PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629246
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629246
The Multi-Core Processors Market was valued at USD 92,514.5 million in 2023 and expanded at a CAGR of 11.20% from 2024 to 2032.
Multicore processors, also known as multi-core processors, are central processing units (CPUs) that house numerous independent processing units, or cores, on a single integrated circuit (IC) chip. Each core is a distinct CPU that can execute instructions and do activities on its own. Multicore CPUs offer parallel computing by distributing tasks over numerous cores. Each core can execute instructions concurrently, increasing overall processing capacity and enhancing performance for parallelizable workloads.
Multi-Core Processors Market- Market Dynamics
Rising demand for smartphones increases the need for multi-core processors.
The increased demand for smartphones is likely to drive the multi-core processor market forward. A smartphone is a handheld electronic device that provides a link to a cellular network and the internet. Smartphones with multi-core processors are better at processing and executing tasks, and they can run more and heavier programs concurrently. For instance, according to a Pew Research Center survey from April 2021, 6 in 10 Americans own a smartphone (64%), and 2 in 10 Americans currently access the Internet primarily via mobile devices. According to the survey, 17% of American smartphone owners have used their phones to report a neighborhood concern (such as a pothole or a missing street sign) to local authorities. As a result, rising smartphone demand propels the multi-core processor market forward.
Multi-Core Processors Market- Key Insights
Our research analyst estimates that the global market will develop at a CAGR of approximately 11.20% from 2024 to 2032.
The Dual-core processors segment is predicted to expand at a substantial revenue CAGR, according to Type segmentation.
In 2023, the Consumer electronics segment dominated the market based on end-use segmentation.
On the basis of region, North America was the leading revenue generator in 2023
The Global Multi-Core Processors Market is segmented on the basis of Type, Classification, End-use, and Region.
The market is divided into four categories based on the Type: Dual-core processors, hexa-core processors, quad-core processors, and octa-core processors. Dual-core processors are the dominating segment in the market. Dual-core processors, which feature two cores, have traditionally been used for simple computational tasks. They provide adequate performance for common tasks like web browsing, modest gaming, and office programs. However, as software applications become more complicated, the demand for dual-core processors is likely to increase at a moderate rate. These CPUs are generally utilised in entry-level devices where cost efficiency is critical.
The market is divided into seven categories based on End-use: Computers, Consumer electronics, Medical devices, Automotive, Telecommunications equipment, Energy, and Industrial automation. Consumer electronics is one of the most important application sectors, driven by the growing need for high-performance gadgets such as smartphones, tablets, laptops, and gaming consoles. As consumers demand gadgets with increased speed, efficiency, and multitasking capabilities, the use of multicore processors in these devices is becoming more common. The fast evolution of consumer electronics, together with the growing popularity of smart home devices, is likely to fuel market expansion in this segment.
Multi-Core Processors Market- Geographical Insights
Geographically, this market is distributed over Asia Pacific, North America, Latin America, the Middle East, and Africa, Europe. These regions are further split based on the nations bringing commerce. North America dominates the multicore processors market, owing to the early adoption of sophisticated technologies and the presence of major industry players. The region's strong technological infrastructure and considerable investment in R&D activities help drive market expansion. In 2023, North America held a sizable market share, and this trend is likely to continue during the forecast period. The growing demand for high-performance computing solutions in industries such as IT, telecommunications, and automotive is a primary driver of the market in this area.
Asia Pacific is expected to have the highest CAGR during the projection period, led by fast industrialisation, a burgeoning consumer electronics industry, and increased expenditures in the automotive and telecommunications sectors. Countries such as China, India, and Japan are at the forefront of technological breakthroughs, creating a favourable atmosphere for the expansion of the multicore processors market. Rising disposable incomes and urbanisation in these countries drive up demand for consumer electronics, further boosting market expansion. Furthermore, the region's concentration on smart manufacturing and Industry 4.0 programs encourages the use of multi-core CPUs in industrial applications.
Major competitors in the multi-core processor industry, such as Advanced Micro Devices, NXP Semiconductors, Broadcom Ltd, Intel Corporation, and others, are seeking to increase market demand by investing in research and development. Market participants are also engaging in a variety of strategic measures to broaden their footprint, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other companies. To expand and survive in a more competitive and increasing market, the multi-core processors business must provide cost-effective products.
In September 2022, Samsung announced the Galaxy Tab Active4 Pro Tablet for industrial application. The tablet is equipped with a Qualcomm Snapdragon 778G processor clocked at 2.4 GHz and an Octa Core with Adreno 642L GPU for great performance. There are two memory options (64GB and 128GB) and a big battery capacity of 7600 mAh. One of the device's distinguishing qualities is that it allows field workers to use it while wearing gloves or with wet hands. The device has been military-grade certified and is sleek and lightweight.