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The Application Specific Integrated Circuit (ASIC) Market is estimated to exceed USD 28 billion by the end of 2032, driven by the growing adoption of Artificial Intelligence (AI) and Machine Learning (ML). Improvements in semiconductor production techniques, such as the shift to lower nanometer nodes, are enabling the integration of more complicated functionality onto a single ASIC chip. Full custom ASICs are gaining significant prominence due to their ability to offer high level of performance optimization. The consumer electronics industry is projected to record over 6% CAGR from 2023 to 2032, due to the increasing demand for high-performance solutions.