CHICAGO, May 23, 2024
/PRNewswire/ -- The Digital Signal Processor market is projected
to grow from USD 10.1 billion in 2024
and is estimated to reach USD 14.7
billion by 2029; it is expected to grow at a Compound Annual
Growth Rate (CAGR) of 7.8% from 2024 to 2029 according to a new
report by MarketsandMarkets™. The growth of the Digital
Signal Processor market is driven by surging adoption of Internet
of Things (IoT) and connected devices; increasing trend of digital
signal processing in automotive industry; improvements in 5G
technology and development of advanced communication
infrastructure; and rising demand for Voice over Internet Protocol
(VoIP) and Internet Protocol (IP) video services.
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Browse in-depth TOC on "Digital Signal Processor
Market"
250 – Tables
75 – Figures
320 – Pages
Digital Signal Processor Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 10.1 billion
|
Estimated Value by
2029
|
$ 14.7 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 7.8%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Core, Configuration,
Type, Category, IC Design, Application, End-User Industry and
Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Navigating complexity
and security challenges
|
Key Market
Opportunities
|
Increasing demand for
DSP chips in consumer electronics industry
|
Key Market
Drivers
|
Surging adoption of
Internet of Things (IoT) and connected devices
|
By core, Multi Core DSPs segment is projected to grow at a
high CAGR of Digital Signal Processor market during the
forecast period.
Multi-core Digital Signal Processors (DSPs) are revolutionizing
the automotive industry by handling critical tasks like engine
control, noise cancellation, and advanced driver-assistance systems
(ADAS) in modern vehicles. As single-core DSPs face limitations due
to increasing technological demands, multi-core DSPs offer enhanced
performance through parallel processing, enabling real-time
analysis and manipulation of audio signals for features like active
noise cancellation. Their ability to create virtual partitions
ensures the separation of safety-critical functions from
non-critical ones, enhancing reliability and safety in automotive
systems. Additionally, multi-core DSPs support mixed-criticality
applications, simplifying development and certification processes
while meeting stringent automotive safety standards like ISO 26262.
Despite challenges like development complexity and safety
considerations, multi-core DSPs provide future-proofing
capabilities and are poised to play a vital role in delivering
advanced features and functionalities in next-generation vehicles,
making them indispensable in shaping the automotive industry's
technological advancements.
High-end segment in configuration will account for highest
CAGR during the forecast period.
High-end Digital Signal Processors (DSPs) stand out in the
market for their exceptional processing power, achieved through
multi-core architectures, advanced instruction sets, and high clock
speeds, enabling them to handle complex algorithms and real-time
computations efficiently. These DSPs excel in high-performance
computing tasks like real-time audio and video processing, medical
imaging, and telecommunications infrastructure, leveraging parallel
processing techniques for enhanced computational throughput.
Customizable architectures, integration of peripheral interfaces,
low latency, power efficiency, and robust security features further
differentiate high-end DSPs, making them ideal for demanding
applications across various industries like telecommunications and
healthcare.
Application-specific DSPs in type segment in Digital Signal
Processor market will account for the highest CAGR during the
forecast period.
Application-specific DSPs find extensive use in areas such as
automotive systems, consumer electronics, medical devices, and
industrial automation. The increasing complexity and specialization
of end-user applications, as well as the need for efficiency and
performance gains within targeted domains are fueling the demand
for application-specific DSPs. As industries continue to demand
customized solutions to address specific challenges and
requirements, the demand for application-specific DSPs is expected
to grow.
Floating-point DSPs in category segment in Digital Signal
Processor market will account for major market share during the
forecast period.
Floating-point DSPs are a critical component of the digital
signal processing market. The representation and manipulation of
rational numbers using a minimum of 32 bits in floating-point DSPs
are crucial for achieving high precision and dynamic range in
signal processing tasks. By employing a format akin to scientific
notation, with separate components for the mantissa and exponent,
floating-point DSPs can accurately handle a wide range of numerical
values, spanning from very small to very large magnitudes. This
capability is essential in applications such as audio and video
processing, scientific computing, and telecommunications, where
precise representation and manipulation of data are paramount.
Additionally, the ability to accommodate a broad spectrum of
numerical values ensures that floating-point DSPs can effectively
address the diverse computational requirements of modern signal
processing algorithms across various industries, ultimately
contributing to improved performance and efficiency in signal
processing applications. Additionally, the increasing complexity of
signal processing algorithms in fields such as wireless
communication, multimedia, and radar systems drives the adoption of
floating-point DSPs. These processors can efficiently handle
complex algorithms and computations, meeting the evolving
requirements of modern applications.
Embedded in IC Design segment is expected to account for the
largest share during the forecast period.
