Microprocessor market expected to reach $126.91 billion by 2032, driven by growing demand and applications
From GlobeNewswire: 2024-12-14 08:00:00
The microprocessor market was valued at $62.67 billion in 2023, expected to reach $126.91 billion by 2032 with a growth rate of 8.20%. Key drivers include IoT, AI, and Industry 4.0, with companies like NVIDIA and AMD making strategic acquisitions to enhance capabilities. Smart home tech alone was valued at $140 billion in 2023.
The microprocessor market is advancing modern technology in various sectors, driving growth through high-performance computing, AI, and IoT. Industrial IoT applications and Industry 4.0 are increasing microprocessor use, while automotive technologies like autonomous vehicles rely heavily on advanced microprocessors for real-time data processing.
In the microprocessor market, the Reduced Instruction Set Computer segment dominated with over 42% market share in 2023. Meanwhile, the Complex Instruction Set Computer segment is the fastest-growing, with a CAGR of 10.24%. The industrial sector led applications with a 35% market share, while the automotive sector is the fastest-growing segment with a CAGR of 10.39%.
Asia Pacific leads the microprocessor market, with over 50% market share in 2023. Taiwan companies hold 62% market share, driven by electronics use in emerging economies like China and India. North America is the fastest-growing region at 20%, benefiting from digital tech adoption and demand for high-performance microprocessors, particularly from major players like Intel and AMD.
Recent developments include Intel and AMD teaming up to enhance the x86 processor architecture. STMicroelectronics launched the STM32MP25x microprocessor family for industrial AI and vision applications. This microprocessor family offers dual Cortex-A35 cores, a Cortex-M33 MCU, and a 1.35 TOPS Neural Processing Unit (NPU) for deep learning.
For more information on the microprocessor market, visit the SNS Insider website. They are a leading market research and consulting agency dominating the industry globally. Contact them for customized research or queries related to the microprocessor market. Our company provides clients with up-to-date market data, consumer insights, and opinions to make informed decisions in changing circumstances. We utilize surveys, video talks, and focus groups globally to gather accurate information for our clients.
Read more at GlobeNewswire: Microprocessor Market Size to Worth USD 126.91 Billion by