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High demand for application processors for smartphone applications driving growth of market
The application processor market is expected to grow at a CAGR of 5.63% from 2018 to 2023, to reach USD 38.2 billion by 2023 from USD 29.0 billion in 2018. High demand for application processors for use in smartphones is one of the major factors fueling the growth of this market. However, intense market competition and short life cycles of consumer electronic products are the main challenging factors companies operating in this market face.
Application processor market for automotive industry to witness significant growth during forecast period
The application processor market for the automotive industry is expected to witness significant growth during the forecast period. Increasing demand for automotive ADAS is one of the key factors responsible for the growing requirement for application processors in the automotive industry. The rise in demand for ADAS can be attributed to the increasing consumer demand for safe, efficient, and convenient driving experience. Besides, various governments are introducing mandates and regulations for increasing safety features in vehicles with an intention of curbing road accidents.
Application processor market in APAC to witness significant growth during forecast period
Among all regions, the application processor market in APAC is expected to grow at the highest CAGR during the forecast period. China, India, and Vietnam are some of the major contributors to the growth of the market in APAC. High demand for application processors from the consumer electronics industry, especially smartphones, feature phones, and PC tablets, is fueling the growth of the market in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the application processor market.
Following is the breakup of the profiles of primary participants for the report.
- By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
- By Region: North America – 45%, Europe – 20%, APAC – 30%, and RoW – 5%
The report profiles key players in the application processor market and analyzes their market rankings. Players profiled in this report are Qualcomm (US), Apple (US), Samsung Electronics (South Korea), Xiaomi (China), MediaTek (Taiwan), HiSilicon Technologies (China), Spreadtrum Communications (China), NXP Semiconductors (Netherlands), Texas Instruments (US), NVIDIA (US), Toshiba (Japan), Renesas Electronics (Japan), Ingenic semiconductor (China), LG Electronics (US), Garmin (Switzerland), Fossil (US), Lenovo (China), OPPO Electronics (China), Embitel (India), and Nokia (Finland).
This report segments the application processor market by core type, device type, industry, and geography. The report also describes major drivers, challenges, and opportunities pertaining to this market, as well as includes value chain and market ranking analyses.
Reasons To Buy This Report
The report will help leaders/new entrants in the application processor market in the following ways:
- The report segments the application processor market comprehensively and provides the closest market size estimation for all subsegments across regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on key drivers, challenges, and opportunities pertaining to the application processor market.
- The report will help stakeholders understand their competitors better and gain insights to improve their position in the application processor market.
- The competitive landscape section describes the competitor ecosystem.