The global smartphone processor market size is expected to grow from $14.95 billion in 2021 to $16.71 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smartphone processors market is expected to reach $26.34 billion in 2026 at a CAGR of 12.0%.
What is the Global Smartphone Processor Market?
The smartphone processor market consists of the sales of smartphone processors by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing smartphone processors. A smartphone processor is also known as a chipset, is a central hub of the smartphone and is directly responsible for the performance of the device. Only goods and services traded between entities or sold to end consumers are included.
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What drives the Global Smartphone Processor Market?
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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Global Smartphone Processor Market Segments
The global smartphone processor market is segmented:
By Core Type: Dual Core, Quad Core, Hexa Core, Octa Core, Others
By Operating System: Android, iOS, Others
By Application: Gaming, Photo and Video Editing, Camera
By Geography: The regions covered in the smartphone processor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Smartphone Processor Global Market Report 2022 provides market size and growth forecasts for the global smartphone processor market, global smartphone processor market share, smartphone processor market segments and geographies, smartphone processor market competitive landscape including leading competitors’ revenues, profiles and market shares. The smartphone processor market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Smartphone Processor Industry Playersinclude Qualcomm, NVIDIA Corporation, Apple Inc., Samsung Electronics, MediaTek, Huawei, Renesas Mobile Corporation, Xiaomi Corporation, Snapdragon, Spreadtrum Communications and Intel Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
