Qualcomm To Remain Leader In Global Application Processor Market, But Intel Will Show Stronger Growth

According to a report by DigiTimes, the global application processor (AP) market is expected to grow 8.5 percent in 2016, outpacing 2015's 7.9 percent growth and total 1.78 billion units.

DigiTimes added that QUALCOMM, Inc. (NASDAQ: QCOM) will remain the global leader throughout 2016 with a 24 percent market share. The company is expected to deliver 430 million units during the year, which would represent a 7.5 percent growth year over year.

The report added that Intel Corporation (NASDAQ: INTC) is expected to see a 25 percent growth in its deliveries, mostly due to its new low-cost 4G solutions.

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DigiTimes also noted that demand for traditional AP markets, such as tablets, will decline in 2016, other emerging applications such as automobile electronics and smart watches are already "booming."

Shares of Qualcomm were trading higher by 0.59 percent at $49.08 ahead of Friday's opening bell, while Intel's stock was lower by 0.41 percent at $29.30.

Image Credit: By The Conmunity - Pop Culture Geek from Los Angeles, CA, USA - CES 2012 - Qualcomm, CC BY 2.0, Wikimedia