Press release
Digital Signal Processors Market Size, Trends And Report To 2024-2033
The digital signal processors market size is expected to see strong growth in the next few years. It will grow to $22.93 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to growing demand for VOIP and IP video, increasing adoption of connected devices coupled with rise in data traffic is positively impacting the market growth of digital, high usage of digital signal processor chips in consumer electronics will boost market, growing adoption of IoT and connected devices, increasing demand for IoT devices and edge computing. Major trends in the forecast period include advanced technology, proliferation of wireless communication technologies, iot applications, integration of ai and machine learning, automotive industry.
Market Overview -
Digital signal processors (DSPs) are specialized microprocessors designed to efficiently process digital signals, such as audio, video, speech, and data, in real-time or near-real-time applications. It is a versatile and indispensable component in numerous applications with essential requirements for real-time signal processing, high-performance computation, and efficient resource utilization.
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The Impact Of Rising Consumer Electronics Demand On The Digital Signal Processors Market
The rise in demand for consumer electronics is expected to propel the growth of the digital signal processors market going forward. Consumer electronics refers to electronic devices and gadgets designed for everyday use by individuals for entertainment, communication, productivity, and personal convenience. The demand for consumer electronics is increasing due to increased connectivity, the rise of remote work and learning, entertainment and streaming services, the convenience of e-commerce, and the affordability and accessibility of these products. Digital signal processors enhance consumer electronics by enabling high-quality audio processing, image and video enhancement, voice recognition, wireless communication, power management, sensor processing, display optimization, and real-time data processing. For instance, according to the United States International Trade Commission (USITC), a US-based government agency, the total value of U.S. exports of electronic products increased from $286 billion in 2021 to $302 billion in 2022, representing a growth rate of approximately 10.0%. Therefore, the rise in demand for consumer electronics is driving the growth of the digital signal processors market.
Competitive Landscape -
Major companies operating in the digital signal processors market are Samsung Electronics Co. Ltd., Intel Corporation, Qualcomm Incorporated, Broadcom Inc., Toshiba Corporation, Asahi Kasei Microdevices Corporation, Texas Instruments Incorporated, MediaTek Inc., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Inc., Synopsys Inc., Marvell Technology Group Ltd., ROHM Semiconductor, Novatek Microelectronics Corp., Xilinx Inc., Maxim Integrated Products Inc., Cirrus Logic Inc., Silicon Laboratories Inc., Lattice Semiconductor Corporation, Ambarella Inc., DSP Group Inc., CEVA Inc., QuickLogic Corporation, Wave Computing Inc., Imagination Technologies Group plc
Innovative Products In The Digital Signal Processor Market
Major companies operating in the digital signal processor market are developing innovative products, such as AK7018 and AK7017, to enhance the in-car audio and voice experience. AK7018 and AK7017 are pin-compatible audio DSPs featuring dual and single HiFi 4 CPUs. For instance, in December 2022, Asahi Kasei Microdevices Corporation, a Japan-based variety of advanced sensing devices, launched the AK7018 and AK7017, designed to take the in-car audio and voice experience to the next level. These DSPs provide versatility in building cutting-edge automotive entertainment systems while improving the audio and speech quality inside the vehicle. While the AK7017 offers a scalable solution for simpler system versions, the AK7018, equipped with twin HiFi 4 DSP cores, enables simultaneous high-resolution audio and speech processing.
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Key Segments -
The digital signal processors market covered in this report is segmented -
1) By Type: General Purpose Digital Signal Processor, Programmable Digital Signal Processor, Specific Purpose Or Application Specific Digital Signal Processor
2) By Core: Single-Core, Multi-Core
3) By Strategic Analysis: Value Chain Analysis, Opportunities Analysis, Product Or Market Life Cycle, Suppliers And Distributors
4) By Application: Wireless Communications, Audio And Video Processing, Digital Image Processing, Radar Communication, Medical Devices, Mobile Telecommunication, Industrial Automation, Radio Frequency Digital Signal Processing
5) By End-User Industry: Communication, Automotive, Consumer Electronics, Industrial, Aerospace And Defense, Healthcare
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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