Digital Signal Processors Market Definition And Segments
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.
The main types of digital signal processors are general purpose digital signal processor, programmable digital signal processor, and specific purpose or application specific digital signal processor. A general-purpose digital signal processor (DSP) is a type of microprocessor specifically designed to perform digital signal processing tasks. Single and multi-core processors are used for various strategic analysis include value chain analysis, opportunities analysis, product or market life cycle, and suppliers and distributors for wireless communications, audio and video processing, digital image processing, radar communication, medical devices, mobile telecommunication, industrial automation, radio frequency digital signal processing applications of communication, automotive, consumer electronics, industrial, aerospace and defense, healthcare end-user industries.
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
The digital signal processors market size has grown strongly in recent years. It will grow from $14.62 billion in 2023 to $15.97 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to significant developments in wireless infrastructure, growing demand for digital signal processing within automotive applications drives its market growth, growing demand from thriving automotive industry to propel digital signal processor sales, increasing demand for high-quality audio and video processing, rapid advancements in technology driving DSP market growth.
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.
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.
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.
Acquisition Of Axign BV By Monolithic Power Systems Inc.
In February 2024, Monolithic Power Systems Inc., a US-based company specializing in high-performance power solutions, acquired Axign BV for an undisclosed amount. With this acquisition, Monolithic Power Systems aims to revolutionize audio signal processing and amplification, enhancing the audio experience in automotive and consumer systems. Axign BV is a Netherlands-based semiconductor company specializing in programmable multicore digital signal processors.
Asia-Pacific was the largest region in the digital signal processor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital signal processors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the digital signal processors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The digital signal processor market consists of revenues earned by entities by providing services such as signal processing solutions, customization services, consulting services, integration services, and telecommunications. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital signal processor market also includes sales of DSP chips, DSP development boards and software development tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The digital signal processors market research report is one of a series of new reports from The Business Research Company that provides digital signal processors market statistics, including digital signal processors industry global market size, regional shares, competitors with a digital signal processors market share, detailed digital signal processors market segments, market trends and opportunities, and any further data you may need to thrive in the digital signal processors industry. This digital signal processors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.