The application processors market generated USD 26.2 billion in 2021 and is anticipated to grow 6.6% year over year to reach USD 27.93 billion in 2022. Due to smartphone penetration and technological developments, the market is anticipated to reach USD 53 billion by 2032. Regarding revenue share, the top five smartphone application processors in 2021 were Apple, Intel, Qualcomm, MediaTek, and Samsung LSI.
The market for microprocessors created expressly to meet the computational demands of portable devices like smartphones, tablets, and wearables is referred to as the “application processor market.” In addition to offering excellent performance and processing speeds to meet the demands of contemporary mobile apps, these processors are built to be power-efficient.
The market is being driven by the expanding demand for smartphones and other mobile devices, the growing acceptance of Internet of Things (IoT) devices, and the rising popularity of sophisticated mobile apps.
Gain Comprehensive Knowledge—Read the Entire Report Now!
Application Processor Market: Drivers and Challenges:
There are many factors driving the market for application processors, and one of the major factors is the high adoption of application processors in industries like consumer electronics specifically in wearable devices, and also in other industries for its use in applications like automotive ADAS and the infotainment systems.
This has been the major driver for the application processor market and has led to the strong growth of the market. Also, the increase in penetration of smartphones has also increased the sales of mobile application processors which is a part of the application processor market. This has also been a driving factor for the application processor market and has led to the fast growth of the market.
Some of the restraints for the application processor market have been related to the development of application processors in the market. There have been problems regarding the development of the application processor which needs skilled personnel for its development.
This has been a restraining factor for the application processor market as the processors take time to reach the end user which slows down the process cycle of the application process market leading to slow growth.
Leading Key Players:
- Apple, Inc.
- Samsung Electronics
- Qualcomm
- MediaTek Inc.
- Intel Corporation
- Advanced Micro Devices, Inc.
- NXP Semiconductors
- NVIDIA Corporation
- Renesas Mobile Corporation
- Huawei Technologies Co. Ltd.
- Texas Instruments
- Broadcom Corporation
- Allwinner Technology
- HiSilicon Technologies among others
Application Processor Market: Regional Overview:
On the basis of geography, the application processor market can be segmented into North America, Latin America, Western Europe, Eastern Europe, China, SEA, and other APAC, Japan, and the Middle East & Africa. Among various regions, the North American application processor market is seen to be leading in value, with the U.S. application processor being the most attractive market.
Also, the application processor market in Japan and Western Europe is expected to grow at the fastest rate due to the presence of tier-1 manufacturers in the region and the increase in the number of smartphone users enabled with mobile application processors in the region.
Application Processor Market Segmentation:
By Device Type:
- Mobile Phone Application Processor
- PC Tablets Application Processor
- Smart Wearables Application Processor
- Automotive ADAS & Infotainment Systems Application Processor
By Core Type:
- Single-core Application Processor
- Dual-core Application Processor
- Quad-core Application Processor
- Hexa-core Application Processor
- Octa-core Application Processor
By Industry:
- Application Processor for Consumer Electronics
- Application Processor for Automotive
By Region:
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube