Vision Processing Unit Market by Vertical (Consumer Electronics, Automotive, Security and Surveillance), Fabrication Process and Geography – Global Forecast to 2024
The vision processing unit (VPU) market is expected to grow from USD 1.3 billion in 2019 to USD 3.2 billion by 2024 at a CAGR of 18.7%. Major factors driving the market growth include increasing adoption of premium smartphones, growing adoption of edge AI, and rising demand for high-end computing capabilities for computer and machine vision.
The emergence of autonomous cars and the high requirement of machine vision in industrial applications are key growth opportunities for the VPU market. However, the availability of CPUs and GPUs with high capabilities in the market inhibits the growth of this market. The market players mainly face technological challenges in chip development and manufacturing.
The VPU market for AR/VR application is expected to witness the highest CAGR during the forecast period. The increasing awareness regarding the benefits of implementing this technology—such as increased interaction, richer user experience, and engagement of virtual information in the real world—in AR/VR applications is fueling the growth of this market. The growing interest of technology giants in emerging technologies, such as AR/VR, has been one of the major factors driving the growth of the VPU market for AR/VR applications. Companies can collaborate with AR/VR product developers to address specific requirements and emerge in this segment.
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In application, the security & surveillance market is expected to have the highest CAGR during the forecast period. Increasing awareness about ensuring public safety through effective surveillance drives the need for real-time monitoring and high processing capabilities for intelligent vision analysis. VPU plays a critical role in analyzing the captured images and videos to provide flawless information for precautionary actions. VPU companies can help the smart camera companies to understand the trends and shifts in security with the use of computer vision as VPUs enable smart visioning in smart cameras.
APAC is expected to be the fastest-growing region in the market during the forecast period. This market is further segmented into China, Japan, South Korea, India, and Rest of APAC. In APAC, applications such as smartphones, drones, industrial robots, and automotive hold huge growth potential for the VPU providers. The market growth in this region is attributed to the presence of various AI processor start-ups, which are likely to provide significant growth opportunities to the VPU companies in the near future. Moreover, the leading drone manufacturers and smart camera providers integrating VPUs in their products are also based in APAC.
With several industrial developments, autonomous cars are becoming a prominent future technology. A self-driving or driverless car is a vehicle that has the ability to guide itself with little or no human intervention. The vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connections in autonomous vehicles enable the driverless cars to gain real-time information about the conditions of the roads. The improvement of machine vision capabilities, which play a major role in advanced driver assistance system (ADAS), has been a key focus in the process of developing autonomous cars.
VPUs, being an exclusive processor that is particularly made to boost the vision analysis along with providing high power efficiency and performance, find applications in machine vision systems deployed in automotive electronics.
The emergence of autonomous cars and the high requirement of machine vision in industrial applications are key growth opportunities for the VPU market. However, the availability of CPUs and GPUs with high capabilities in the market inhibits the growth of this market. The market players mainly face technological challenges in chip development and manufacturing.
The VPU market for AR/VR application is expected to witness the highest CAGR during the forecast period. The increasing awareness regarding the benefits of implementing this technology—such as increased interaction, richer user experience, and engagement of virtual information in the real world—in AR/VR applications is fueling the growth of this market. The growing interest of technology giants in emerging technologies, such as AR/VR, has been one of the major factors driving the growth of the VPU market for AR/VR applications. Companies can collaborate with AR/VR product developers to address specific requirements and emerge in this segment.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=42154849
In application, the security & surveillance market is expected to have the highest CAGR during the forecast period. Increasing awareness about ensuring public safety through effective surveillance drives the need for real-time monitoring and high processing capabilities for intelligent vision analysis. VPU plays a critical role in analyzing the captured images and videos to provide flawless information for precautionary actions. VPU companies can help the smart camera companies to understand the trends and shifts in security with the use of computer vision as VPUs enable smart visioning in smart cameras.
APAC is expected to be the fastest-growing region in the market during the forecast period. This market is further segmented into China, Japan, South Korea, India, and Rest of APAC. In APAC, applications such as smartphones, drones, industrial robots, and automotive hold huge growth potential for the VPU providers. The market growth in this region is attributed to the presence of various AI processor start-ups, which are likely to provide significant growth opportunities to the VPU companies in the near future. Moreover, the leading drone manufacturers and smart camera providers integrating VPUs in their products are also based in APAC.
With several industrial developments, autonomous cars are becoming a prominent future technology. A self-driving or driverless car is a vehicle that has the ability to guide itself with little or no human intervention. The vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connections in autonomous vehicles enable the driverless cars to gain real-time information about the conditions of the roads. The improvement of machine vision capabilities, which play a major role in advanced driver assistance system (ADAS), has been a key focus in the process of developing autonomous cars.
VPUs, being an exclusive processor that is particularly made to boost the vision analysis along with providing high power efficiency and performance, find applications in machine vision systems deployed in automotive electronics.
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Suite 430
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USA : 1-888-600-6441
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