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Global Application Processor Market to Reach US$ 38.2 Billion by 2024, Fostered by Increasing Sales of Smartphones

According to the latest report by IMARC Group, titled “Application Processor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global application processor market size reached US$ 29.3 Billion in 2018. Application processors refer to the system on a chip (SoC) processors which are utilized for supporting the applications running on a mobile operating system. These processors may or may not be independent of other processors present in the mobile device. They offer a self-contained operating environment that assists in the delivery of all system capabilities. They are also required to support applications which may include graphics processing, along with memory and multimedia management. Several applications, with the help of these processors, can be easily run on various operating system environments, including iOS, Android, or Windows CE.

Global Application Processor Market Trends:

Owing to the rapid urbanization and increasing penetration of the Internet, smartphones and related devices have emerged as an integral part of the modern-day lifestyle. This, along with the increase in the number of tech-savvy consumers and rising disposable incomes, is one of the primary factors driving the mobile application processor market. Furthermore, the rising consumer expenditure capacity has resulted in an increased demand for variants with high-end graphics, which has propelled the sales of advanced application processors. Moreover, continuous technological advancements in the market, especially in the graphics processing unit (GPU), is another factor driving the growth of the market. For instance, Qualcomm, an American multinational semiconductor and telecommunications equipment company, is investing significantly to develop advanced processor variants to offer an efficiently connected, intelligent and interactive experience. As per the application processor market forecast, the market is expected to reach a value of US$ 38.2 Billion by 2024, expanding at a CAGR of 4.5% during 2019-2024.

Market Summary:

  • On the basis of the device type, the market has been divided into mobile phones, PC tablets and e-readers, smart wearables, and automotive advanced driver-assistance systems (ADAS) and infotainment devices.
  • Based on the core type, the market has been categorized into octa-, hexa-, quad-, dual- and single-core segments.
  • On the geographical front, the market has been segregated into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been studied with the detailed profiles of the application processor market competitors operating in the market. Some of these include Qualcomm Incorporated, Apple Inc., MediaTek Inc., Samsung Electronics, Xiaomi Corporation, HiSilicon Technologies Co. Ltd., Spreadtrum Communications, Inc., NXP Semiconductors N.V., Texas Instruments Incorporated, Nvidia Corporation, Toshiba Corporation, Renesas Electronics Corporation, Ingenic Semiconductor Co., Ltd., LG Electronics Inc., and Garmin Ltd.

 

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