In a recent published report, Kenneth Research has updated the market report for Digital Signal Processor Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Digital Signal Processor Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
A digital signal processor is the microprocessor which carries out heavy mathematical computation by scientific manipulation and performs functions such as addition, multiplication, subtraction and division to analyze the information. Digital signal processor is widely used in aerospace, communication, military and various other consumer & industrial applications. Engineers are crafting digital signal processors with operating in isolation, multiple cores and with higher efficiency.
Market Size and Forecast
The digital signal processor market, in terms of value, is estimated around USD 9.8 Billion in 2017 and expected to grow rapidly during the forecasted period at a CAGR of around 8.7%. Digital signal processor is preferred over analog signal processers as they can carry out heavy mathematical computations. Digital signal processors (DSP) are very quick in processing information and can use that information for use in numerous applications.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
North America holds the largest market share in terms of revenue due to the major use of digital signal processor in healthcare, automotive, and consumer electronics. Significant investment in research, production and development of digital signal processor leads to the growth of digital signal processor market in this region. Advancement in electronics and semiconductor companies which developed low cost hardware equipped with advance features and capabilities contributed to the growth of digital signal market.
Asia Pacific is anticipated to be the fast growing market of digital signal processors. Asia Pacific is the leading market for electronics manufacturing and wide use of digital signal processors in electronics industry expected to foster the growth of Asia Pacific digital signal processors market. In this region, a skilled labor at lower cost is easily available which results to the high production of digital signal processor. Europe is expected to show a lucrative growth during the forecasted period due to the high demand for electronics product which directly results in the growth of digital signal processor market in this region.
Our-in depth analysis of the global digital signal processor market includes the following segments:
By Number of Cores
DSP Multiprocessors on a die
32-bit Floating Point
16-bit Fixed Point
By End-User Industry
Aerospace and Defense
Global digital signal processor market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges
Digital signal processor is highly efficient and has low cost. Due to the low cost of digital signal processor they are also being used in low cost electronic devices. These are the factors which are anticipated to drive the growth of digital signal processors market during the forecasted period. Next generation technologies such as big data and Internet of Things combined with innovative computing algorithms is projected to create huge opportunities for digital signal processors market.
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Technological advancement and developments in wireless infrastructure are also the major factors which are driving the growth of digital signal processor market globally. Raise in data traffic and use of internet protocol (IP) cameras for video surveillance also increasing the demand for digital signal processors. Due to the lower cost of digital signal processor they are preferred to build high performance communication systems.
In IoT, digital signal processor is used for low data rate LTE and LPWAN standards to ensure flexibility and low power to support multiple standards in a single device. Digital signal processors with vision processing capabilities are widely used in automotive industry for object detection and recognition purposes. Digital signal processor market faces some challenges such as lake of skilled labor and complexity with designing and programming the complex architecture of digital signal processors. Designing low cost digital signal processors is a tough task for engineers as they have to maintain the balance between performance and cost.
Key Product Offerings
Infineon Technologies AG
Renesas Electronics Corporation
Texas Instruments Incorporated
Analog Devices, Inc.
Scope and Context
Overview of the Parent Market
The global digital signal processor market is segmented as follows:
By Number of Cores Type Market Size & Y-O-Y Growth Analysis
By Type Market Size & Y-O-Y Growth Analysis
By End User Industry Type Market Size & Y-O-Y Growth Analysis
By Region Type Market Size & Y-O-Y Growth Analysis
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