Digital Signal Processor Market Size Worth $21.41 Billion By 2034 | CAGR: 7.8%

The global digital signal processor market size is expected to reach USD 21.41 billion by 2034, according to a new study by Polaris Market Research. The report “Digital Signal Processor Market Share, Size, Trends, Industry Analysis Report – By Core (Single-Core DSPs and Multi-Core DSPs); Configuration; Type; Category; IC Design; Application; End-use Industry; and Region; Segment Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing adoption of digital signal processors in the automotive industry, rising use of internet of things (IoT) in multiple industries, and developments in advanced communication infrastructure are a few key factors fueling the growth of the digital signal processor market. As embedded and edge processors are required in industries for fast and effective data transformation, companies are focusing on utilizing their potential for different dimensions of computing and control. Thus, new products with higher sensing capabilities and improved functionality are getting traction. In June 2024, Analog Devices launched the newest digital signal processor (DSP), the ADSP1802, with its Harvard Architecture Single-Chip Computer (SHARC), allowing it to be used in multiple applications such as audio control, noise cancellation, and automotive infotainment.

The increasing volume of data traffic, along with the rising use of internet protocol (IP) and voice over internet protocol (VoIP), is driving the growth of the digital signal processor (DSP) market. Data transmitted through IP and VoIP networks requires processing for tasks such as analysis, conversion, and display. DSPs play a critical role in converting signals gathered by analog devices, processing this data at high speeds, and sending it back for use across various applications. This capability is essential for managing the demands of modern communication technologies.

In August 2023, Marvell introduced 800Gb/s DSP for the pluggable modules, which allow the Orion-based modules to transfer the data at a faster rate in remote areas.

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Increasing demand for cloud-based infrastructure, rising use of social media platforms, and significant usage of DSPs in several consumer electronics such as mobile and high-end audio equipment propel the growth of the digital signal processor market. Furthermore, exceptional control over audio signals in the digital domain, precise adjustments, and precise algorithms make digital signal processor a crucial component of audio devices. Specialized installations for large venues, corporations, education, and hospitality are being introduced to choose the appropriate typology for any installation.

In February 2024, Harman Professional Solutions introduced its new open architecture digital signal processing platform called BSS Soundweb Omni Series. The platform can combine a library of processing objects, including media playback, AEC, VoIP, and more.   

Digital Signal Processor Market Report Highlights

• The multi-core DSPs segment, based on core, dominated the digital signal processor market in 2024, owing to high parallel signal processing and complex DSP algorithms.
• By application, the audio signal processing segment is expected to witness significant growth during the forecast period due to rising demand for consumer electronics
• In terms of end-use industry, the healthcare segment led the market with the largest revenue share in 2024 due to significantly enhancing medical devices and diagnostic techniques.
• Asia Pacific held the dominant position in 2024, owing to significant growth and advancement in 5G technology across the region.
• Texas Instrument Incorporated, Analog Devices Inc., NXP Semiconductors, Infineon Technologies AG, Broadcom Inc., STMicroelectronics, ONsemi, Asahi Kasei Corporation, Qualcomm Technologies Inc., Rockwell Automation Inc. are among the global market players.

Polaris Market Research has segmented the DSP market report on the basis of core, configuration, type, category, IC design, application, end-use industry, and region:

By Core Outlook (Revenue - USD billion, 2020 - 2034)

• Single-Core DSPs
• Multi-Core DSPs

By Configuration Outlook (Revenue - USD billion, 2020 - 2034)

• Low-end DSP
• Mid-range DSP
• High-end DSP

By Type Outlook (Revenue - USD billion, 2020 - 2034)

• General-purpose DSPs
• Application-specific DSPs
• Programmable DSP

By Category Outlook (Revenue - USD billion, 2020 - 2034)

• Fixed Point
• Floating Point

By IC Design Outlook (Revenue - USD billion, 2020 - 2034)

• Standard
• Embedded

By Application Outlook (Revenue - USD billion, 2020 - 2034)

• Audio processing
• Video Processing
• Image Processing
• Speech Processing & Recognition
• Radar Systems
• Communication Systems
• Others

By End-use Industry Outlook (Revenue - USD billion, 2020 - 2034)

• Consumer Electronics
• Automotive
• Industrial Automation
• Communication & Networking
• Healthcare
• Aerospace & Defense
• Others

By Regional Outlook (Revenue - USD billion, 2020 - 2034)

• North America

• US
• Canada

• Europe

• Germany
• France
• UK
• Italy
• Spain
• Netherlands
• Russia
• Rest of Europe

• Asia-Pacific

• China
•  Japan
•  India
•  Malaysia
•  South Korea
• Indonesia
• Australia
• Vietnam
•  Rest of Asia-Pacific

• Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of Middle East & Africa

• Latin America

• Mexico
• Brazil
• Argentina
• Rest of Latin America

Digital Signal Processor Market Report Scope