Embedded Integrated Circuits (ICs) serve as invaluable
companions to Digital Signal Processors (DSPs), enhancing their
capabilities. Embedded ICs, like a talented supporting cast, handle
essential behind-the-scenes work such as memory management,
peripheral interfacing, and low-power operations. By offloading
these tasks, the DSP can dedicate its processing power to core
functions, improving overall system efficiency. Additionally,
embedded ICs add functionality to DSP systems, acting as
specialized tools like Analog-to-Digital Converters (ADCs) and
Digital-to-Analog Converters (DACs). These tools enable the DSP to
work with real-world signals effectively, making the system more
comprehensive and capable. In essence, embedded ICs make DSPs more
well-rounded by optimizing resource allocation and providing
essential features for a fully functional system.
Audio Processing segment in DSP Market will account for
largest share during the forecast period.
Audio processing stands as the dominant force within the Digital
Signal Processor (DSP) market. This segment thrives on the
escalating demand for immersive and high-fidelity audio experiences
across consumer and professional domains. DSPs are essential in
this realm due to the challenges posed by digital audio, such as
noise, distortion, and other imperfections. They excel in tasks
like noise reduction, equalization (EQ) for compensating speaker
limitations, echo cancellation crucial for clear communication,
audio enhancement with effects like reverb and spatial audio, and
compression/decompression for efficient storage and transmission.
Applications span across consumer electronics like smartphones,
headphones, and TVs, where DSPs enhance audio quality and enable
immersive experiences. In professional audio, DSPs power studio
equipment for recording and mastering, live sound reinforcement
systems, and broadcasting equipment for noise-free transmission.
Growth is fueled by the demand for premium audio experiences, the
proliferation of connected devices, and advancements in audio
technologies like AI-powered processing and low-power DSPs,
ensuring a dynamic and promising future for this segment within the
DSP market.
Healthcare in end-user industry segment in Digital Signal
Processor market will account for the highest CAGR during the
forecast period.
Digital Signal Processors (DSPs) are revolutionizing the
healthcare sector with their diverse applications, significantly
enhancing diagnostics, medical devices, and biomedical research. In
medical imaging, DSPs are indispensable for processing raw data
from imaging machines like MRIs and CT scanners. They excel in
tasks such as filtering noise, enhancing signals, and
reconstructing detailed images critical for accurate disease
diagnosis. Moreover, DSPs play a pivotal role in signal processing
for diagnostics, particularly in analyzing weak electrical signals
from the heart (ECG) and brain (EEG). By filtering noise and
extracting key features, DSPs aid in diagnosing cardiac
arrhythmias, epilepsy, and other neurological conditions. This
principle extends to other diagnostic applications such as EMG for
muscle function assessment and pulse oximetry for blood oxygen
monitoring. Additionally, DSPs are integral to various medical
devices and equipment, from modern hearing aids that personalize
listening experiences to pacemakers and defibrillators that
regulate heart rhythm with precision. Furthermore, DSPs contribute
significantly to biomedical research by enabling signal analysis,
feature extraction, and pattern recognition, driving advancements
in drug discovery, disease understanding, and personalized medicine
approaches. Overall, DSPs' high-speed, accurate processing
capabilities are transforming healthcare, enhancing diagnostics,
improving medical devices, and accelerating biomedical research for
better patient outcomes.
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Asia Pacific will account
for the highest CAGR during the forecast period.
The Digital Signal Processor industry in the Asia Pacific region is experiencing
significant growth, primarily fueled by the telecommunications
sector's due to rapid advancement in 5G technology. China and Japan are leading in 5G deployment, closely
followed by India, driving the
demand for DSPs. The APAC market is driven by the telecom sector's
high-speed internet needs and the increasing demand for advanced
network infrastructure. As per GSMA's "The Mobile Economy Asia
Pacific 2023" report, the anticipated economic contribution of 5G
to the Asia Pacific region in 2030
stands at a significant USD 133
billion, comprising over 13% of the total economic influence
of mobile technology. In India,
burgeoning opportunities in the telecom sector are propelling
growth, driving the DSP market upward. Simultaneously, the surge in
industrial automation across the Asia
Pacific region is amplifying the demand for DSPs.
Key Players
Key companies operating in the Digital Signal Processor
companies are Analog Devices, Inc. (US), Microchip Technology Inc.
(US), Texas Instruments Incorporated (US), NXP Semiconductors
(Netherlands), Marvell (US),
Qualcomm Technologies, Inc. (US), Cirrus Logic, Inc. (US),
STMicroelectronics (Switzerland),
TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan), Infineon Technologies AG (Germany), and Broadcom (US) among others.
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