Application processor sales were valued at $ 26.2 billion in 2021, and it is predicted that they would increase by 6.6% annually to $ 27.93 billion in 2022. The market is expected to reach US$ 53 billion by 2032 as a result of smartphone use and technical advancements. Apple, Intel, Qualcomm, MediaTek, and Samsung LSI were the top five smartphone application processors in terms of revenue share in 2021.
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.
According to the report, “during the projected period, opportunities for growth in the Application Processor market are anticipated to arise from more 5G penetration and rising demand for consumer electronics items, the multifunctional utility of mobile phones, and increasing usage of artificial intelligence.”
Application Processor Market: Drivers and Challenges
There are many factors driving the market for application processor, from which one of the major factor is the high adoption of application processors in the industries like consumer electronics specifically in the 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 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 restraint for 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 personals 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.
Who are the Key Players in the Global Application Processor Market?
Some of the key players in the Application Processor market are
- 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, and
- HiSilicon Technologies among others.
Application Processor Market: Regional Overview
On the basis of geography, application processor market can be segmented into North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, and Middle East & Africa. Among various regions, North America application processor market is seen to be leading in terms of value with U.S. application processor being the most attractive market.
Also, the application processor market in Japan and Western Europe is expected to be growing at the fastest rates due to the presence of tier-1 manufacturers in the region and increase in the number of smartphone users enabled with mobile application processors in the region.
Key Segments Covered in the Application Processor Industry Survey
Application Processor Market by Device Type:
- Mobile Phones Application Processor
- PC Tablets Application Processor
- Smart Wearables Application Processor
- Automotive ADAS & Infotainment Systems Application Processor
Application Processor Market by Core Type:
- Single-core Application Processor
- Dual-core Application Processor
- Quad-core Application Processor
- Hexa-core Application Processor
- Octa-core Application Processor
Application Processor Market by Industry:
- Application Processor for Consumer Electronics
- Application Processor for Automotive
Application Processor by Region:
- North America Application Processor Market
- Europe Application Processor Market
- Asia-Pacific Application Processor Market
- Middle East & Africa Application Processor Market
- Latin America Application Processor Market
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