(EMAILWIRE.COM, March 17, 2020 ) The semiconductor IP market to grow from USD 4.7 billion in 2017 to USD 6.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. The major factors that are expected to be driving the market are advancement in multicore technology for consumer electronics sector and increasing demand for modern SoC designs. The objective of the report is to define, describe, and forecast the semiconductor IP market size based on design IP (processor IP, interface IP, memory IP, and other IP), IP source (royalty and licensing), by business model, vertical, and geography.

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Driver: Advancement in multicore technology for consumer electronics sector

Consumer electronics are becoming smarter and more intelligent due to increasing research and development activities. This is due to advanced components and chips made with the help of complex IPs designed for every application. The consumer electronics sector offers tremendous growth opportunities for the semiconductor industry and the semiconductor IP market players. The semiconductor industry is highly dependent on consumer electronics such as smartphones, tablets, and memory products. ICs and SoCs are extensively used in these consumer electronics applications, and an increase in demand for these products is reinforcing the semiconductor market and the market.

Presently, the consumer electronics sector holds a major share of the global semiconductor IP market. With the success of multicore technology in the embedded computing sector of large form factor, mostly in computing devices such as desktops, laptops, netbooks, and notebooks, the industry is expected to have a successful transformation in small form factor devices such as smartphones, tablet PCs, and other portable electronic gadgets such as wearable electronics.

The market for multicore processors is growing rapidly owing to the advancement of personal computing for consumer electronics globally and emerging technological advancements such as octa-core processors for smartphones. These multicore processors would present opportunities for the growth of the global semiconductor IP market in the future. Today, most portable consumer electronics run on multicore (dual-core or quad-core) processors. These processors are helping companies to be competitive in the market for consumer electronics by exhibiting fast, efficient, and error-free performance

Asia Pacific is expected to hold the largest share of the semiconductor IP market during the forecast period

The market in APAC is expected to witness the highest CAGR during the forecast period. Several factors that made 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. Favorable policies by the Chinese Government and increased funding for promoting applications of semiconductors are expected to further drive the semiconductor IP market in China. Demand for consumer electronics in the Americas and Europe is less than that in APAC due to the growing population in the region.

Key players in the semiconductor IP ecosystem include ARM Holdings (UK), Synopsys (US), Cadence (US), Imagination Technologies (UK), Lattice Semiconductor (US), CEVA (US), Rambus (US), Mentor Graphics (US), eMemory (Taiwan), and Sonics (US)

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