Global Audio DSP Market To Be Driven Growing Application In Consumer Electronics In The Forecast Period Of 2022-2027

Market Overview (2017-2027)

•    Forecast CAGR (2021-2027): 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.

•    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.

The Audi DSP market, on the basis of technology, can be segmented into:

•    Discrete
•    Integrated

On the basis of end-use, the market can be categorised into:

•    Computer
•    Phones
•    Tablets
•    Over-Ear Headphones
•    TWS
•    Home Entertainment
•    Commercial
•    Automotive
•    Portable
•    Smart Home
•    IOT
•    Wearable
•    AR/VR

The regional markets for Audio DSP include:

•    North America
•    Europe
•    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.

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.