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Microprocessors Market 2024 - Share, Ongoing Trends, Size, Growth Rate And Key Players
Microprocessors Market
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According to The Business Research Company's, The microprocessors market size has grown steadily in recent years. It will grow from $77.74 billion in 2023 to $81.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to personal computers, data center expansion, mobile devices, gaming consoles, industrial and iot applications.
The microprocessors market size is expected to see steady growth in the next few years. It will grow to $93.03 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to artificial intelligence (ai) and machine learning, 5g and iot expansion, edge computing, autonomous vehicles, quantum computing. Major trends in the forecast period include multi-core processors, custom accelerators, energy-efficient processors, security enhancements, risc-v and open-source architectures.
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Market Drivers and Trends:
The smartphones and tablets market is rapidly increasing which is driving the microprocessors market. Along with, rise in disposable income, a result of the economic growth, in developed and developing economies also had a positive impact on the demand for mobile phones and tablets. For instance, in February 2023, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, 71.8 million mobile connections were active in 2022, which is an increase of 3.8% from 2021. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Additionally, all in one microprocessor brings smart phone major components together and increase its performance and efficiency, hence is driving the microprocessors market globally.
A rapid increase in energy consumption of microprocessors in wireless networks has been recognized as a major threat for environmental protection and sustainable development. Due to access to the high-speed internet provided by the next generation wireless networks and increased smartphone usage, the requirement for global access to data has risen sharply, triggering a dramatic expansion of network infrastructures and escalating energy demand. To meet these challenges green evolution has become an urgent priority for wireless network service providers and microprocessor manufacturing companies. Companies nowadays are investing in research and development for innovative and efficient microprocessors. Emergence of energy efficient and high-performance processors is trending in the microprocessor market. For instance, in September 2022, Intel launched the 13th Gen Intel Core processor family, which includes the 13th Gen Intel CoreTM i9-13900K, the fastest desktop CPU in the world. The new 13th Gen Intel Core family contains six new unlocked desktop processors with up to 24 cores and 32 threads with blistering clock rates up to 5.8 GHz for the finest gaming, streaming, and recording experience.
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Major Key Players of the Market:
MediaTek Inc., Toshiba Corporation, Intel Corporation, Qualcomm Incorporated, Samsung Semiconductor Inc., Broadcom Inc., Freescale Semiconductor Inc., Nvidia Corporation, Advanced Micro Devices Inc. (AMD), Spreadtrum Communications Inc., Texas Instruments Incorporated (TI), Apple Inc., International Business Machines Corporation (IBM), Atmel Corporation, Taiwan Semiconductor Manufacturing Company Limited (TSMC), Leadcore Technology Co. Ltd., Amlogic Inc., Nufront, Ingenic Semiconductor Co. Ltd., Advanced Micro Devices Inc., Marvell Technology Group Ltd., Renesas Electronics Corporation, Infineon Technologies AG, NXP Semiconductors N.V., STMicroelectronics N.V., Microchip Technology Inc., Analog Devices Inc., ON Semiconductor Corporation, Cypress Semiconductor Corporation, Xilinx Inc., Altera Corporation, Silicon Laboratories Inc., Cavium Inc., Integrated Device Technology Inc., LSI Corporation, Maxim Integrated Products Inc., PMC-Sierra Inc., Semtech Corporation, Synopsys Inc., Zilog Inc.
Microprocessors Market 2024 Key Insights:
• The microprocessors market size is expected to see steady growth in the next few years. It will grow to $93.03 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%.
• Explosive Growth In The Microprocessors Market Driven By Soaring Demand In The Smartphone And Tablet Industry
• Innovations In Microprocessors For Sustainable Wireless Networks
• Asia-Pacific was the largest region in the microprocessors market in 2023
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