Microprocessor Market to Undertake Strapping Growth During the Forecast Period 2022-2028
Global microprocessor market size is predicted to surpass USD 90 billion by 2028. The role of microprocessors has grown to a great extent in recent years. Earlier, these chips were used only in computers to improve their data processing speed and elevate their logical and arithmetical capabilities. However, end-users of other sectors, through their intense research, have found incredible uses of these chips in their products, such as cars, smartphones, and household appliances.
Several technological advancements are being introduced in microprocessor chips to optimize their performance and efficiency. For example, manufacturers are preparing mobile variants of the conventional desktop CPUs to help customers complete their daily crucial tasks on time, without worrying about power cuts.
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Demand for digital signal processors rises:
Digital signal processors (DSPs) held more than 10% of global microprocessor market share in 2021 due to the ability of these processors to greatly increase the value of hearing protection. A DSP can reduce noise without interfering with the speech signal, a feature that is being highly integrated into audio/video devices, such as noise cancelling headphones.
Companies that are engaged in the production of DSPs are signing partnership deals to expand their product offerings. For instance, in March 2022, CAES announced its partnership with Trident Systems to promote innovative digital signal processing and radiofrequency technologies which will be used for air, sea, space, and land defense. These initiatives will fuel the integration of DSPs in numerous machines.
Industrial automation picks up pace:
With the use of advanced technologies, such as AI and robotics, industrial automation has come a long way. Several organizations are trying to decrease their cost of production and labor, which has boosted the demand for microprocessors to automate different processes, thereby shortening the average time required to complete a production cycle.
The COVID-19 pandemic increased the use of industrial automation as manufacturers were compelled to develop microprocessors that could enable production plant owners to remotely monitor their processes. With the help of these chips, the entire production workforce can use cyber-secure tools and software to help them get real-time control and visibility of the current status of their operations. Since remote working has become the new normal in the manufacturing sector as well, the use of microprocessor market has shot up.
Role of microprocessors in cars:
Many luxury carmakers are using innovative microprocessors to help them achieve their vehicle emission and fuel consumption targets. Microprocessor-driven machines like engine control units (ECUs) are widely used in cars to efficiently manage their emission level and fuel usage, thereby ensuring that the vehicles have the best mileage. These chips can diagnose the health of the engine and other parts to let the driver know beforehand if there are any defects in the same.
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Microprocessor market have significantly reduced the amount of wiring in vehicles as most of the functions are fully automated. This aspect has added to the convenience and comfort of manufacturers and drivers as they do not have to deal with complicated wiring systems. Global microprocessor industry value will show consistent increment over the coming years due to the strong demand for these chips in numerous sectors and the technological innovations introduced to improve their performance and efficiency.
Arm Limited, Analog Devices, Inc., Intel Corporation, Broadcom, Texas Instruments Incorporated, STMicroelectronics, Samsung, Qualcomm, and Marvell, among many others, are the main microprocessor manufacturing companies. The organizations are introducing RISC, ASIC, CISC, DSP, and Superscalar technologies in these chips, which are being majorly used in consumer electronics & home appliances, automotive, transportation, healthcare, industrial, IT & telecom, and aerospace & defense sectors.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Scope & definition
1.2 Methodology & forecast
1.3 Impact of COVID-19, by region
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 MEA
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
Chapter 2 Executive Summary
2.1 Microprocessor market 3600 synopsis, 2017 - 2028
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Technology trends
2.1.4 Application trends
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