Rising Demand for Consumer Electronics to Boost the Global Microprocessor Market Through 2031

According to Markets and Data, Research report, “Global Microprocessor Market Assessment, By Region, Opportunities, and Forecast, 2017-2031F”, the Global Microprocessor Market was valued at USD 109.48 billion in 2023 and is expected to register a CAGR of 6.44% during the forecast period.

The increasing popularity of electric vehicles (EVs) and the integration of autonomous driving features in the automotive industry are positively impacting the growth of the microprocessor market positively. EVs and self-driving vehicles heavily rely on advanced microprocessors for tasks like processing sensor data, enabling artificial intelligence capabilities and managing connectivity. As these technologies become more widespread, the demand for high-performance microprocessors, including central and graphics processing units, continues to soar. These microprocessors enhance vehicle safety, efficiency, and user experience. The expanding EV and autonomous vehicle market underscores the significance of robust and efficient computing solutions in the automotive sector, thereby propelling the growth of the microprocessor market.

Apart from this, the expanding consumer electronics sector has enhanced the requirement for advanced microprocessors. As the demand for the Internet of Things (IoT) enabled and connected devices rises, the use of microprocessors in various consumer electronic products also surges, thereby favoring the market. Microprocessors improve the functioning and performance of these devices by accelerating efficiency and speed, while providing seamless functioning. Additionally, significant investments in research and development (R&D) and frequent mergers and acquisitions among key players and manufacturers are acting as other growth-inducing factors. Due to such initiatives, microprocessors have become increasingly efficient, powerful, and affordable, allowing the introduction of innovative devices with enhanced capabilities.

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However, factors, such as the high cost of manufacturing microprocessor integrated circuits, growing sales of low-priced mobile devices, rising circuit design and raw material costs, and declining shipment of individual computers, are anticipated to hinder the microprocessor market growth. Besides this, high capital intensity, dominance of vertically integrated competitors, natural disasters, sudden spikes in demand, and specialized expertise are acting as other challenges affecting the market growth. Even though steps are being taken in the private sector to improve supply chain resilience, including flourishing investments by chipmakers in at-scale manufacturing facilities and fostering partnerships, mergers, joint ventures, and collaborations, the inherent barrier to entry strikes a significant restraint for the global microprocessor market.

Spread through 245 pages, the "Global Microprocessor Market" report includes an in-depth TOC, over 204 market data figures, the latest market developments, key drivers and opportunities, and a thorough study of major company profiles. Moreover, the report offers strategic recommendations, pricing analysis, market share analysis, and value chain analysis in detail.

Key Takeaways:

• The microprocessor market is flourishing due to the surging demand for high-performance computing, with various sectors relying on advanced processors.
• The automotive industry is a major catalyst for market expansion, with electric vehicles and autonomous driving features necessitating robust microprocessors.
• Diverse sectors, including data centers, AI, gaming, and edge computing, fuel the demand for advanced microprocessors to meet the increasing need for enhanced computational power.
• Continuous technological advancements in energy efficiency and semiconductor technology are key factors contributing to market growth.

Microprocessor Market is Segmented into the Following Categories: 

By Architecture: Application Specific Integrated Circuit Processor (ASIC), Complex Instruction Set Computer (CISC), Reduced Instruction Set Computer (RISC), Digital Signal Processor (DSP), Superscalar Microprocessor, Others

By Industry: Consumer Electronics, Networking and Communication, Automotive and Transportation, Industrial, Medical Systems, Aerospace and Defense, Others

By Region: North America, Europe, Asia-Pacific, South America, Middle East and Africa

Based on architecture, ASICs are becoming more prevalent in the microprocessor market because they are custom designed for specific functions, providing increased efficiency, reduced power consumption, and enhanced performance for specialized tasks. ASICs are commonly applied in the electronics, automotive, aerospace, telecommunications, and consumer electronics industries, where custom-designed integrated circuits are required. Apart from this, the increasing demand for highly specialized, tailored electronic solutions is positively impacting the segment’s growth. Moreover, significant technological advancements in semiconductor manufacturing processes and designs are supporting the ASICs’ growth within the global microprocessor market.

Based on industry, the consumer electronics sector is at the forefront of the microprocessor market, fueling the need for advanced chips in products like smartphones, tablets, and smart devices. This demand arises as consumers increasingly seek more powerful and feature-laden devices.

Apart from this, by region, North America leads the microprocessor market. This can be attributed to its thriving manufacturing ecosystem, increasing electronics demand, a prominent semiconductor industry, and the emergence of innovative technologies, which collectively propel market expansion and advancements. The market is also expected to benefit from increased usage of cloud-based applications, data centers, and advancements in artificial intelligence and machine learning technologies in the region.

Major Companies Operating in the Global Microprocessor Market Include:

• Broadcom Inc.
• GlobalFoundries Inc
• Intel Corporation
• NVIDIA Corporation
• Micron Technology Inc.
• Qualcomm Technologies, Inc.
• Samsung Electronics Co., Ltd
• Advanced Micro Devices Inc.
• Texas Instruments Inc.
• Semiconductor Manufacturing International Corporation

In the microprocessor market, manufacturers are dedicated to broadening their market presence and maintaining competitiveness. They achieve this by making significant investments in research and development, prioritizing cutting-edge technology, constantly refining their technical capabilities, and demonstrating an unwavering commitment to continuous product innovation.

In January 2023, Intel's 13th Gen Intel Core processors, exemplified by the laptop powerhouse Intel Core i9-13980HX with 24 cores, are tailored for laptops, desktops, IoT devices, and entry-level applications.

“Global Microprocessor Market Assessment, 2017-2031F”, evaluates the future growth potential of the global microprocessor market and provides statistics and information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make investment decisions for their organizations more strategically. Moreover, the report identifies and examines the emerging trends along with key drivers, challenges, and opportunities in the Global Microprocessor Market.

 

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