Spettacolo
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. 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.
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.
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.
Based on region, Asia-Pacific , followed by North America held the 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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