Microprocessor industry is expected to register 6.5% CAGR between 2023 and 2032 propelled by rising adoption of microprocessors in medical applications.
Selbyville, Delaware, Feb. 02, 2023 (GLOBE NEWSWIRE) — As per the report published by Global Market Insights Inc., the Global Microprocessor Market was estimated at USD 70 billion in 2022 and is expected to surpass a valuation of $140 billion by 2032, progressing at a CAGR of 6.5% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
The growing demand for high-performance AI-powered robotics across numerous industry verticals, including medical, agriculture, and logistics, is likely to fuel the market expansion. Rising demand for AI-based applications, which require a higher level of integration, faster production time, small form factor, and low power consumption, is expediting the microprocessor market adoption.
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Growing popularity of speech recognition tech to drive digital signal processor segment growth
The digital signal processor (DSP) technology type held a revenue share of over USD 5 billion in 2022, owing to the growing proliferation of audio and speech recognition tools. Digital signal processor chips and commonly embedded in modern consumer electronics products such as smartphones and laptops. These chips run speech recognition software for applications such as Apple’s Siri and Google’s Google Assistant. Through recent advancements DSPs have made a quick transition from military applications to today’s smartphones and other consumer electronics.
Key reasons for microprocessor market growth:
- Proliferation of industrial automation in Asian countries.
- Growing utilization of IoT technologies globally.
- Rapid development of autonomous cars in North America and Europe.
- Growing demand for smartphones and smart home devices globally.
Rising technological integration to foster automotive & transportation industry
The market for automotive & transportation is expected to grow at 8% CAGR through 2032, driven by the increasing penetration of electronic components in vehicles. Technological advancements in recent years have pushed many carmakers to integrate systems such as In-Vehicle Infotainment (IVI) system, head-up display units, instrument clusters, AI-based voice assistants, and telematics, in their vehicles, sharply driving the microprocessor industry demand in the sector. Moreover, with the rising use of parking assistance and ADAS, microprocessor applications are further diversifying in the field.
Shifting auto industry focus towards EVs in the Europe
Europe microprocessor market share accounted for 15% in 2022. The region is home to a number of the world’s leading automotive manufacturers, including Volvo Group, Audi, Volkswagen, Daimler, and BMW Group. Almost all of these autogrowthmakers are increasingly focusing on developing their own electric vehicle models and self-driving cars in response to the region’s tightening emission and traffic norms. This will augment the adoption of automotive-grade microprocessors in the region, which given the high acceptance rate of EVs in countries such as the UK, France, and Germany, notably stimulating the industry outlook.
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Production capacity expansion to shape the competitive overview for the market
Some of the leading companies operating in the microprocessor market are Samsung Group, Advanced Micro Devices, Inc., NXP Semiconductors, Analog Devices, Inc., Broadcom AG, Arm Limited, Marvell, Western Design Centre, Intel Corporation, Microchip Technology Inc., Qualcomm Technologies, Inc., Renesas Electronics Corporation, STMicroelectronics, Seiko Epson Corporation, and Texas Instruments Incorporated. Several companies are making strong investments towards capacity expansion efforts through the construction of new microprocessor factories.
Partial chapters of report table of contents (TOC):
Chapter 3 Microprocessor Market Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 outbreak
3.3 Impact of Russia-Ukraine conflict
3.4 Industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.8 Key initiative & news
3.9 Patent landscape
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape
4.2 Company market share
4.3 Competitive analysis of major players
4.4 Competitive analysis of market innovators
4.5 Competitive positioning matrix
4.6 Strategic outlook matrix
Chapter 5 Global Market, By Technology
5.1 Key trends, by technology
5.2 Complex Instruction Set Computer (CISC)
5.3 Reduced Instruction Set Computer (RISC)
5.4 Application Specific Integrated Circuit (ASIC)
5.6 Digital Signal Processor (DSP)
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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