Market Trends of Europe MPU Industry
Growth of 5G Communication Technology in Region Drives the Market
- With the 5G technology being widely implemented across the region, these microprocessors are also being utilized in consumer electronics applications like desktop PCs, smartphones, tablets, and servers where the 5G technology are being operated along with microprocessor because of their quick processing speed, small size, and ease of maintenance.
- According to VIAVISION, in 2023, around 65 cities in Italy, 52 in France and 61in the United Kingdom where 5G was made available is expected to grow more over the forecasted period and would drive the microprocessor market in the region.
- Further, according to Ericsson, the total number of 5G subscriptions in Western Europe is anticipated to reach over 480 million by 2029. Earlier in 2023, there were 67 139 million 5G subscriptions in Western Europe, with a significant rise in the coming years, providing the market vendors for MPUs and the opportunity to expand their business.
- Besides, in March 2023, The Belgium government announced the winners of its 5G pilot project tender, where Mobile operator Orange emerged as the winner. It was elected to carry out 12 of these projects. Through these projects, the government aims to accelerate 5G innovation in Belgium which it says has suffered from a slower 5G rollout than most other EU, which will also impact and drive the market for microprocessors.
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Growing Automotive Industry in the Region to Drive the Market
- Microprocessors are used in automobiles for numerous purposes, primarily for handling and managing different systems and features of the car, such as the engine, fuel injection, safety features, climate control, and entertainment systems, and enabling the vehicle systems to communicate and work together seamlessly, while permitting for better monitoring and diagnostics of the car's performance.
- Further, as per European Automobile Manufacturers Association (ACEA) report, in April 2022, around 831,000 passenger cars were sold in the region of Europe, of which about 180,300 units were sold in Germany, stayed the leading market for passenger car sales in Europe that month.
- Also, according to Statistisches Bundesamt (Federal Statistical Office is a federal authority of Germany), in 2022, the German automotive industry generated a revenue of around EUR 506 billion (USD 559.3 billion), which was an increase compared to around EUR 411 billion (USD 455.3) in 2021 and is anticipated to grow more ove coming future and drive the market for the microprocessor in the region.
- Various automotive system suppliers, OEMs, and Tier 1s in the market have also started to focus on developing microprocessors as software increasingly plays an important role in the automotive market. As such, such an increased focus on the development of MPU will positively impact the market.
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