Global Analog Integrated Circuit Market size was valued at around USD 368.50 billion in 2022 and is expected to rise from USD 396.87 billion in 2023 to reach a value of USD 718.42 Billion by 2031, at a CAGR of 7.7% over the forecast period (2024–2031).

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One of the main factors driving the growth of the global analogue integrated circuit (IC) market is the demand for power control in practically all electronic goods. Demand for Analogue integrated circuits in the communications industry will increase as smartphones, tablets, and other mobile devices become more and more popular. During the anticipated period, demand for Analogue ICs will increase as a result of factors including a quicker pace of new product development, decreasing IC cost per function and increased functionality, and a shorter product replacement cycle.

The growing use of IoT across multiple industries, analogue IC design is crucial. For the Internet of Things (IoT) to create an ecosystem of automated devices that can run with little power consumption, analogue integrated circuits are required. However, layout verification is a time-consuming, difficult, and error-prone activity done out by analogue designers to check circuits. The increasing design complexity of analogue ICs is one of the main obstacles to the market's growth.