According to an industry report, China's integrated circuit (IC) market, the largest in the world, posted strong growth in 2020, reaching $ 143.4 billion last year.
According to IC Insights, a leading semiconductor market research firm, China's IP market has increased 9% from $ 131.3 billion in 2019.
The report states that 60% of the total Chinese IP market has been exported. They have been integrated into equipment or products.
According to the company, logical ICs became the leaders in the field of sales of IP products, and their share in the country's market was 26%. At the same time, microprocessors took the second place in this indicator, which was facilitated by high sales of smartphones around the world, as well as an increase in sales of various computing systems.
The Chinese logical IC market is expected to remain the largest segment of IC products until 2025 in the country, with a compound annual growth rate of 10.5% during the forecast period, the company said.