Global Smartphone Application Processor (AP) Market Report to 2027 - Increasing Number of Smartphone Users, Rise in Consumer Spending & Mounting Penetration of Internet Users are Among Growth Factors
DUBLIN, Nov. 21, 2022 /PRNewswire/ -- The "Global Smartphone Application Processor (AP) Market: Analysis By Operating System (Android, iOS, and Others), By Application (Camera, Gaming, Photo and Video Editing, and Others), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The global smartphone application processor market in 2021 was valued at US$15.95 billion. The market is expected to reach US$29.14 billion by 2027.
A smartphone application processor is a system that contains a chip which assists the smartphones operating system. The performance of the smartphone is at the optimal level with the use of an application processor. Smartphone experience of the customers is increasing due to the use of advanced processors.
Technological advancements make processors better for smartphones. The key players are launching premium processors that come with high-end features such as the launch of the Octa-core processor. Therefore, technological advancements and rapid innovations are expected to expand the demand for smartphone application processors in the forthcoming years. The market is expected to grow at a CAGR of approx. 10.6% during the forecasted period of 2022-2027.
Market Segmentation Analysis:
In Asia Pacific, China held almost 52% share in the market owing to the rise in spending, consistent advancement in smartphone technology and growing emphasis on powerful processors. Whereas, in Europe, Germany is expected to be the fastest growing region in the forecasted period.
In 2020, the outbreak of COVID-19 weakened the demand of smartphones due to halted production activities, and as people started budgeting and shopped less during the pandemic phase. This decline in smartphone production directly affected the demand of application processors as a smartphone processor is a central hub of the smartphone and is directly responsible for the performance of the device. However, after the relaxation of the lockdown, the industry responded positively to the crisis. The technological innovations have also helped smartphone application processor retailers to align with safety regulations in stores.
Key Topics Covered:
1. Executive Summary
For more information about this report visit https://www.researchandmarkets.com/r/ijz4hv
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