According to the latest report by IMARC Group, titled “Application Processor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global application processor market reached a value of US$ 31.9 Billion in 2020. Looking forward, IMARC Group expects the global application processor market to reach a value of US$ 41.70 Billion by 2026, exhibiting a CAGR of 4.60% during 2021-2026.
Application processors refer to the system on a chip (SoC) processors which are utilized for supporting the applications running on a mobile operating system. These processors may or may not be independent of other processors present in the mobile device.