APAC is expected to continue to lead the semiconductor IP market and also expected to be the fastest growing region. This growth is mainly attributed to the increasing investment of players in Semiconductor IP in the region. Asia has more number of manufacturing firms with over 150 small IP vendor firms and IP firms. Semiconductor wafer manufacturing has been dominated by the firms based in China, India, Taiwan, and Singapore. Many major IDMs are outsourcing wafer production to Asia. APAC is also the highest consumer of electronics products that makes it a growing market potential region for semiconductor IP players. China, Japan, South Korea, and India offer some of the prolific electronics manufacturers in APAC. Therefore, there is a continuous demand for semiconductor IP in APAC. The availability of an enormous pool of cheap and underemployed labors was the most important determinant of the growth of the market in East Asia in the 1960s and 1970s. The US firms made their way to the market in East Asia through Hong Kong. Several factors that made East Asia a particularly attractive location include political stability, open financial system with no limits on repatriation of profits, and excellent telecommunications and transport facilities in this region. Taiwan, South Korea, and Singapore share the same benefits. Additionally, Hong Kong has the added advantage because of flourishing industrial economy based on textiles, garments, plastics, and other labor-intensive industries. Hong Kong had well-developed international trading networks and logistic capabilities.
The processor IP market for semiconductor IP is expected to hold the largest share during the forecast period
The processor IP market is expected to hold the largest market share during the forecast period. Processor IPs have several use cases in consumer electronics and automotive verticals, which also cost high. These are used in advanced driver assistance systems (ADAS) and infotainment systems in the automobile sector. High deployment of processors in consumer electronics products is one of the vital factors for the market growth of processor IPs. These processors are mainly classified into 3 major processing units: microprocessor unit (MPU), microcontroller unit (MCU), and digital signal processor (DSP).
The market for royalty sourcing is expected to continue to hold the largest share by 2024
The semiconductor IP market for royalty sourcing is expected to hold the largest share during the forecast period. In royalty IP sourcing, a chip manufacturer will have to pay for every single chip it manufactures. The market for royalty is flourishing due to fluctuations in the market for technology, as royalty can help manufacturers produce as much products as they wish and pay royalty for that products only. Moreover, majority of the giants source their semiconductor IPs through royalty model instead of licensing. This is one of the core reasons owing to which the market for royalty-based semiconductor IP is high.
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The market for automotive vertical is expected to witness highest growth from 2018 to 2024
The semiconductor IP market for automotive is expected to grow at the highest CAGR during the forecast period. The growth of semiconductor IP in the automotive sector is due to increasing application of microprocessor units (MPUs), microcontroller units (MCUs), sensors, analog integrated circuits (ICs), interfaces, and memory in autonomous and premium cars. The automotive industry is witnessing a digital transformation. The industry is moving toward digitization; dozens of embedded processors connected via multiple digital networks are controlling and optimizing operations of almost every system in automotive operations. The automobile industry is likely to witness the advanced versions of processors in future, with the advancements of enhanced signal processing algorithms project in safety, driver interfaces, emission control, and in-cabin entertainment and information. Approximately 100 processors are used in a high-end automobile, which makes it a flourishing application segment in the market.
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