Global Microprocessor and GPU Market to Reach $83.1 Billion by 2024

A microprocessor is a computer processor that incorporates various functions of a central processing unit (CPU) on a single integrated circuit (IC). Graphics processing unit (GPU) is a specialized electronic circuit intended to manipulate and modify memory to accelerate the image generation in a frame buffer designed for output to a display device. Microprocessor chipsets and GPUs, in various architecture formats including X86, ARM, MIPS, Power and SPARC, gained wider application relevancy in consumer electronics, servers, automotive systems, industrial equipment, aerospace & defense technologies, and medical equipment, among others. Modern microprocessors, functioning as the core components of computer systems, can seamlessly implement and execute logical instructions programmed in processing systems in a precise and efficient manner, in real-time. Amid the COVID-19 crisis, the global market for Microprocessor and GPU is projected to reach US$83.1 Billion by 2024, registering a compounded annual growth rate (CAGR) of 2.8% over the analysis period. United States represents the largest regional market for Microprocessor and GPU, accounting for an estimated 29.2% share of the global total. The market is projected to reach US$24.2 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 4.1% over the analysis period.

Growth in the global market is set to be driven by sustained demand in core end-use verticals. While consumer electronics have driven overall momentum, widespread use in servers, industrial equipment, and automotive technologies, paved way for growth and progress of the microprocessors and GPU market. At the same time, factor such as rise of `Cloud` computing and subsequent transition of data from on-premise to cloud-based servers, emergence of the Internet of Things (IoT) model, popularity of wearable devices such as smart watches, have boosted the market prospects. Further, technology improvements also contributed to market expansion in a major way. The US constitutes the largest consumer of microprocessor chipsets and GPU devices. Sustained growth in domestic electronics and electronics components industries, roll out of new and next generation electronic systems for autonomous vehicles, IoT environments, Industry 4.0 ecosystem, UAV and drone technologies, healthcare systems and server applications, would substantially boost the market prospects. Rise of China as the industrial manufacturing hub, supplying a range of consumer electronics products to global markets, strongly supports present and future expansion in the domestic microprocessor and GPU market, while pushing the country`s share in the world market.

By architecture type, the market for X86 Architecture is forecast to dominate market share. The x86 represents a popular Intel CPU architecture that came into existence with the 16-bit 8086 processor in the year 1978. Today, x86 is commonly used to denote 32-bit processors that comply with the x86 instruction set. The x86 architecture is extensively employed in computers (desktops and laptops) and servers, and established role of the architecture in these devices is poised to maintain uptrend in the x86 market segment.