Digital Signal Processing (DSP) is used in most of the electronic devices by far and large. However, mobile phones account for the most significant application of DSP which is providing tremendous market traction to the DSP market. Moreover, the growing applications of DSP in several other sectors such as consumer electronics, infrastructure, automotive navigation, and imaging systems is escalating the market on the global platform.
Acknowledging the pace at the DSP market is climbing up pervasively, Market Research Future (MRFR) in its recently published study report asserts that the global digital signal processor market will reach USD 16 BN by 2023, registering a striking CAGR of 12% throughout the forecasting period (2018 – 2023).
Some of the major growth drivers of DSP market include the high usage of DSP chip in the consumer electronics market, growing demand of digital signal processors in the automotive sector, and the rapidly advancing technology which is useful for DSP, and other surveillance equipment among others.
On the other hand, factors such as the high cost of instruments and complex designs are impeding the growth of the DSP market. Also, the growing demand for microprocessor enabled smartphones have restricted the uses of DSP in the mobile application market.
Nevertheless, growing application areas of DSP with the emergence of smart new devices are expected to support the growth of the DSP market over the assessment period.
The MRFR analysis is segmented into five key dynamics for enhanced understanding.
By Design Architecture: Standard DSP, and Embedded DSP (single-core DSP processor and multi-core DSP processor).
By Type: General Purpose DSP, Application Specific DSP, and Programmable (FPGA & PLD) DSP.
By Application: Audio Signal Processing, Audio & Video Compression, Speech Processing & Recognition, Digital Image Processing, and Radar Applications, among others.
By Industry: Consumer Electronics, Automotive, Healthcare, Military & Defense, and Telecommunication among others.
By Regions: North America, Europe, APAC, and the Rest-of-the-world (RoW).
The North American region dominates Digital Signal Processor Market with the largest market share. Therefore, the region also accounts for substantial growth in terms of revenue generation. Factors such as the broader applications of the digital signal processors in automotive, healthcare, and consumer electronics drive the regional DSP market.
Moreover, the presence of many electronics and semiconductor companies developing cheaper hardware with high power, more features, and capabilities substantiate the growth of the market. Additionally, factors such as substantial investments in production and research, and development activities led by the higher adoption of system on chip (SoC) devices are also aiding the market growth in the region.
The digital signal processors market in the Asia Pacific region is expected to account for the second-largest market, following the North American market closely. Due to the higher demand for faster and secure storage devices, the APAC DSP market is estimated to grow at a significant rate during the forecast period. The market is expected to create a substantial revenue pocket by 2023, growing at a considerable CAGR throughout the assessment period.
The European market for digital signal processors is expected to grow at a remarkable CAGR during 2018-2023. The presence of technologically matured countries such as Germany, the U.K, and France heading with their burgeoning industries like automotive, banking and financial services foster the growth in the regional market. Moreover, the significant concentration of electronics and semiconductor industries fuels the growth of the regional DSP market.
The global digital signal processors market appears to be highly competitive characterized by the presence of several well-established as well as small players. Matured players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and technology launch in order to gain a competitive advantage and thus to maintain their positions in this market. Additionally, some of the other strategies adopted by vendors in the market include greater commercialization of their products, promotion initiatives through trade exhibitions and increased collaboration.
Key players leading the global digital signal processors market include Altera Corporation (U.S.), Analog Devices Inc. (U.S.), Broadcom Corporation, (U.S.), Qualcomm Inc. (U.S.), NXP Semiconductor (Netherlands), Renesas Electronics Corporation (Japan), Toshiba Corp. (Japan), Samsung Electronics Co. Ltd. (South Korea), Texas Instruments Inc. (U.S.), Xilinx Inc. (U.S.), Ceva, Inc (U.S.), Infineon Technologies AG (Germany), Freescale Semiconductor Holdings Ltd (Bermuda), Marvell Technology Group, Limited (Bermuda), STMicroelectronics (Switzerland), MIPS Technologies, Inc (U.S.), Toshiba Corporation, (Japan), DAS Audio Group, S.L (Spain), AudioControl (U.S.), Crestron Electronics, Inc. (U.S.), Integrated Device Technology (U.S.), Extron Electronics (U.S.), ON Semiconductor (U.S.), and ROHM Semiconductor (Japan), among others.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
+1 646 845 9312