Home > Pressrelease > Microprocessor Market revenue to cross $140 Bn by 2032
Microprocessor Market revenue to cross $140 Bn by 2032
- Published Date: December 29, 2022
Microprocessor Market size is poised to reach USD 140 billion by 2032, according to a new research report by Global Market Insights Inc.
The growing demand for high-performance AI-powered robotics across numerous industry verticals, including medical, agriculture, and logistics, is likely to fuel the market growth. 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.
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.
Rising technological integration to foster automotive & transportation industry
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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 demand for microprocessors 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
The Europe microprocessor market accounted for 15% share 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 automakers 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.
Browse key industry insights spread across 820 pages with 2130 market data tables & 46 figures & charts from the report, “Microprocessor Market Size By Technology (Complex Instruction Set Computer (CISC), Reduced Instruction Set Computer (RISC), Application-specific Integrated Circuit (ASIC)), Superscalar, Digital Signal Processor (DSP)), By Application (Automotive & Transportation, Consumer Electronics & Home Appliances, Industrial, Medical & Healthcare, Aerospace & Defense, IT & Telecom), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Production capacity expansion to shape the competitive overview for the market
Some of the leading companies operating in the market for microprocessors 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.
For instance, in October 2022, South Korean tech giant, Samsung Electronics announced a novel investment to build a new production capacity and 1.4 nm Process by 2027. The company is aiming to mass produce 1.4nm process and expand its production capacity by over three times for advanced nodes.