Microprocessor Market Size By Technology (Complex Instruction Set Computer (CISC), Reduced Instruction Set Computer (RISC), Application-specific Integrated Circuit (ASIC)), Superscalar, Digital Signal Processor (DSP)), By Application (Automotive & Transportation, Consumer Electronics & Home Appliances, Industrial, Medical & Healthcare, Aerospace & Defense, IT & Telecom), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032
Microprocessor Market is slated to demonstrate massive growth during 2023–2032 owing to the rising expenditure on defense by countries such as Israel, the U.S., China, Russia, and France. These countries have been focusing on delivering budgets for the research and development of military robots, microelectronics, aircraft, UAVs, drones, etc. Besides, the allocation of defense contracts to several regional companies is further slated to spur the adoption of microprocessors worldwide.
Rising penetration of smart factories across developed countries such as South Korea, China, the U.S., Germany, and Japan will also be a key factor driving the market expansion. These smart factories are slated to be deployed with programmable controllers, industrial robotics, and automation equipment that require microprocessors for process control operations. Such factors are expected to spur market growth by 2032.
The design complexities linked with microprocessors is expected to hamper the market progression as microprocessors need a larger foothold than advanced chipsets. However, the rising demand for custom microprocessors that suppliers are offering to fulfill certain requirements for specialized components is slated to positively impact the market growth.
Overall, the microprocessor market has been bifurcated in terms of technology, application, and regional perspective.
Based on technology, the reduced instruction set computer (RISC) segment is expected to hold over USD 55 billion market share by 2032 end. The growth can be attributed to its ability to maintain the instruction size regardless of the microcode layer or the related overhead. Further advancements in scaling and lower IC prices are expected to spur the demand for the RISC-based processor segment through 2032.
Considering the application, the aerospace and defense sector registered over 4% CAGR in 2022 and is expected to grow considerably through 2032. Microprocessors are crucial for controlling and performing several necessary processes for flight data monitoring system in the aerospace and defense industries. These systems can also read the conditioned sensor data and aircraft bus data in the proper order. All these factors are slated to drive the segment expansion in near future.
Regionally, the North America microprocessor market is poised to witness positive expansion from 2023 to 2032. The large income share will be credited to the growing market for high-end healthcare equipment in the U.S. In addition, key players present in the region have been engaged in developing software platforms to track information about COVID-19 medicine and vaccination updates in hospitals and clinics, which is predicted to push market penetration in the region further.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook