Audio DSP Market to Reach $23.43 Bn, Globally, by 2027 at 9.3% CAGR: Allied Market Research

- Advantages of compound semiconductors over silicon-based technology, rise in demand for compound semiconductor epitaxial wafer in LED technology, and developing trends toward compound semiconductor wafers in the automotive industry drive the global Audio DSP market.

PORTLAND, Ore., March 11, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Audio DSP Market By Type (Discrete and Integrated) and End Use (Computer, Phones, Tablets, Over-Ear Headphones, TWS, Home Entertainment, Commercial, Automotive, Portable, Smart Home, IoT, Wearable, and AR/VR): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global audio DSP industry generated $11.06 billion in 2019, and is projected to garner $23.43 billion by 2027, witnessing a CAGR of 9.3% from 2020 to 2027.

Drivers, restraints, and opportunities

Advantages of compound semiconductors over silicon-based technology, rise in demand for compound semiconductor epitaxial wafer in LED technology, and developing trends toward compound semiconductor wafers in the automotive industry drive the global Audio DSP market. However, high-cost related to compound semiconductor materials and components hinders the market growth. On the other hand, emerging usage of compound semiconductors in smart technologies create new opportunities in the coming years.

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Covid-19 Scenario

• Global lockdown has immensely impacted the market with major loss of business and revenue, owing to shutdown of manufacturing units in the region.
• However, the government bodies in various regions have now issued several relaxations on the current regulations, thereby allowing the industries to reinitiate their businesses. This is anticipated to aid the Audio DSP market to recoup soon.

The integrated segment to continue its leadership status throughout the forecast period

Based on type, the integrated segment contributed to the highest market share, accounting for more than four fifths of the global audio DSP market in 2019, and will continue its leadership status throughout the forecast period. This is due to high demand for consumer electronics. However, the discrete segment is expected to manifest the fastest CAGR of 12.6% from 2020 to 2027, owing to increasing trends towards standalone manufacturing.

The phone segment to maintain its lead position during the forecast period

Based on end-use, the phone segment accounted for the largest share in 2019, holding nearly half of the global audio DSP market, and is projected to maintain its lead position during the forecast period. This is attributed to increasing demand for smartphones in developing economies. On the other hand, the smart home segment is expected to witness the fastest CAGR of 15.1% from 2020 to 2027. This is attributed to increasing trends towards smart infrastructures.

Asia-Pacific, followed by North America, to dominate the market throughout the forecast period-

Based on region, Asia-Pacific, followed by North America held the largest share in terms of revenue in 2019, accounting for nearly half of the global Audio DSP market, and will maintain its dominance in terms of revenue by 2027. In addition, the region is projected to witness the fastest CAGR of 10.6% during the forecast period. This is attributed to high demand for consumer electronics in the region due to large population.

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Leading market players

• Renesas Electronics
• Xilinx Incorporated
• Toshiba Corporation
• LSI Corporation
• CEVA Incorporated
• Texas Instrument
• Altera Corporation
• NXP Semiconductors
• Broadcom Corporation
• Analog Devices

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