The smartphone market, and therefore smartphone processors, have skyrocketed over the past few years, but a new report from Strategy Analytics is suggesting that the smartphone processor market could continue to soar through 2018. The report predicts an annual growth rate of 11% between now and then, reaching a total market size of $30 billion.

In this segment from Friday's Tech Teardown host Erin Kennedy and Motley Fool tech and telecom bureau chief Evan Niu discuss the biggest growth drivers for this market over that period, and which players involved stand to benefit the most. Evan points to LTE-Advanced technology and a major transition to the 64-bit chip architecture that Apple (NASDAQ:AAPL) initiated last year. He discusses the major shift happening at the moment away from stand-alone processors to processors with integrated cellular functions. Evan expects the market penetration of the multi-core integrated chips to skyrocket, as penetration for the stand-alone chips recedes.

Evan tells investors who the biggest players in the market's shift to the 64-bit architecture will be, and why Intel (NASDAQ:INTC) may be the surprise player to watch in this space, despite currently having almost no smartphone chip presence.

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Erin Kennedy owns shares of Apple. Evan Niu, CFA owns shares of Apple and Qualcomm. Evan Niu, CFA has the following options: long January 2015 $460 calls on Apple and short January 2015 $480 calls on Apple. The Motley Fool recommends Apple and Intel. The Motley Fool owns shares of Apple, Intel, and Qualcomm. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.