The demand for next generation processors is primarily driven by their extensive use in smartphones, automated systems, intelligent buildings, intelligent cars, and other applications. Industries are seeking energy-efficient ways of mega-tasking without generating much heat. The aim being addressing the consumer demand for automation. While these factors will bolster the deployment of next generation processors, the market is also expected to gain from the proliferation of the Internet-of-things (IoT). Besides this, next generation processors are also deployed in heating, ventilating, and air conditioning (HVAC) systems.
In addition, the rising demand from the consumer electronics segment is expected to be a chief market driver. Therefore in response to the proliferation of smart televisions and smartphones, growth witnessed in the global next generation processor market will stimulate. On the downside, the high cost of raw materials will hinder its trajectory to an extent. Existing issues of software integration will also create troubles for the market. Nevertheless, with the increasing research and development activities, these concerns are soon likely to get mitigated thus bolstering growth opportunities.
Transparency Market Research (TMR), forecasts the global next generation processor market to exhibit a CAGR of 17.6% between 2016 and 2024. At this pace, the market is expected to reach US$165.27 bn from a valuation of US$41.41 bn in 2015.
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Despite North America’s Dominance, Market to Witness Lucrative Prospects in Asia Pacific
Regionally, Asia Pacific, Europe, North America, South America, and the Middle East and Africa constitute the key segments in the global next generation processor market. Among these regions, North America held the largest share in the overall market as it is considered a hub of intelligent building and automotive industries. While Europe will continue holding a considerable market share, it is in Asia Pacific that next generation processor vendors will witness impressive prospects. The rising demand witnessed in China and Japan will aid expansion of the next generation processor market in Asia Pacific. Additionally, the demand for automated cars is significantly high in these countries, which will bolster opportunities for the next generation processor market.
Demand for Automation in Consumer Electronics to Boost Growth
By end use, the global next generation processors market can be segmented into consumer electronics, information and communication technology, manufacturing, automotive, and others. Of these, the consumer electronics segment emerged dominant in the overall market. Due to the rising demand for smart technologies among consumers, the demand for next generation processors in the consumer electronics segment is forecast to increase. However, in terms of revenue, the manufacturing industry is expected to report growth at the highest rate during the forecast period. In a bid to reduce quality-related faults and encourage smart manufacturing the application of next generation processor is expected to increase in the industry.
In terms of volume, the automotive segment will hold significant market share owing to the increasing demand for intelligent cars rises that use sensors and automotive braking systems. Spurred by these factors, the global next generation processors market is likely to report robust growth.
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Some of the leading players operating in the market are Intel Corporation (US), Advanced Micro Devices Inc. (U.S.), VIA Technologies Inc. (Taiwan), Fujitsu Ltd (Japan), and Acer Group (Taiwan) among others.