Global Digital Signal Processors Market (2021 to 2026) – by Number of Cores, Type, End-users Industry and Geography – ResearchAndMarkets.com | Financial Buzz

Global Digital Signal Processors Market (2021 to 2026) – by Number of Cores, Type, End-users Industry and Geography – ResearchAndMarkets.com

The “Digital Signal Processors Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.

The digital signal processors market is projected to grow at a CAGR of 7.36% during the forecast period to reach US$19.429 billion by 2026, from US$11.818 billion in 2019.

A digital signal processor, commonly known as a DSP, is a specialized microprocessor that has the capability to process digital data by mathematical manipulation to process, analyze, and interpret the data contained in them. DSP process the given data in real-time, having high data throughput, provide desirable and accurate performance, ensure repeatability, and can be reprogrammable using the software.

The prime reason driving the market growth is increasing usage across several industry verticals owing to the booming demand for processors. Increasing disposable income coupled with rising usage of smart devices has significantly surged usage of DSP, contributing significantly towards the market growth. However, high power consumption acts as an impediment to the market. Nevertheless, innovation in the industry is anticipated to increase new opportunities for the market and tap new growth prospects.

Booming growth in the consumer electronics segment is projected to increase the market growth prospects for digital signal processors during the forecasted period.

One of the prime industries that are expected to contribute significantly toward the market escalation of digital signal processors is consumer electronics. Certain consumer electronics have become a necessity for the world and have witnessed a significant surge in users. BankMyCell reports that the number of mobile phone users globally has surged significantly from 4.30 billion users in 2016 to 4.88 billion users in 2021.

The rise in disposable income, advanced product launches, and fall in the price of basic mobile devices are prime growth factors. Within the mobile phone industry, a large portion of consumers in the market use smartphones. The number of smartphones increased from 2.5 billion in 2016 to 3.8 billion in 2021. This number is further anticipated to increase in the future. Mobile devices are the key employer of digital signal processors, and their growth is expected to surge the market size for DSPs. Furthermore, technological advancement in the industry is predicted to open up new growth prospects.

An increase in the number of other smart devices, such as smart TVs, smartwatches, and smart Tablets is also projected to showcase lucrative growth potential. With an increased standard of living and preference towards a tech-savvy lifestyle, consumers are increasing usage of these devices that supports the market growth.

COVID-19 Insights

The coronavirus pandemic rattled the digital signal processor market by severely impacting the end-user industries, especially consumer electronics, automotive, and manufacturing. With the outbreak of the virus, governments implemented a nationwide lockdown that shut down the manufacturing unit and significantly impacted production, and eventually demand for DSPs.

Companies Mentioned

  • NXP Semiconductors
  • Texas Instruments Incorporated
  • Samsung
  • Fujitsu
  • Intel Corporation
  • Analog Devices Inc.
  • LSI Logic Corporation
  • MIPS

Key Market Segments

By Number of Cores

  • Single-core
  • Multi-core

By Type

  • DSP Multiprocessor on a die
  • 32-bit floating point
  • 16-bit fixed point

By End-Users Industry

  • Consumer Electronics
  • Automotive
  • Healthcare
  • Manufacturing
  • Aerospace and Defence
  • Others

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Others
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Taiwan
  • Indonesia
  • Others

For more information about this report visit https://www.researchandmarkets.com/r/u3tdz5

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