The global application processor market garnered USD 26.2 Billion in 2021 and is likely to exhibit a Y-o-Y increase of 6.6% to be valued at USD 27.93 Billion in 2022. Owing to the adoption of smartphones and advancements in technology, the market is likely to expand to USD 53 Billion by 2032. Apple, Intel, Qualcomm, MediaTek, and Samsung LSI captured the top-five smartphone Application Processor revenue share rankings in 2021.
Higher 5G penetration and rising demand for consumer electronic products, the multifunctional utility of mobile phones, and increasing adoption of artificial intelligence are expected to create opportunities for Application Processor market growth over the forecast period.
| Attributes | Details |
|---|---|
| Global Application Processor Market CAGR (2022 to 2032) | 6.6% |
| Global Application Processor Market (2022) | USD 27.93Billion |
| Global Application Processor Market (2032) | USD 53 Billion |
| Global Application Processor Market Attraction | Technological advancements and favorable government policies are helping key manufacturers to gain new grounds across the globe |
An application processor is a system-on-chip processor which has been in the market to support applications in operating system environments. The application processor has components like a memory controller, graphics processing unit, and multimedia decoding units for the mobile environments and similarly other components for other environments.
Recently it has been observed that the mobile phone application processor combines both SoC and SiP technology where the main processor comprises an array of functions from CPU, GPU, static RAM, and analog interface blocks.
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Many factors are driving the market for application processors, and one of the major factors is the high adoption of application processors in the industries like consumer electronics specifically 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 increased the sales of mobile application processors which are a part of the 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 restraints in the 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 personnel 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.
Besides, the costs associated with mobile application processor development and operations will test the mobile apps market in the upcoming years. Mobile apps are designed to enable user activities with technological support. However, with the swelling demand for mobile apps, there has been an augmented need for administrative support, maintenance support, and infrastructure services, among others. These events incur a higher price than that involved in application development cost.
The North American region is likely to capture lion’s share in the application processor segment, backed by the bolstering demand for smart wearables and increasing penetration of tablets. Several tech giants are making hefty investments in developing fast and powerful processors to support all types of gadgets, exhibiting a positive elevation in the growth trajectory. Across the region, Apple led the tablet AP market with a 62 percent revenue share, followed by Intel with 12 percent and Qualcomm with 10 percent.
In March 2022, Apple announced M1 Ultra, the next giant leap for Apple silicon and the Mac. Which featured UltraFusion - Apple’s innovative packaging architecture that interconnects the die of two M1 Max chips to create a system on a chip (SoC) with unique levels of performance and capabilities - M1 Ultra delivers breathtaking computing power to the new Mac Studio while maintaining industry-leading performance per watt. The new SoC consists of 114 billion transistors, the most ever in a personal computer chip. According to Future Market Insights, the demand for application processors is likely to expand at a CAGR of 6% by 2032 end.
With the consistent advancement in smartphone technology and growing emphasis on powerful processors, the APAC region is witnessing immense growth in the current scenario which is prospective to continue in the future nearby. Prominent players like Qualcomm and Samsung are working together to enhance the user experience of using a smart gadget by offering next-generation processors.
For instance, Qualcomm’s Snapdragon 8 Gen 1 flagship, the mobile platform created a market in the first quarter of 2022. The performance in Q1 2022 will be propelled by design wins in the Samsung Galaxy S22 series and launches in the Chinese New Year. With the announcement of 5G network connectivity in India, major OEMs are offering advanced processors with their products. The APAC market for application processors is projected to reflect a CAGR of 6.5% throughout the forecast period, reveals Future Market Insights report.
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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.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.6% from 2022 to 2032 |
| Market Value in 2022 | USD 27.93 Billion |
| Market Value in 2032 | USD 53 Billion |
| Base Year for Estimation | 2021 |
| Historical Data Available For | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Device Type, Core type, Industry, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Russia, BENELUX, China, Japan, South Korea, GCC, South Africa, Turkey |
| Key Companies Profiled | 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; HiSilicon Technologies |
| Customization | Available Upon Request |
The global application processor market is estimated to grow at a CAGR of 6.6% from 2022 to 2032.
The Consumer Electronics Application Processor segment is likely to exhibit a 6.3% CAGR from 2022 to 2032.
The North American market is expected to be the most opportunistic, with an expected 6.0% CAGR from 2022 to 2032
| Market Size (2023) | USD 2.91 billion |
|---|---|
| Market Size (2033) | USD 12.14 billion |
| Market CAGR (2023 to 2033) | 15.3% |
| Market CAGR (From 2023 to 2033) | 18.3% |
|---|---|
| Market Size - 2023 | USD 3.007 billion |
| Market Size - 2033 | USD 34.349 billion |
| Estimated Year Market Value (2023) | USD 10.4 Billion |
|---|---|
| Projected Year Market Value (2033) | USD 30.5 Billion |
| CAGR (2023 to 2033) | 11.3% |
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