PUBLISHER: Grand View Research | PRODUCT CODE: 1529650
PUBLISHER: Grand View Research | PRODUCT CODE: 1529650
The global microprocessor market size is projected to reach USD 196.50 billion by 2030, growing at a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Moreover, the global microprocessor market volume is projected to reach 3.90 billion units in 2030. In recent years, growing IT industries and increasing data centers have been observed continuously demanding cloud and web-based services. The shifting inclination towards cloud data storage is expected to result in growing demand for servers, further boosting the demand for microprocessors over the forecast years. Besides, there is a surging need to minimize the size of microprocessors due to the compact size of devices that enable improved processing, speed, and portability, resulting in the growth of the market across the globe.
Escalating demand for microprocessors in various applications such as 5G technology, smart cards, artificial intelligence (AI), and machine learning techniques is expected to be one of the key factors boosting the market growth. The aforementioned applications enable speedier transit of organizational data across the IT network and thus find extensive usage in public clouds, data center facilities, and connected devices. Most organizations are, therefore, incorporating ICs to support the functioning of advanced technologies in devices, resulting in lower operational costs.
Embedded devices application is driven by extensive usage of microprocessors. Based on the type of application, embedded microprocessors can use 8, 16, 32, and 64-bit processors. High-end processors find use in communications infrastructure equipment such as soft switches and firewalls, whereas usage of low-end processors lies in consumer electronics and industrial applications. Furthermore, economic betterment in Asia Pacific and consequent growth in market penetration of consumer electronics remain key contributors to regional as well as global growth.
Companies manufacturing microprocessors are investing in Research and Development (R&D) to provide new products to their customers. For instance, in March 2024, STMicroelectronics announced the launch of the STM32MP2 series, its second generation of industrial microprocessors, aimed at advancing smart factories, buildings, healthcare, and infrastructure. These MPUs will power next-generation equipment like industrial controllers, medical wearables, and smart appliances, supporting digital transformation through technologies such as cloud computing, AI, and IoT.