The new report by Expert Market Research titled, ‘Global Audio DSP Market Growth, Share, Size, Trends, Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global DSP audio market, assessing the market based on its segments like types, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 9.4%
The audio DSP market is being driven by the thriving consumer electronics industry. The rising demand for audio DSP can be attributed to the increasing adoption of smartphones, tablets, computers, gaming consoles and other devices in developing countries like China, Brazil, India and Argentina owing to their increasing middle-class disposable and discretionary income. The integration of audio DSPs in these devices can help save time while also improving the consumer experience. For instance, the audio DSP system can be used to navigate directions while driving.
Meanwhile, the rising application of the product in the cloud streaming and video streaming industry is likely to provide an impetus to the market. The rising investments from key players towards enhancing the Audio DSP technology is expected to aid the market growth in the forecast period. In post-COVID days, as the various sectors recover from the negative impacts of the pandemic, the product is likely to witness a rise in demand.
Audio DSP Industry Definition and Major Segments
Audio DSP stands for digital signal processing, which is a technology used to take an input or digital signal and process it into a different digital signal. It is generally used to fix problems or tweak audio devices to make them sound better. Some other common applications for audio DSP include adding delay to make sound bounce evenly between speakers and specifying which frequency of sound goes to the tweeter, sub or woofer. Audio DSP is notably used as an equalizer in different rooms or settings.
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The Audi DSP market, on the basis of technology, can be segmented into:
On the basis of end-use, the market can be categorised into:
- Over-Ear Headphones
- Home Entertainment
- Smart Home
The regional markets for Audio DSP include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Among these, Asia-Pacific is expected to account for a significant share of the global audio DSP industry over the forecast period.
Audio DSP Market Trends
The increasing adoption of DSP systems in automobiles is expected to augment the audio DSP industry. Policies promoting the adoption of electric vehicles in developed countries is expected to aid the market growth as electric vehicles are often associated with modern features like Audio DSP. Technological advancements in 3D audio and Bluetooth audio codecs and the advent of 5G technology and Internet of Things (IoT) is likely to be another key trend bolstering the market growth in the forecast period. The rapid technological advancements and increasing investments by the key players to develop innovative solutions with latest features are anticipated to significantly contribute to the market growth.
Key Market Players
The major players in the market are Analog Devices Inc., Broadcom Inc., CEVA Inc., Intel Corporation NXP Semiconductors, N.V. Qualcomm Technologies Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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