’s current business ecosystem. A fair amount of consolidation is expected to make way into the market, on account of vendors adopting strategies such as mergers and acquisitions to gain traction.
Vendors in the global standard logic devices market are expected to capitalize on leading industry trends such as wearable technology, customization, and minimization. Product innovation will focus on building more compact, thinner, and lightweight electronic gadgets. This trend is likely to be leveraged by vendors in the standard logic devices market in the coming years.
According to TMR analysts, the global standard logic devices market was worth US$51.2 bn in 2016. Over the forecast period 2017 to 2025, the market is predicted to rise at a 6.9% CAGR. The market is forecasted to reach US$92 bn by the end of 2025.
Among the transreciever types, the segment of standard transceiver is anticipated to remain dominant over the forecast period. The segment is anticipated to exhibit a 6.7% CAGR over the forecast period. The segment is expected to register a 6.7% CAGR during the duration of forecast. Geography-wise, the global standard logic devices market is expected to be led by Asia Pacific, with a 7.2% CAGR.
Growing Automation to Propel Market
Automation makes industrial operation much easier, while demand for driver aid technology has steadily grown in the automotive industry. Increased use of premium automotive driver help technology has led to a major downward trick in the industry, driving demand from the automotive industry’s standard logic devices market. The growing demographic of ultra-high net worth in the emerging regions is thus vital for the global market for logical devices.
Data Processing Applications to Offer Lucrative Opportunity
One of the key factors that are driving growth in the market for standard logic devices in the coming years is the use of artificial intelligence (AI) accelerators in datacenters. Mobile data traffic is growing quickly due to the use of HMI technologies, the development of IoT and cloud computing in data centers. During the forecast period, communication and data processing applications are likely to increase the sales share of standard logic devices. The increasing investment in building and expanding data centers for managing and processing explosive data center growth drives demand on the market.
Automotive Applications to Drive Growth
Many important innovations such as automated driving are on the rise in the automotive industry. This technology and the emergence of electric vehicles can create a smart and sustainable future. However, automated systems require sensors, AIs and actuators to be integrated. The standard logic device market is expected to benefit from this. In addition, car sharing services such as Ola and Uber promise to further reduce cost savings and reliability on human efforts in the automation trend. These leading companies have invested millions in R&D to build their own automated systems. This is a key trend that is projected to boost the global standard logic devices market.