New York, March 20, 2023 (GLOBE NEWSWIRE) -- The global Digital Signal Processor Market reached US$ 69.1 billion in 2022. Total sales of digital signal processors worldwide are set to rise at 6.6% CAGR through 2032. Accordingly, by the end of 2032, the global market revenue will hit US$ 131.0 billion.
Automotive sector is likely to remain leading end user of digital signal processors. The automotive segment will expand at 6.4% CAGR through 2032, as per Persistence Market Research.
Growing applications of digital signal processors in diverse industries is driving the market. Digital signal processors are being used across industries such as automotive and electronics. Hence, expansion of these sectors will fuel digital signal processor sales.
Digital signal processors are mostly used in audio signal processing, speech processing, data transmission, video data compression, and other applications.
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Rising demand for consumer electronics such as smartphones and laptops is likely to boost market. This is due to increasing usage of DSPs in these consumer electronic systems.
Digital signal processors also find application in infotainment systems of vehicles. This is because these processors can handle complex systems with ease. Rising demand for passenger cars is set to expand the global digital signal processor market.
Growing adoption in healthcare and defense sector will elevate digital signal processor demand.
Key Takeaways from Digital Signal Processor Market Report:
- Global digital signal processor sales are forecast to surge at 6.6% CAGR through 2032.
- By core type, multi-core DSP segment is likely to expand at 6.5% CAGR over the next ten years.
- By end user, automotive segment will thrive at 6.4% CAGR during the assessment period.
- Digital signal processor demand across China is set to rise at 8.0% CAGR through 2032.
- The United States digital signal processor market will reach around US$ 20.8 billion by 2032.
- Sales of digital signal processors in Korea are likely to increase at 7.0% CAGR.
“Rising demand for DSPs from thriving automotive industry will boost the market. Besides this, new product launches with improved features will fuel sales. Says a Persistence Market Research analyst.
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Who is Winning?
Broadcom, Inc., Analog Devices, Inc., Infineon Technologies AG, Ltd., STMicroelectronics N.V., NXP Semiconductors N.V., Qualcomm, Inc., Toshiba Corporation, Texas Instruments, Inc., Xilinx, Inc., and Samsung Electronics Co. are leading manufacturers of digital signal processors.
These companies are constantly launching new advanced products into the market. They are also using merger & acquisition strategy to expand their presence.
Recent Developments:
- In October 2021, DSP2.4 X digital signal processor was introduced by PRV Audio. This processor is capable of making several adjustments.
- In June 2021, Marvell introduced Deneb™ ultra-low power, multi-mode 400G DSP. Development of this processor expands the company’s Coherent Digital Signal Processor (CDSP) portfolio.
Get More Valuable Insights into Digital Signal Processor Market
Persistence Market Research, in its new offering. presents an unbiased analysis of the Digital Signal Processor market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2023 to 2032.
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The study reveals extensive growth in the digital signal processor market in terms of
- Core type (single core, multi-core),
- type (DSP multiprocessor on a die, 32 –bit floating point, and 16 – bit floating point),
- end user (consumer electronics, aerospace & defense, automotive, manufacturing, and healthcare)
- across various regions.
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Persistence Market Research's highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
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