The global rugged IC market revenue was US$ 810 million in 2020. The global rugged IC market revenue is forecast to reach US$ 1,551.6 million by 2030, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period from 2021-2030.
ICs (integrated circuits), also known as microchips, are semiconductor-based electrical circuits. Electronic devices such as TVs, cellphones, computers, cameras, washing machines, and microwaves contain integrated circuits. The most rugged integrated circuits are made out of silicon carbide because the semiconducting material can resist high voltages and has high thermal conductivity. The performance of rugged ICs is far better than that of typical ICs, due to their superior design and build quality. The advanced integrated circuits improve analog and digital circuit efficiency and are used in various sectors such as electronics, power generation, automobiles, and aerospace.
Factors Influencing Market Growth
A number of factors, such as the development of smart cities, an increase in demand for rugged computing, and a rise in the adoption of rugged systems, are forecast to drive growth in the global rugged IC market in the future.
Due to their high production cost, rugged devices may pose a barrier to the global rugged IC market growth.
Growing demand for rugged and reliable electrical equipment in the military and aerospace industries should create lucrative opportunities for the global rugged IC market.
Impact Analysis of COVID-19
COVID-19 had negatively impacted the global rugged IC market. Globally, partial or complete lockdowns in many countries have slowed the growth rate of the market. In addition to temporarily shutting down industries, it also reduced the need for maintenance from various sectors. Further, the global manufacturing and industrial sectors have stalled as production facilities have stopped, resulting in a significant decline in demand in those industries.
However, post-COVID-19, the global rugged IC market is forecast to have slow growth.
Region-wise, Asia Pacific is forecast to grow at the highest CAGR in the forecast period. This region's dominant market position is directly attributable to continuous government efforts to modernize and strengthen military forces. Currently, the government is increasing its defense budget annually to procure more advanced equipment, systems, and technologies. The Asia Pacific is also a global leader in digital platforms. China and India are two of the most densely populated countries in the world. As a result of its large population and broad consumer base, the telecommunications industry finds ample room for growth.
The leading prominent companies profiled in the global rugged IC market are:
Analog Devices Incorporated
General Dynamics Corporation
Honeywell International Incorporated
Infineon Technologies AG
NXP Semiconductors N.V.
Richtek Technology Corporation
Texas Instruments Incorporated
Other Prominent Players
Scope of the Report
The global rugged IC market segmentation focuses on Level, Application, End-Use, and Region.
Segmentation based on Level
Segmentation based on Application
Segmentation based on End-Use
Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America