Digital Signal Processors Global Market Report 2024

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 experienced in the historic period can be traced back to notable advancements in wireless infrastructure, the rising demand for digital signal processing in automotive applications, and a growing need for high-quality audio and video processing.

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 forecasted growth in the upcoming period can be primarily linked to the escalating demand for Voice over Internet Protocol (VoIP) and Internet Protocol (IP) video services, the surge in adoption of connected devices, the extensive utilization of digital signal processor chips in consumer electronics.

The digital signal processors market is poised for significant growth, fueled by the increasing demand for consumer electronics. Consumer electronics, encompassing a range of devices for daily use, are witnessing heightened demand driven by factors such as enhanced connectivity, the proliferation of remote work and learning, the popularity of entertainment and streaming services, and the ease of access through e-commerce platforms. Digital signal processors play a vital role in enhancing consumer electronics by enabling advanced 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 data from the United States International Trade Commission (USITC), the total value of U.S. exports of electronic products surged from $286 billion in 2021 to $302 billion in 2022, marking a growth rate of approximately 10%, underscoring the robust demand for consumer electronics and driving the digital signal processors market forward.

Key players in the digital signal processor market are actively developing innovative products to meet the evolving needs of consumers, exemplified by offerings such as AK7018 and AK7017. These cutting-edge DSPs, introduced by Asahi Kasei Microdevices Corporation in December 2022, are designed to elevate the in-car audio and voice experience. Featuring dual and single HiFi 4 CPUs respectively, the AK7018 and AK7017 are pin-compatible audio DSPs that offer versatility in building automotive entertainment systems while delivering superior audio and speech quality. While the AK7017 provides a scalable solution for simpler system versions, the AK7018, equipped with twin HiFi 4 DSP cores, enables simultaneous processing of high-resolution audio and speech, setting new standards for in-car audio experiences.

In February 2024, in a strategic move to bolster its capabilities in audio signal processing, Monolithic Power Systems Inc., a leading provider of high-performance power solutions, acquired Axign BV. This acquisition underscores Monolithic Power Systems' commitment to revolutionizing audio signal processing and amplification, particularly in automotive and consumer systems. Axign BV, a Netherlands-based semiconductor company specializing in programmable multicore digital signal processors, brings valuable expertise and technology to further enhance Monolithic Power Systems' offerings and drive innovation in the digital signal processing 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.

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.

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.

General-purpose digital signal processors (DSPs) are microprocessors tailored for digital signal processing tasks. They are utilized across various industries such as wireless communications, audio and video processing, digital image processing, radar communication, medical devices, mobile telecommunication, industrial automation, and more. These processors, available in single and multi-core configurations, play a vital role in strategic analyses such as value chain analysis, opportunities analysis, product or market life cycle assessment, and evaluating suppliers and distributors. Industries benefiting from DSP applications include communication, automotive, consumer electronics, industrial manufacturing, aerospace and defense, and healthcare.

The digital signal processors market research report is one of a series of new reports 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.

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.


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