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Global Audio DSP Market to Grow at a CAGR of 9.4% During 2021-2026, Aided by the Growing Application of the Product in Various End Use Sectors

According to a new report by EMR titled, ‘Global Audio DSP Market Report and Forecast 2021-2026’, the market attained a value of nearly USD 12 billion in 2020. The global audio DSP industry is further expected to grow at a CAGR of 9.4% between 2021 and 2026 to reach USD 20.6 billion by 2026.

The audio DSP industry is driven by the growing use of the product in automobiles for vehicular entertainment and the employment of DSP in various electronic items such as smartphones, laptops, tablets, and computers, among others. Audio DSPs are known to be reliable, accurate, and convenient. The growing awareness about these advantages offered by the product is likely to bolster the market in the forecast period. In addition, the market is expected to be aided by the growing adoption of the product in the consumer electronics sector.

In February 2019, Analog Devices, Inc. (NASDAQ: ADI) announced the availability of the SHARC audio module, which is a hardware platform that facilitates efficient prototyping, development, and production of various digital audio products. The SHARC audio module is known to be ideal for multi-channel audio systems, MIDI synthesisers, and many other DSP-based audio projects. This move is likely to propel the demand for audio DSP chips in these DSP-based audio projects.

In terms of region, the Asia Pacific is likely to account for a significant share in the market. This can be attributed to the technological advancements in the electronics sector in the region and the employment of DSPs in various products such as smartphones, televisions, tablets, and computers, among others. The market is expected to be aided by the growing demand for wireless connections in the region, along with the growing adoption of air pods, wireless headphones, and fire TV sticks, among others.

Market Breakup by Type, End Use, and Region:

  • The market is segmented based on type into discrete and integrated.
  • On the basis of end use, the market can be divided into computer, phones, tablets, over-ear headphones, TWS, home entertainment, commercial, automotive, portable, smart home, IOT, wearable, and AR/VR.
  • Region-wise, the global market for audio DSP can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for audio DSP is being driven by the rising application of the product in various end use sectors, including home entertainment, automotive, and smart home, among others.
  • The technological advancements in the electronics sector, coupled with the employment of audio DSP in various products, are likely to propel the market growth. 
  • The market is expected to be augmented by the growing dependence of people on smartphones and tablets, among others. 
  • The growing awareness about the reliability, accuracy, and convenience offered by the product is also aiding the market growth. 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for audio DSP for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types, end uses, and regions of audio DSP.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global audio DSP market are Analog Devices, Inc., Broadcom Inc., CEVA, Inc., Intel Corporation, NXP Semiconductors N.V., and Qualcomm Technologies, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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