Microprocessor Market Revenue to Exceed $90 Billion by 2028:
Selbyville, Delaware, March 22, 2022 (GLOBE NEWSWIRE) —
the microprocessor market size is expected to register a valuation of 90 billion USD by 2028, according to the most recent study by Global Market Insights Inc. . Market growth is driven by increasing penetration of smart factories in developed economies such as South Korea, China, US, Germany, and Japan. For example, in November 2020, the South Korean government announced the construction of more than 1,000 smart factories in the country with 5G and AI capabilities by 2025. These smart factories will be integrated with industrial robotics, programmable controllers and automation equipment that requires microprocessors for the process. control operations. Such large scale deployments of smart factories will fuel the expansion of the market over the forecast period.
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The digital signal processor (DSP) segment captured 10% of the microprocessor market share in 2021, driven by the growing demand for DSP processors for audio/video (A/V) processing applications in industrial and automobiles. These processors perform real-time A/V processing on industrial PCs, programmable logic controllers, and human-machine interface. Market leaders are focusing heavily on developing technically advanced DSP processors to stay competitive in the industry.
The IT and telecom applications segment in the microprocessor market, valued at USD 10 billion in 2021, is expected to experience a growth rate of 4% through 2028. This growth is attributed to the proliferation of 5G communication infrastructure across the world. In January 2022, China’s Ministry of Industry and Information Technology announced that the country had deployed more than 1.43 million 5G base stations by December 2021. These 5G base stations are equipped with servers, modems, routers and gateway devices that require microprocessors for data processing applications. The increasing deployment of 5G base stations will support the growth of the industry over the forecast period.
Europe Microprocessor Market is poised to grow at a CAGR of over 3.5% between 2022 and 2028 owing to the presence of major automotive manufacturers in the region including Daimler, BMW Group, Volkswagen, Audi, and Volvo Group . These automakers are emphasizing the development of electric vehicles (EVs) and self-driving cars. This will drive the adoption of automotive-grade microprocessors in the region. According to the International Energy Agency, Europe introduced more than 1.4 million units of newly registered electric vehicles in 2020, around 46% of the total electric vehicles registered worldwide. The massive acceptance of electric vehicles in Germany, France and the UK will further boost regional growth.
Some of the major players operating in the market are Analog Devices, Inc., Arm Limited, Broadcom, Intel Corporation, Marvell, Microchip Technology, Inc., Qualcomm, Samsung, STMicroelectronics, and Texas Instruments Incorporated. Major participants are involved in developing and launching new products to stay competitive in the market.
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Some of the key findings of the Microprocessor Market report include:
- The increasing use of CISC-based microprocessors in gaming hardware will influence market demand. Gaming hardware, such as consoles, digital PCs, and VR/AR devices, are heavily integrated with CISC-based microprocessors due to their capabilities for running complex programs.
- The proliferation of smart home technology products in the United States will drive the growth of the consumer electronics and household appliances segment. Smart home devices, including robotic vacuum cleaners, smart speakers, and smart door lock systems, are embedded with microprocessors to realize real-time data processing in devices.
- Several tech giants, including Arm Limited, Intel Corporation, and Qualcomm, are developing advanced processors based on the RISC-V architecture. Technological Advancements in RISC-Based Microprocessors Will Accelerate Market Advancement
- The COVID-19 pandemic severely affected the microprocessor market during the first half of 2020. In early 2020, various automotive and consumer electronics OEMs temporarily shut down their manufacturing and assembly facilities. This factor had a negative impact on the industry for a short time. However, the growing trend of working from home in the IT services industry has increased the adoption of various computing devices such as tablets, laptops, and desktops/PCs during the pandemic. This acceptance has, in turn, reduced the impact of the COVID-19 pandemic on the expansion of the industry.
- The North America microprocessor market is witnessing a high revenue share due to increasing military and defense investments in the United States and Canada. The presence of major defense contractors, such as Raytheon Technologies, Lockheed Martin, Boeing, and Northrop Grumman, in the region will support the adoption of military-grade microprocessors in the market.
- Favorable government initiatives and funding programs to support the manufacturing of consumer electronics and medical devices in India, China, and South Korea will drive the demand from the APAC industry.
Table of contents (ToC) of the report:
Chapter 3 Microprocessor Market Overview
3.1 Industry Segmentation
3.2 Corona Virus (COVID-19) Pandemic Market Impact Analysis
3.2.1 Global outlook
3.2.3 Industry value chain
184.108.40.206 Research and development
3.2.4 Competitive landscape
220.127.116.11 Distribution network
18.104.22.168 Business growth
3.3 Industry Ecosystem Analysis
3.3.1 Supplier of raw materials and components
3.3.3 Distribution channel
3.3.5 Supplier matrix
3.4 Technology and innovation landscape
3.4.1 Evolution of microprocessors
3.4.2 RISC-V (SiFive, Inc.)
3.4.3 Ryzen processors (AMD)
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Drivers of growth
3.6.2 Industry Pitfalls and Challenges
3.7 Analysis of growth potential
3.8 Porter’s analysis
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.