Saturday, March 2, 2024
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Microprocessor Market to Grow at 4.16% CAGR Until 2026: TechSci Research

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The popularity of social networking platforms, growth in demand from the semiconductor market, and rise in demand for portable devices to drive the growth of the global microprocessor market through 2026.

According to TechSci Research report, “Global Microprocessor Market By Type (Desktop Microprocessor, Mobile Microprocessor, Performance Microprocessor), By Architecture (X86, ARM, SPARC, Others (MIPS, Power, etc.)), By Technology Outlook (CISC, RISC, ASIC, Superscalar, DSP), By End User (Consumer Electronics, Automotive, Manufacturing, Server & Data Center, Medical, Others (BFSI, Aerospace & Defense, etc.)), By Region, Competition, Forecast & Opportunities, 2026”, the global microprocessor market was valued at USD85.02 billion in 2020 and is projected to grow at a CAGR of around 4.16% during the forecast period, owing to the popularity of social networking platforms, growing adoption of digital distribution, high demand from IoT sector, rising demand for portable devices, and increasing demand in the healthcare sector due to the COVID-19 pandemic. Additionally, growth in demand from the semiconductor market and requirement in household appliances and automobiles is also expected to drive the market. To meet the growing technological demands across the globe, microprocessors prove to be a boon for all sectors. However, instability in the prices of GPU and high production cost is likely to hamper the market growth during the forecast period. Additionally, the installation and implementation of overheads can further restrict the growth of the market.

The global microprocessor market is segmented based on type, technology outlook, architecture, end user, region, and company. Based on region, the market can be fragmented into Asia Pacific, Europe, North America, South America, and Middle East & Africa. Asia Pacific contributes the highest share of 35.81% in the market and is expected to grow at a significant pace on account of its high technological investments, new user engagement and also because of high consumer demands.

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