PUBLISHER: The Business Research Company | PRODUCT CODE: 1428063
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428063
A Vision Processing Unit (VPU) is a microprocessor specifically designed to accelerate machine learning and artificial intelligence technologies, particularly in tasks related to image processing. VPUs play a crucial role in applications such as object identification, image recognition, and computer vision.
The main types of fabrication processes for vision processing units are categorized as less than or equal to 16 nm and more than 16 to 28 nm. The technology with a fabrication process less than or equal to 16 nm includes variations such as 7 nm, 10 nm, 12 nm, 14 nm, and others. These VPUs find applications in various devices such as smartphones, medical devices, digital cameras, drones, robots, autonomous vehicles, and wearable devices. These applications span across industries, including consumer electronics, automotive, industrial, healthcare, and others.
The vision processing unit market research report is one of a series of new reports from The Business Research Company that provides vision processing unit market statistics, including vision processing unit industry global market size, regional shares, competitors with a vision processing unit market share, detailed vision processing unit market segments, market trends and opportunities, and any further data you may need to thrive in the vision processing unit industry. This vision processing unit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The vision processing unit market size has grown rapidly in recent years. It will grow from $2.43 billion in 2023 to $2.9 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The expansion observed in the historical period can be attributed to several factors, including the growth in computer vision applications, an increase in demand for image and video processing capabilities, a rise in artificial intelligence applications, and the expansion of autonomous vehicles. These developments have contributed to the heightened significance and demand for Vision Processing Units (VPUs) in various technological domains.
The vision processing unit market size is expected to see rapid growth in the next few years. It will grow to $5.54 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The anticipated growth in the forecast period for Vision Processing Units (VPUs) can be attributed to several factors, including the integration of VPUs in edge devices, the expansion of augmented reality (AR) applications, the increasing demand for advanced driver-assistance systems (ADAS), the adoption of VPUs in robotics, and the heightened use in smart surveillance systems. Noteworthy trends expected during the forecast period include the miniaturization of vision processing units, the development of energy-efficient processing architectures, the integration of AI accelerators in vision processing, the rise of real-time image and video analytics, and the adoption of neural processing units.
The growth of the vision processing unit market is anticipated to be propelled by the increasing adoption of smartphones. Smartphones, equipped with built-in computers and advanced functionalities, benefit from vision processing units (VPUs) that enhance features such as facial recognition and gesture control. According to Uswitch Limited, a UK-based financial conduct authority, mobile connections in the UK reached 71.8 million in 2022, marking a 3.8% increase from 2021. Projections suggest that by 2025, around 95% of the UK's population, approximately 65 million people, will possess smartphones. Consequently, the rising prevalence of smartphones is a significant driver of the vision processing unit market.
The emergence of 5G technology is poised to contribute to the growth of the vision processing unit market. 5G, the fifth generation of mobile networks, provides enhanced wireless communication technology with increased network capacity. This facilitates the proliferation of visual sensing devices such as smart cameras and IoT devices equipped with VPUs. Notably, North American 5G connections are expected to reach 215 million by the end of 2023, according to 5G Americas, a US-based industry trade organization. The heightened demand for consumer electronics, coupled with the capabilities of 5G, is fueling the growth of the vision processing unit market.
A key trend gaining popularity in the vision processing unit market is product innovation. Leading companies in the market are actively introducing innovative products to stay competitive. For instance, Hailo, an Israel-based semiconductor manufacturing company, launched the Hailo-15 in March 2023-a new vision processor unit designed for smart cameras at the edge. Offering high-performance video processing and analytics, the Hailo-15 finds applications in manufacturing, smart cities, and retail settings. With the ability to execute up to 20 trillion operations per second, the vision processor enables AI inference using cutting-edge deep learning models.
Major companies operating in the vision processing unit market are focused on introducing innovative solutions such as Dimensity Auto platforms to maintain their market position. These automotive platforms, introduced by companies such as MediaTek, a Taiwan-based semiconductor company, provide integrated technology solutions for various applications. The Dimensity Auto platform supports AI multi-processors, including a deep learning accelerator and a vision processing unit. It features a 3nm advanced process, low power consumption, and scalable AI processor, making it suitable for always-connected automobiles.
In June 2022, Zebra Technologies, a US-based IT services and consulting company, acquired Matrox Imaging for $875 million. This acquisition enables Zebra to diversify its product line in the rapidly growing automation and visual technology solutions market. Matrox Imaging, a Canada-based automation machinery manufacturing company, specializes in machine vision, image analysis, and medical imaging.
Major companies operating in the vision processing unit market report are Google LLC, Samsung Electronics Co Ltd., Intel Corporation, Qualcomm Incorporated., Texas Instruments Incorporated, MediaTek Inc., Renesas Electronics, Synopsys Inc., Cadence Design Systems Inc., Xilinx, HiSilicon Technologies Co Ltd., Himax Technologies, Socionext Inc., Myriad Group, Lattice Semiconductor Corp, Imagination Technologies Limited, Rockchip Electronics Co. Ltd., Thundersoft, CEVA Inc., Cambricon Technologies, Blaize Inc., Ambarella Inc., VeriSilicon Inc., Horizon Robotics, Nextchip Co Ltd., Movidius, Inuitive, NXP Semiconductors NV, Gyrfalcon Technology, Neurala Inc., Hailo Technologies
Asia-Pacific was the largest region in the vision processing unit market in 2023. The regions covered in the vision processing unit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vision processing unit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vision processing unit market consists of sales of movidius myriad 2 VPU and myriad X VPU. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vision Processing Unit Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vision processing unit market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vision processing unit ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vision processing unit market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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