Market Size of Europe Digital Signal Processor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Digital Signal Processor Market Analysis
Europe digital signal processor market is valued at USD 863.55 million in the current year. It is expected to grow at a CAGR of 7.1% during the forecast period to become USD 1180.89 million by the next five years.
Europe's digital signal processor market is anticipated to grow significantly due to the excessive usage of digital signal processor chips in consumer electronics. Several consumer electronics, such as mobile phones, have become a major requirement and have observed a considerable user surge.
Smartphones are popular among customers in the mobile phone industry. In 2021, 474 million people (86% of the population) in Europe subscribed to mobile services, and this figure is expected to rise to 480 million by 2025. Mobile devices are the most common users of digital signal processors, and their continued growth is expected to increase the market size for digital signal processors during the forecast period.
Furthermore, increased data traffic and technologies such as Internet Protocol (IP) cameras for video surveillance are expected to drive up European product demand. Furthermore, because of its cost advantages, digital signal processing has emerged as the dominant technology for developing high-performance communication systems.
However, due to challenging real-time constraints, performance has always been the most critical parameter for comparing digital signal processor quality over the last two decades. Power consumption and cost have become critical parameters when selecting a digital signal processor due to the rapid migration of digital signal processors from military applications to low-cost applications in portable devices such as laptops, smartphones, and CD players.
Furthermore, COVID-19's impact on the digital signal processor has been moderate. Furthermore, the pandemic altered perceptions of the current global supply chain in manufacturing, potentially leading to more localized value chains and further regionalization in the near future to minimize similar risks.
