Digital Signal Processor Market Outlook – 2027
Digital signal processors are specialized microprocessor chips designed to perform mathematical functions such as additions, subtractions, multiplications, and divisions at high speed with minimal energy consumption. Digital signal processor (DSP) takes real-world signals like voice, audio, video, pressure, and temperature and manipulates them so that the information they contain can be displayed, analyzed, or converted in a type of signal of use. These microprocessors are found in devices such as headphones, smartphones, and vehicle entertainment systems.
DSP is used in computers to control security, in communication facilities, home theatre systems, and video compressions as it provides better control accuracy, signal processing algorithms, and easy storage in magnetic media without loss of quality of signal. This technology is not easily replaceable as digital circuits can be manufactured on chips at a comparatively low cost. DSPs are designed for repetitive and numerically complex jobs with powerful data path and can move large data to and from any memory quickly. These features show that the digital signal processor market is anticipated to undergo a significant growth in the coming years.
The global digital signal processor market is segmented on the basis of type, core type, product, industry vertical, and region. Based on type, the market is categorized into DSP multiprocessors, 32-bit floating point, and 16-bit fixed point. On the basis of core type, the market is divided into multi-core and single-core. Based on product, the market is categorized into general purpose DSP IC, application specific DSP IC, and programmable DSP IC. Based on industry vertical, the market is divided into consumer electronics, automotive, healthcare, manufacturing, aerospace & defense and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global digital signal processor industry include Analog Devices Inc., Fujitsu, Samsung Electronics Co. Ltd., Texas Instruments Inc., NXP Semiconductors, Qualcomm Inc., Toshiba Corporation, Xilinx Inc., Infineon Technologies AG, and Broadcom Inc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to maintain their foothold in the global digital signal processor market.
Top Impacting Factors
Currently, the worldwide urbanization has led to the rise in demand for technologically enhanced digital signal processor embedded devices with advancements in wireless technologies. Increased integration of DSP chips in consumer electronics such as smartphones, printers, set-top boxes, and computers enhances sale of these embedded devices. In addition, growth in data traffic, extensive use of technologies like IP (internet protocol), and cameras for video surveillance are expected to drive the digital signal processor market growth on a global level.
Lack of skilled workforce in the core electronics sector, complexity in designing and programming complex architecture of DSP, rise in cost of raw materials, new technology developed by competitors, and currency fluctuations in various markets are some factors that restrain or hinder the digital signal processor market growth. Furthermore, advancements in electronics and semiconductor industries have come up with low-cost hardware with efficient performance and capability, thus building high performance communication systems and presenting new pathways for the market growth.
New Product Launches to Flourish the Market
Key market players have adopted necessary steps to improve overall accuracy and performance of digital signal processors. In January 2020, STMicroelectronics launched world’s first LoRa System on Chip, STM32WLE5, to connect smart devices with IoT using long-distance wireless connections. This is expected to help in the development of process controllers, trackers, and environmental sensors that show energy-efficient performance.
In addition, in October 2019, Samsung offered Exynos 990, that propelled performance of and supported 120Hz screens. This was Samsung’s latest premium mobile processor accompanied by one of the first 5G modem chips known as Exynos 5123, which supports all network technologies including sub-6Hz and mmWave 5G spectrum to 2G, 3G, 4G, and LTE. It can deliver maximum download speed ranging from 5.1Gbps on 5G or 3.0Gbps on 4G.
The digital processor market is expected to grow at highest CAGR owing to the ever-increasing demand for high-performance, cost-effective communication systems with optimum power consumption.
Surge in Use of DCPs in Automotive and Industrial Applications
Digital signal processors find extensive use in the automotive and industrial sector to manufacture vehicle parts and vehicle surveillance equipment, especially by location-based service vendors, for alignment systems, remote diagnostic systems, and intelligence transportation systems to keep a track on vehicles, fine-tune engine performance, and control traffic flow. Increase in need for safety enhance the use of DSP-controlled braking, air bags, and collision avoidance systems in vehicles.
In June 2019, Toshiba collaborated with Cadence Design System where Toshiba implemented Cadence Tensilica Vision P6 DSPs that supports small power ecosystem and strong core area in next-generation System on Chips (SoCs) to satisfy functional safety requirements in the industrial sector. Innovations in digital signal processor market take wireless communications to a whole new level, which finds ample
opportunities in automotive and industrial sectors.
Key Benefits of the Stakeholders:
The study gives an analytical overview of the digital signal processor market forecast with current trends and future estimations to determine imminent investment pockets.
The report provides information related to key drivers, restraints, and opportunities along with detailed overall digital signal processor market analysis.
The current digital signal processor market trend is quantitatively analyzed.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
COVID-19 pandemic has forced many organizations under the digital signal processor market to halt their on-going business operations in a view to comply with new government rules and regulations worldwide, with respect to the shutdown scenario. This temporary halt in operations have a considerable impact on the market thus, disrupting revenue flow in the digital signal processor market share.
Since individuals are confined to their houses, there is surge in use of drones integrated with DSP technology. Presently, drones and robots are being used to transport medical supplies to hospitals. In China, robots are helping patients explore hospital departments, check temperature, transport medical samples, broadcast messages about lockdown measures, and also disinfect public places. Due to the dearth of employees during this pandemic and to control further outbreak governments across the globe are utilizing digital devices to track the spread of the virus, which is expected to positively impact the digital signal processor industry.
Questions answered in the Digital Signal Processor Market research report:
Who are the leading players in the digital signal processor market?
What are the current trends that would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps
Digital Signal Processor Market Report Highlights
By Core Type
By Industry Vertical
Key Market Players
Qualcomm Inc, Texas Instruments Inc, Analog Devices Inc, Toshiba Corporation, Infineon Technologies AG, Broadcom Inc., Fujitsu, Samsung Electronics Co. Ltd, NXP Semiconductors, Xilinx Inc