Digital Signal Processor (DSP) Market Research Report Analysis By Type (Generic or Application Processors and Specialized Audio Edge Processor ), Category (Fixed Point Processors and Floating Point Processors ), DSP Core (Single-core DSPs and Multi-core D

Digital Signal Processor (DSP) Market Research Report Analysis By Type (Generic or Application Processors and Specialized Audio Edge Processor), Category (Fixed Point Processors and Floating Point Processors), DSP Core (Single-core DSPs and Multi-core DSPs), Application (Audio Signal Processing, Video Signal Processing, Security & Safety Systems, Radar & Sonar Applications, and Others), Industry (Consumer Electronics, Automotive, Healthcare, Military, Telecommunication, and Others), And By Region (North America, Europe, Asia-Pacific, Middle East Africa, South America)- Global Forecast to 2030

Market Synopsis

In 2023, the market for digital signal processors (DSPs) was estimated to be worth USD 29407.3 million. Throughout the study period, a compound annual growth rate (CAGR) of 7.90% is anticipated for the digital signal processor (DSP) sector. The two main factors propelling the growth of the digital signal processor (DSP) market are the rising demand for cloud-based talent management software and the rise of social media.

ADAS systems, which help drivers and improve road safety, rely heavily on DSPs. DSPs process data from several sensors, including cameras, radar, lidar, and ultrasonic sensors, as part of the sensor fusion process. They make it possible to process and analyze sensor data in real-time, which enables features like adaptive cruise control, lane departure warning, object identification, and collision avoidance. DSPs will remain essential for processing complicated sensor data and enabling real-time decision-making in self-driving cars as autonomous driving technology advances.

DSPs are used in car infotainment systems to improve the processing power of audio and video. They make technologies like speech synthesis, noise cancellation, surround sound, and voice recognition possible, giving passengers a top-notch audio-visual experience. In order to ensure effective storage and playing of audio files in a variety of formats, DSPs also handle audio compression and decompression techniques.

In vehicular communication systems, DSPs help to facilitate dependable and effective communication between vehicles and infrastructure. They handle signals for communication between vehicles and infrastructure (V2I and V2V), which makes jobs like cooperative driving, traffic control, and collision avoidance easier. For connected cars to operate seamlessly and securely, real-time processing and analysis of communication signals is dependent on DSPs.

Insights on market segments

The Digital Signal Processor (DSP) Market is segmented by Type and comprises Specialized Audio Edge Processors and Generic or Application Processors.

The market is segmented into single-core and multi-core DSPs based on DSP core.

The Digital Signal Processor (DSP) Market is segmented according to Application, which comprises Security & Safety Systems, Radar & Sonar Applications, Audio Signal Processing, Video Signal Processing, and Others.

The market is segmented into consumer electronics, automotive, healthcare, military, telecommunication, and others based on the End User.

Public Sector and Private/Independent Power Producers are included in the market segmentation based on End Users.

Localized Perspectives

Asia-Pacific accounted for 33.9% of the global revenue in the Digital Signal Processor (DSP) market in 2022, and this trend is anticipated to continue during the forecast period. Over the course of the forecast period, the Asia-Pacific digital signal processor market is anticipated to expand quickly. The region is home to a sizable market for electronic manufacturing, and market expansion is anticipated due to the growing use of digital signal processors in the electronics industry. Due to the strong demand for smartphones in nations like South Korea, Japan, China, and India, a number of vendors have established manufacturing facilities there.

The US market is leading the way due to growing demand from the aerospace, defense, and automotive industries. More than 3.5 million passenger cars were sold in the US in 2021. By the end of 2033, it is anticipated that there will be more than 15 million passenger cars sold in the US. The American market for digital signal processors will gain from this rise in automobile manufacturing and sales.

The rise in demand for DSP software among marketers in Germany, France, and the United Kingdom is the cause of the growth. Programmatic ad spending in Central and Eastern Europe (C&E Europe) is expected to increase significantly between 2021 and 2024, predicts Zenith.

Principal Players

Asahi Kasei Corporation, Qualcomm Technologies Inc., Broadcom Inc., STMicroelectronics, Knowless electronics LLC, Cirrus Logic, Inc., ROHM Company Ltd., Renesas Electronics Corp., Skyworks Solutions Inc., Rockwell Automation Inc., Xilinx Inc., Waytronic, Intel Corporation, and NVIDIA Corporation are the major players in the market.