Austin, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The Digital Signal Processors Market Size is expected to be valued at USD 73.50 Billion in 2023. It is estimated to reach USD 129.54 Billion by 2032 with a growing CAGR of 6.5% over the forecast period 2024-2032.
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KEY PLAYERS:
- Broadcom Corporation
- Analog Devices
- Qualcomm
- Toshiba Corp
- Samsung Electronics
- Xilinx
- NXP Semiconductor
- Altera Corporation
- Renesas Electronics Corporation
- Texas Instruments
The digital signal processor market has experienced substantial growth over the last several years due to the rapid advancement of technology and the proliferation of high-performance computing applications in response to it. As such, the telecommunications, automotive, and consumer electronics markets are in dire need of digital signal processing that will allow them to efficiently handle the voluminous data that these industries are privy to. The digital signal processor market is highly beneficial to the processing of real-time data and complex algorithms due to the new opportunity of being able to integrate deep learning and artificial intelligence as part of its integrated circuitry. North America exhibited command of the AI market as of 2013, with 43% of the market share being allotted to this region alongside high demand for sophisticated technological solutions and supporting government policy. Companies, in turn, focus on AI and machine learning 49% of respondents on the subject consider these developments to be high on the priority list, with current adoption numbers being reported at 35% of companies. At the same time, moving cautiously, 42% of respondents hold that their companies were currently exploring the possibilities of utilizing this new technology.
Digital Signal Processors Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 1.01 billion |
| Market Size in 2032 | USD 4.48 billion |
| CAGR (2024-2032) | 18.02% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
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Segment Analysis
By Type
The general-purpose DSP segment captured a revenue share of over 40% in 2023. These systems are highly adaptable; hence, they are deployed in several applications varying from audio and video processing, and telecommunications, to industrial automation. They are capable of multitasking and can handle two or more applications at the same time, increasing their utility in various industries. For instance, the Qualcomm Snapdragon DSP is widely used in tablets and smartphones. It is employed for processing audio and video on these devices and, in addition, for image and voice processing.
By Design Architecture
The embedded DSP segment held a significant market share of over 53% in 2023. Embedded DSPs are integral components of modern digital electronics, offering exceptional performance in signal processing applications such as telecommunications, audio, and image processing. These DSPs are designed to perform complex mathematical operations and processes, enabling real-time digital signal processing. By embedding processing capabilities within the device itself, embedded DSPs eliminate the need for separate processing units, thereby enhancing processing speeds, accuracy, efficiency, and functionality.
Key Regional Developments
North America dominated the DSP market in 2023 with over 30% market share. The region's industrial sector is rapidly adopting DSPs, particularly in advanced manufacturing and healthcare, to facilitate automation and real-time data processing. Smart factories and connected healthcare, key segments of the IoT market, heavily rely on DSPs. According to Knoll, these advancements are driving the demand for DSPs in North America.
The Asia Pacific region is expected to witness the fastest CAGR during 2024-2032, driven by the increasing adoption of smart home devices and the production of consumer electronics. Rising income levels, urbanization, and growing awareness of smart home technologies are propelling the demand for DSPs. The region's mobility trend, influenced by these factors, is leading to the widespread adoption of smart devices for safety, energy control, climate control, lighting, and voice applications.
Recent Developments
- In March 2024, Texas Instruments introduced a new DSP designed for enhanced power efficiency and for real-time processing. Developed specifically for automotive and industrial applications, this DSP provides integrated controllers, analog, and communication peripherals.
- In February 2024, Analog Devices released a new DSP chip for advanced audio processing. This high-performance DSP chip is designed for use in consumer electronics.
- In January 2024, Qualcomm announced a new Snapdragon DSP intended to deliver boosted AI and machine learning functions to users of mobile devices.
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Key Takeaways
- The report offers in-depth knowledge of the Digital Signal Processors Market, assisting clients in comprehending market dynamics, trends, and growth opportunities.
- The research consists of a detailed competitive analysis, enabling clients to compare their performance with main market competitors and pinpoint opportunities for enhancement.
- The report focuses on new chances in the DSP market, helping clients recognize and take advantage of possible investment areas.
- The research delves into the latest technological advancements and product developments in the DSP market.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Digital Signal Processors Market Segmentation, By Type
- Programmable (FPGA & PLD) DSP IC
- Application-Specific DSP IC
- General-Purpose DSP IC
8. Digital Signal Processors Market Segmentation, By Design Architecture
- Embedded DSP
- Standard DSP
9. Digital Signal Processors Market Segmentation, By Industry
- Military and Defense
- Consumer Electronics
- Healthcare
- Telecommunication
- Automotive
- others
10. Digital Signal Processors Market Segmentation, By Application
- Speech Processing and Recognition
- Digital Image Processing
- Audio and Video Compression
- Audio Signal Processing
- Radar Applications
- Others
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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