Semiconductor Intellectual Property Market Growing $7.2 Billion by 2026, at a CAGR of 5.4%
January 28, 2022 at 12:58 PM EST
Northbrook, IL -- (SBWIRE) -- 01/28/2022 -- According to the report "Semiconductor Intellectual Property (IP) Market with COVID-19 Impact Analysis by Design IP (Processor IP, Memory IP, Interface IP, Other IPs), IP Source (Royalty, Licensing), IP Core (Hard IP, Soft IP), Vertical, and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the global market is expected to grow from USD 5.5 billion in 2021 to USD 7.2 billion by 2026, at a CAGR of 5.4%. Increasing the advancements for multicore technology across various sectors as well as rising demand for modern SoC (system on chip) designs for different applications are the primary factors driving the market growth. Moreover, growing adoption of semiconductor IPs in consumer electronics, telecommunications & data center as well as automotive verticals will drive the demand for this technology in the near future.