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.
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.
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:
Global digital signal processor market is further classified on the basis of region as follows:
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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.
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.
Overview of the Parent Market
The global digital signal processor market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment.
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