Semiconductor Intellectual Property (IP) Market Worth $ 6.5 Billion by 2024 - Exclusive Report by MarketsandMarkets

CHICAGO, December 17, 2018 /PRNewswire/ --

According to the new market research report "Semiconductor Intellectual Property (IP) Market by Design IP (Processor IP, Interface IP, Memory IP), IP Source (Royalty & Licensing), Vertical (Consumer Electronics, Telecom, Industrial, Automotive, Commercial), and Region - Global Forecast to 2024", published by MarketsandMarkets, the market is expected to grow from USD 4.9 billion in 2018 to USD 6.5 billion by 2024, at a CAGR of 4.78%. Major factors driving the semiconductor IP market include advancement in multicore technology for consumer electronics sector and increasing demand for modern SoC designs.

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The Processor IP segment is expected to grow at the highest CAGR in the global semiconductor IP market during the forecast period 

The semiconductor IP market has been segmented on the basis of design into 3 categories: Processor IP, Interface IP, and Memory IP. Among all IP designs, processor IP holds the largest size of the semiconductor IP market; processor IPs include microprocessor unit (MPU), microcontroller unit (MCU), and digital signal processor (DSP). Moreover, the market for memory IP is expected to grow at the highest CAGR owing to its benefits such as high switching speed, power efficiency, and their suitability with various consumer electronics and devices.

Automotive vertical is expected to hold the largest share in the global semiconductor IP market during the forecast period 

Among all verticals, the semiconductor IP market for automotive is expected to grow at the highest CAGR during the forecast period. Around 100 processors are used in a high-end automobile, which makes it a growing segment in the semiconductor IP market for the automotive vertical. The automobile industry is likely to witness the advanced versions of processors in the near future, with the advancements of enhanced signal processing algorithms project in safety, driver interfaces, emission control, and in-cabin entertainment and information. The key application areas of digital signal processor (DSP) include voltage regulation, digital radio, and control functions such as injection and ignition control, active suspension, and Hammerfall Digital Signal Processor (HDSP) for powertrain technologies. Owing to these applications, the automotive vertical is expected to become a lucrative market for semiconductor IP cores during the forecast period.