Microprocessor Market Expected to Register a CAGR of 4.36%
According to the research report published by Credible Markets, the global microprocessor market is currently valued at USD 128.74 billion and is projected to grow at a CAGR of 4.36% over the forecast duration of 2022-2030.
Microprocessor Market Overview
A microprocessor is an electronic component integrated on a single integrated circuit (IC) that contains millions of small components including diodes, transistors, and resistors that work together. This chip consists of various functions, such as synchronization functions, data storage and interaction. These integrated circuits are used in various electronic devices, such as servers, tablets, smartphones and integrated devices, among other integrated circuits. Microprocessors were originally designed for use in personal computers and servers. But now they are used in automotive applications to provide enhanced connectivity and high speed to vehicle systems.
Key Market Trends – Growth Drivers and Challenges
The growth of the microprocessor market is fueled by factors such as the increasing use of microprocessors in smartphones. The microprocessor improves the performance of the smartphone and is also used to improve the speed and efficiency of a smartphone. The performance speed of the smartphone is directly proportional to the performance of the microprocessor.
Moreover, the healthcare sector is also driving the growth of the market. Health expenditure is directly linked to the aging of the population, the increase in disposable income per capita and a better quality of life. Embedded microprocessors are used in a variety of healthcare electronic systems, improving quality of life and minimizing medical costs.
On the other hand, factors such as the high manufacturing cost of microprocessor ICs, the cost of circuit design, the growth in sales of low-cost mobile devices, the decline in personal computer shipments and the High commodity prices are expected to have a negative impact on market growth during the forecast year.
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Segmented analysis of the microprocessor market
Based on technology
The ASIC segment is expected to witness the fastest growth over the forecast period. The growth is due to the increasing adoption of integrated circuits in the consumer electronics industry. This is due to their reliable performance and other advantages, such as low electric power consumption, IP security, small size and higher bandwidth.
Based on demand
• Personal computer
The personal computer segment is expected to have the largest share of the application market. Manufacturers work with technology providers to deliver high-tech products to consumers. PCs also offer strong business opportunities for major market players and are supported by the increased use of microprocessor chip in personal computers across the world.
North America is expected to grow over the forecast period
North America, Europe, Asia-Pacific, Middle East and Africa are the major regions that make up the geographical landscape of the global microprocessor market. Among these, North America is expected to grow during the forecast period. The growth is due to the significant presence of leading players in the region. Currently, the United States dominates the market in North America. High development in consumer electronics, healthcare monitoring systems, as well as electric and hybrid vehicles are the major factors contributing to the growth of the market in the United States.
The major players influencing the competitive hierarchy of the market sphere are Advanced Micro Devices (AMD), Inc., Intel Corporation, Toshiba Electronic Devices and Storage Corporation, Texas Instruments Incorporated, Qualcomm technologies Inc., Taiwan Semiconductor Manufacturing Company Limited.
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• The market is highly competitive due to fixed costs, where high and marginal costs are low and manufacturers are under strong pressure to cut costs below the market average to attract customers while covering part of their expenses fixed.
Main questions answered by this report
• What is the growth rate of the microprocessor market?
• What are the main determinants of the growth of the microprocessor market?
• Which are the major regions constituting the geographical landscape of the microprocessor market?
• What are the main companies operating in the microprocessor market?
Main lessons of the report
• The microprocessor market is expected to register a CAGR of 4.36% over 2022-2030.
• The growing use of microprocessors in smartphones is contributing to the growth of the market.
• The personal computer (PC) segment is poised to grow significantly and occupies the largest share of the application segment.
• North America is expected to generate the largest revenues in the regional segment of the market.
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