Global Application Processor Market
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Global Application Processor Market size was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027 to exhibit a CAGR of XX % during the forecast period.
An application processor is a special kind of microprocessor. The application processor name came out of the cellular industry. In a mobile device, it refers to a chip used for the prime processing of cellular phone and other smart functions. This is in contrast with the chips that handle background functions such as running the display, handling wireless communications and managing power drain.
The difference between a microprocessor and an application processor is their physical packaging and working systems the two processors run. Many microprocessors are standard ICs with a standard part number. In difference, mobile application processors are more normally systems on a chip that include the IP of one or more processor cores along with other ancillary functions.There are a number of application processor providers. Among the most well-known are Nvidia with its five-core Tegra processor, Qualcomm with its Snapdragon, and Samsung with the Exynos line
The major driving factors of the global application Processor market are growing demand for application processors in the smartphone industry, high implementation of octa-core application processors and rising penetration of application processors in the automotive industry.
Though, powerful market competition and small life cycles of consumer electronic products are the key challenging factors for companies working in this market face. High demand for application processors for use in smartphones is one of the major factors fueling the growth of this market.
Opportunities in this market are increasing due to the rising implementation of artificial intelligence in mobile devices and the growing demand for connected communication devices in emerging countries. The octa-core application segment processors are projected to hold the largest share of the market during the forecast period due to the high implementation of these processors in mobile phones.
The extraordinary demand for application processors from the consumer electronics industry is one of the main factor driving the growth of the application processor market. Furthermore, these processors are also increasingly being used in the automotive manufacturing in automotive infotainment systems and ADAS systems; this factor is also anticipated to significantly increase the growth of the said market in the coming years.
The Asia Pacific is projected to hold the largest share of the application processor market during the forecast period because this region is also estimated to witness significant growth during 2018-2023. High adoption of application processors in China has run to the dominant market position of Asia Pacific due to the existence of industrial plants of a number of prominent consumer electronics companies
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Last Update : May 12, 2020
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