Microprocessor and GPU Market Expected to Reach USD 87.73 Billion by 2024 with CAGR of 2.63% by Forecast 2024
Microprocessors and graphic processing units (GPU) are electronic components required for high computing. Advances in television sets and desire of consumers for viewing realistic content can induce their need in consumer electronic products. The global microprocessor and GPU market report by Market Research Future (MRFR) assesses the size, revenue earnings, and growth in the present to project predictions for the period of 2019 to 2024 (forecast period). The COVID-19 pandemic and its implications act as a catalyst and explored in the market in complete detail.
Market Scope
The global microprocessor and GPU market is expected to reach USD 87.73 billion by the end of the forecast period by registering a CAGR of 2.63%. It was valued at USD 75.46 billion in 2018. Rising number of IoT applications and investments in hardware for producing accurate results can drive the market demand significantly. The need for powerful components in healthcare, automotive, telecommunication, and consumer sectors as well as emergence of 5G and edge computing can bode well for the market. Edge computing offers an advantage to network operators by providing valuable insights.
The GPU market can expand owing to the production of smartphones, tablets and consoles for supporting high-resolution graphics. Rapid growth of the gaming and entertainment sector can boost the demand for GPUs. The use of processors for supporting photorealistic images and animations can drive the demand for desktop PCs and laptops. Transition to fully autonomous vehicles can require the assistance of microprocessors for controlling steering, braking, and acceleration. This can be a prime opportunity for microprocessor and graphic card manufacturers.
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Competitive Outlook
Advanced Micro Devices, Inc., Nvidia Corporation, NXP Semiconductors, Qualcomm Technologies Incorporated, Samsung Electronics, IBM Corporation, Broadcom Limited, Texas Instruments Incorporated, Renesas Electronics Corporation, and Intel Corporation are key players of the global microprocessor and GPU market.
Segmentation
By architecture, the microprocessor market has been segmented into ARM, x86, MIPS, power, and SPARC. The x86 segment is expected to contribute a major share to the microprocessor and GPU market, while the ARM segment is expected to register a high growth rate. X86 is largely used in the consumer electronics sector.
By end-user, the microprocessor market has been segmented into aerospace & defense, healthcare, consumer electronics, automotive, and others. The consumer electronics segment is expected to contribute the largest share to the microprocessor market. This is attributed to applications in television sets, set-top boxes, and wearables.
By type, the GPU market has been segmented into discrete graphics and integrated graphics. The discrete graphics segment is expected to dominate the GPU market during the forecast period. This can be attributed to the use of these cards in desktop PCs for a powerful gaming and viewing experience.
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Regional Analysis
Asia Pacific (APAC) is expected to hold the largest share of the global microprocessor and GPU market during the forecast period. The presence of semiconductor companies such as Rockchip, Samsung, Mediatek, Toshiba, Renesas, and Spreadtrum is one of the major factors accountable for the high share for Microprocessor and GPUs from this region. Furthermore, the high demand for consumer electronics and rapid adoption of IoT in healthcare and manufacturing in countries of China and Japan has led to the market’s growth.
Europe is expected to grow at a significant CAGR during the forecast period. This is due to the rapid development of autonomous vehicles in this region. Also, industrial automation is expected to play a very important role in the growth of the market.
TABLE OF CONTENTS:
1. Market Introduction
2. Research Methodology
3. Market Dynamics
4. Executive Summary
5. Market Factor Analysis
6. Microprocessor and GPU Market, By Segments
7. Competitive Analysis
Continued…
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