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Digital Signal Processors Market to Witness Robust Expansion Throughout the Forecast Period 2017 – 2027
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Digital Signal Processors Market: Drivers and Restraints
Digital signal processors market are witnessing widespread adoption in many applications, owing to the many benefits it offers. The small size, high operational efficiency and low cost of digital signal processors are expected to be factors contributing to the growth of digital signal processors market. Moreover, the increasing demand for cheaper consumer electronics with improved performance is another factor expected to drive the growth of digital signal processors market in the near future. Growing popularity of next gen technologies such as IoT and big data, combined with advanced computing algorithms is expected to create vast opportunities for digital signal processors market. Major restraint faced by digital signal processors market is the lack of skilled labor, crucial for designing and programming the complex architecture of digital signal processors. Moreover, design engineers face challenges while designing low cost digital signal processors, as they have to balance between performance and cost.
Digital Signal Processors Market: Segmentation
Digital signal processors market can be segmented on the basis of architecture, application, verticals and regions. On the basis of architecture, the market can be segmented into Von Neumann architecture, Harvard architecture, and Super Harvard architecture. The different application that digital signal processors are used in are image processing, audio processing, video processing and others. Digital signal processors market can be segmented on the basis of verticals into computers, consumer electronics, automotive, industrial, medical, telecommunications, aerospace & defence and others. Region wise, the segmentation is done into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa.
Digital Signal Processors Market: Regional Outlook
North America digital signal processors market is expected to dominate the global digital signal processors market owing to high penetration rate of advanced technologies and presence of established players. However, Asia Pacific excluding Japan and Japan are expected to witness high growth rates as consumers are increasingly becoming inclined to using latest technology and the increase in the number of tech start-ups in these regions. Western Europe digital signal processors market is expected to witness a moderate growth rate followed by Eastern Europe digital signal processors market and Middle East and Africa digital signal processors market.
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Digital Signal Processors Market: Competition Landscape
Key players in digital signal processors market focus on product innovation and introduction in order to sustain in the highly competitive market and increase their customer base. Other key strategies followed by the players in the market is mergers and acquisition and partnerships for maintaining their position in the market. For example, in February 2017, Cadence Designs Systems, Inc. collaborated with Alango Technologies Ltd. for introducing advanced digital signal processors for voice communication and voice enhancement.
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