Smartphone Processor Global Market Report 2024

The smartphone processor market size has grown rapidly in recent years. It will grow from $20.47 billion in 2023 to $23.7 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth observed in the historic period can be traced back to several key factors. These include the rapid surge in smartphone adoption, the emergence and popularity of multifunctional smartphones, increased utilization of mobile computing and internet services, a growing demand for high-quality mobile gaming experiences, and the continuous evolution and advancements in camera and imaging technologies. Each of these factors played a significant role in driving the growth observed during that period in the mobile technology industry.

The smartphone processor market size is expected to see rapid growth in the next few years. It will grow to $43.98 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. Anticipated growth in the forecast period is expected to stem from several key factors. These include the expansion of 5G networks, the increased integration of AI (Artificial Intelligence), a heightened focus on energy efficiency, advancements in mobile photography technologies, and the expanding role of mobile technology within the Internet of Things (IoT) landscape. Furthermore, major trends projected for this period encompass the integration of Neural Processing Units (NPUs) for AI tasks, a shift towards more advanced semiconductor manufacturing processes, enhancements in security features, an increased focus on research in quantum computing, and collaborative efforts between hardware manufacturers and software developers for optimization purposes. These trends are poised to drive innovation and contribute to the growth of the mobile technology sector in the forecast period.

The escalating adoption of smartphones globally is poised to contribute to the expansion of the smartphone processor market in the projected period. Particularly among younger demographics worldwide, smartphone usage has surged. As per the India Cellular and Electronics Association (ICEA), India's smartphone user base is forecasted to hit 839 million by the end of 2022. Additionally, according to The Pew Research Center's April 2021 report, a staggering 97% of Americans own a cell phone, with 85% owning smartphones. Notably, higher smartphone adoption rates are observed among younger individuals, those with advanced education, and higher incomes. The proliferation of smartphone users is anticipated to drive growth in the smartphone processor market.

The proliferation of mobile gaming is forecasted to catalyze growth within the smartphone processor market. This surge involves playing video games on mobile devices, necessitating optimized processors to enhance processing power, graphics, and overall performance. Reports from GamesIndustry.biz in December 2023 anticipate a 4% year-on-year revenue climb to $111.4 billion in 2024, marking a substantial 40% growth. Hence, the rise in mobile gaming acts as a driving force behind the expansion of the smartphone processor market.

Technological advancements mark a pivotal trend in the smartphone processor market, with major companies emphasizing cutting-edge solutions to elevate user experience and connectivity. MediaTek, a Taiwan-based semiconductor company, launched the Density 1200 chip in January 2021, utilizing TSMC’s 6-nanometer processor, ARM’s latest A78 core, and multiple A78 and A55 cores. Qualcomm, a US-based mobile communications company, introduced the Snapdragon series in India in January 2020, emphasizing enhanced connectivity, gaming, and entertainment through FastConnect 6-series subsystems.

Leading firms in the smartphone processor industry are directing efforts towards technological advancements, notably the development of high-performance processors such as the 13th Gen Intel Core mobile processors, including the flagship Intel Core i9-13980HX. Released in January 2023 by Intel Corporation, this processor is acclaimed as the fastest in the mobile category, featuring eight performance cores, 16 efficient cores, and 32 threads. Boasting up to 128GB RAM support and a turbo frequency of 5.6 GHz, it presents 11% faster single-thread performance and 49% quicker multitasking abilities compared to its predecessor, significantly enhancing mobile computing capabilities.

In January 2021, Qualcomm Incorporated, a US-based semiconductor company, successfully acquired NUVIA Inc. for $1.4 billion. The acquisition signifies Qualcomm's strategic focus on advancing high-performance computing and strengthening its position in the market. NUVIA Inc., renowned for designing high-performance smartphone processors, aligns with Qualcomm's objective to deliver superior performance and efficiency, positioning itself as a formidable competitor against industry giants such as Intel and AMD.

Major companies operating in the smartphone processor market report are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, ZTE Corporation, Huawei Technologies Co. Ltd., Sony Corporation, Lenovo Group Limited, Panasonic Corporation, LG Electronics Inc., Intel Corporation, Qualcomm Incorporated, Xiaomi Corporation, Broadcom Inc., Toshiba Corporation, Fujitsu Limited, Nvidia Corporation, NEC Corporation, Sharp Corporation, Texas Instruments Incorporated, MediaTek Inc., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics Corporation, Motorola Inc., Marvell Technology Group Ltd., Arm Limited, UNISOC Technologies Co. Ltd., Spreadtrum Communications, Vivo Communication Technology Co. Ltd., BBK Electronics Corporation.

North America was the largest region in the smartphone processor market in 2023. The regions covered in the smartphone processor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smartphone processor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Smartphone processors come in various configurations, from dual core to octa core, each housing multiple processors within a single integrated circuit. A dual core processor contains two processors with individual controllers and cache, functioning as a unified unit for efficient processing. Meanwhile, a quad core chip comprises four independent cores for executing CPU instructions seamlessly. Moving up, a hexa core processor boasts six cores, enhancing processing speed for managing diverse tasks effectively. Finally, an octa core processor, with its eight cores, handles more demanding and faster tasks efficiently. These processors leverage advanced technologies such as system-on-chip and system-in-package, powering devices across Android, iOS, and other platforms.

The smartphone processor market research report is one of a series of new reports that provides smartphone processor market statistics, including smartphone processor industry global market size, regional shares, competitors with a smartphone processor market share, detailed smartphone processor market segments, market trends and opportunities, and any further data you may need to thrive in the smartphone processor industry. This smartphone processor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.


The smartphone processor market consists of sales camera, Wi-Fi, screen, security, graphics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.