Vision Processing Unit Market by Application (Drones, Surveillance Cameras, Autonomous Vehicles, Smartphones, Wearable Devices, Domestic & Commercial Robots), Vertical (Consumer, Industrial, Automotive), and Geography - Global Forecast to 2023
“Vision processing unit market expected to grow at a CAGR of 41.26% between 2018 and 2023”
The vision processing unit market is estimated to grow from USD 168.2 million in 2018 to USD 946.0 million by 2023, growing at a CAGR of 41.26% between 2018 and 2023. The growth of this market is mainly driven by the increasing demand for high computational capability, growing demand for computer vision applications, rising adoption of artificial intelligence and machine learning technologies, and rising need for ASICs. There has been considerable growth in the demand for small and power-efficient vision processors that can be used in small devices and are capable of processing complex algorithms at the source of generation of data itself. The capacity of real-time decision-making would reduce the dependence on the connectivity and cloud for complex and faster decision-making, ideal for applications such as drones, autonomous vehicles, and surveillance cameras. The major restraint for the vision processing unit market growth is the high capability of GPUs and CPUs for industrial vision systems.
“Automotive vertical expected to grow at the fastest rate in the vision processing unit market”
The market for the automotive vertical is expected to grow at the fastest rate in the near future. The automotive vertical is more inclined toward mass production, mass marketing, and mass consumption to gain a competitive advantage over peers. VPUs have been gaining momentum in the automotive sector due to the increasing integration of VPUs in advanced driver assistance systems (ADAS) that help automate, adapt, or enhance automotive vehicles to increase safety and enhance the driving experience.
“Market in APAC likely to grow at the highest rate during the forecast period”
APAC expected to grow at the highest CAGR between 2018 and 2023. APAC is one of the largest markets for smartphones, surveillance cameras, and wearable devices, and vision processing units are integrated with these devices to accelerate machine vision their tasks. The increasing adoption of autonomous vehicles, drones, and wearable devices in North America is expected to the drive the market for VPUs in the region. The UK and Germany are the major contributors to the growth of the vision processing unit market in Europe as this region is one of the largest markets for drones, autonomous vehicles, and commercial robots.
Breakdown of the profiles of primary participants:
• By Company: Tier 1 = 55 %, Tier 2 = 30%, and Tier 3 = 15%
• By Designation: C-Level Executives = 50%, Directors = 25%, and Managers = 25%
• By Region: North America = 35%, Europe = 25%, APAC = 30%, and RoW = 10%
The major players profiled in this report are as follows:
• MediaTek (Taiwan)
• Cadence Design Systems (US)
• CEVA (US)
• Synopsys (US)
• Movidius (US)
• Inuitive (Israel)
• Lattice Semiconductor (US)
• VeriSilicon (China)
• Imagination Technologies (UK)
In this report, the vision processing unit market has been segmented on the basis of application (drones, surveillance cameras, autonomous vehicles, smartphones, digital cameras, domestic and commercial robots, and wearable devices), by vertical (aerospace and defense, consumer, commercial, healthcare, and automotive), and geography. The study also covers the forecast of the market sizes for 4 main regions—North America, Europe, APAC, and RoW.
Reasons to buy the report
The report would help the market leaders/new entrants in this market in the following ways.
1. This report segments the vision processing unit market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different verticals and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities related to the market.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, product launches and developments, and agreements and collaboration carried out in the market.