The Smartphone Processor Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smartphone Processor Global Market Report 2024, The smartphone processor market size has grown rapidly in recent years. It will grow from $20.47 billion in 2023 to $23.7 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth in the historic period can be attributed to rapid growth in smartphone adoption, emergence of multifunctional smartphones, mobile computing and Internet usage, demand for high-quality mobile gaming, evolution of camera and imaging technologies.
The smartphone processor market size is expected to see rapid growth in the next few years. It will grow to $43.98 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to 5G network expansion, rise in AI integration, increased emphasis on energy efficiency, advancements in mobile photography, expanding role in Internet of things (IoT). Major trends in the forecast period include integration of neural processing units (NPUs) for AI tasks, shift towards more advanced semiconductor manufacturing processes, enhancements in security features, increased focus on quantum computing research, collaborations with software developers for optimization.
The growing adoption of smartphones around the globe is expected to contribute to the growth of the smartphone processor market in the forecast period. Smartphone adoption has grown more quickly among younger generations across the globe. According to the India Cellular and Electronics Association (ICEA), the number of smartphone users in India is projected to reach 839 million by the end of 2022. Moreover, as per a report published by The Pew Research Center, in April 2021, the majority of Americans (97%) own a cell phone of some kind with 85% of Americans owning a smartphone. In all the countries, smartphone use was high among younger people, those with higher grades of education, and higher incomes. Therefore, the increase in the number of smartphone users will anticipated the growth of the smartphone processor market.
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The smartphone processor market covered in this report is segmented –
1) By Core Type: Dual Core, Quad Core, Hexa Core, Octa Core, Other Core Types
2) By Technology: System-on-chip, System-in-package, Multi-chip Module, Other Technologies
3) By Operating System: Android, iOS, Other Operating Systems
Major companies operating in the smartphone processor market are focused on developing technological products, such as 13th Gen Intel Core mobile processors, including the flagship Intel Core i9-13980HX, to meet the needs of users who require high-performance capabilities on the go. 13th Gen Intel Core mobile processors, including the flagship Intel Core i9-13980HX, which is being marketed as the world’s fastest mobile processor. For instance, in January 2023, Intel Corporation., a US-based semiconductor corporation, launched its 13th Gen Intel Core mobile processors, including the flagship Intel Core i9-13980HX, which is being marketed as the “world’s fastest mobile processor.” The processor features eight performance cores, 16 efficient cores, and 32 threads, along with support for up to 128GB of RAM. It boasts a turbo frequency of up to 5.6 GHz, which is the highest clock speed available for the laptop market, offering 11% faster single-thread performance and 49% faster multitask performance over the previous generation.
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