Vision Processing Unit Market Forecast
The global vision processing unit market is expected to grow from USD 1.4 billion in 2018 to a projected USD 3.8 billion by 2025at an impressive CAGR of 20%.
Market Synopsis
Vision processing units (VPUs) are a subset of microprocessors that ease the energy and time requirements of CPUs by taking on the tasks of video streaming and image processing. The technology is relatively new, but due to the increasing demand for integrated technology platforms and need for performance enhancement, while lowering costs, the global vision processing unit market is expected to grow at a phenomenal rate.
Market USP
A focus on microprocessor technology has led to the development of specialized chips such as VPUs.
Regional Market Analysis
North America
The North American vision processing unit market is currently the largest. The players in North America have been pioneers of VPU technology and are focused on specialization to compete with low-cost manufacturers in Asia-Pacific. The North American market is slated to maintain its lead for the duration of the forecast period.
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1. US: The presence of companies such as Movidius, Cadence Design Systems Inc., Texas Instruments, and Lattice Semiconductor in the US makes the country-level market the leader in the global vision processing unit market. An open economy, excellent R&D infrastructure, and high demand for VPUs are some of the factors driving the growth of the country-level market. High manufacturing costs and a focus on state-of-the-art VPUs over robust and low-cost models are expected to restrain the growth for the market. However, this may be offset by the emerging ADAS, drone, and other allied markets which would ensure steady demand for top-end VPUs.
2. Canada: The Canadian market for VPUs is poised to grow, albeit at a smaller scale than its US counterpart. The growth of the market can be attributed to reduced market competition and government focus on promoting manufacturing.
Europe
The demand for VPUs in Europe is fulfilled by the significant manufacturing base in the. Market players in Europe emphasize quality over quantity, which is driving innovation.
1. Germany: Germany is one of the largest markets for VPUs in Europe and the country is a hub for manufacturing. This is due to the presence of favorable labor laws and an emphasis on quality control in the country. Companies such as NXP Semiconductors, which is headquartered in the Netherlands, have manufacturing bases in Germany, which is driving innovation.
2. France: The vision processing unit market in France is slated to grow during the forecast period. These devices are widely used in the AI-enabled products manufactured in the country. However, manufacturing in France is limited due to the country’s strict labor laws, which restrains market growth.
3. UK: A high demand for the latest surveillance equipment boosts innovation and drives the growth of the vision processing unit market in the country. Consequently, players in the UK fulfill the majority of the demand for VPUs in surveillance applications across Western Europe.
Asia-Pacific
The market in Asia-Pacific is slated to be the fastest-growing during the forecast period. This is largely due to the regional smartphone market being the largest in the world and the widespread use of VPUs in the manufacturing of smartphones. Lower manufacturing costs than in Europe or North America are further expected to drive the growth of the market in Asia-Pacific.
1. China: The country has one of the largest shares of the VPU market in Asia-Pacific due to the widespread use of VPUs in the country’s extremely large consumer electronics market. The only factor limiting the growth of the country-level market is government policy discouraging international companies from utilizing the pro-manufacturing economic landscape.
2. Japan: The demand for ADAS and surveillance devices is rising in Japan, driving the growth of the vision processing unit market in the country. The presence of well-established ancillary industries, such as co-fired ceramics which are essential to the production of quality VPUs, is also driving the growth of the market.
3. South Korea: The growth of the South Korean market is fueled by the presence of Samsung, the world leader in mass-produced VPU-integrated processors, and the country’s robust consumer electronics manufacturing industry. Intense competition from Japan and the US is propelling the R&D of VPUs, which also serves to enhance the overall market growth in the country.
4. India: India is fast emerging as a global hub for the manufacture of smartphones, with current manufacturing costs undercutting China as well. This, along with the growing demand for consumer electronics in the country, is fueling the growth of the vision processing unit market in India. Government initiatives to boost the technology sector and low labor costs are expected to further drive market growth.
Key Players
1. Samsung Electronics Co. Ltd (South Korea): The highly regarded Exonys 9 series, released by Samsung in the first quarter of 2019, finds application in smartphones and automobiles.
2. Movidius (US): A subsidiary of Intel Corporation, Movidius launched the Movidius Myriad 2 VPU specifically for power-constrained devices in early 2018.
3. Cadence Design Systems, Inc. (US): Geared toward making vision processing units for AI applications.
4. CEVA, Inc. (US): The CEVA XM 4 is ideal for high performance/low-energy applications and is programmable in high-level computer languages.
5. Texas Instruments (US): The Jacinto TDAx Driver Assistance SOC is specifically geared for the automotive industry and boasts a highly scalable architecture.
6. Lattice Semiconductor (US): Excellent flexibility and efficiency are the benchmarks of the chipsets made by the company.
7. NXP Semiconductor (Netherlands): The S32V234 MPU processor comes with its own supporting compiler, debugger, and other graph tools.
8. HiSilicon Technologies (China): The Kirin 980 series is the fastest and highest-performing processor and finds utility in high-end smartphones and electronics.
9. Alphabet, Inc. (US): The company offers a wide range of processors catering to niche requirements.
10. MediaTek Inc. (Taiwan): Striking a balance between programmability and performance for smartphone cameras, the Tensilica VPU reduces the load on the CPU and GPU.
11. Inuitive (Israel): The company manufactures VPUs for use in medical devices.
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The report "Vision Processing Unit Market End-Use Application (Smartphones, ADAS, Camera, Drones, AR/VR Products), Vertical (Consumer Electronics, Automotive, Security and Surveillance), Fabrication Process and Geography – Global Forecast to 2024", is estimated to grow from USD 1.3 billion in 2019 to USD 3.2 billion by 2024; it is expected to grow at a CAGR of 18.7%.
The market is mainly driven by the increasing adoption of premium smartphones, growing adoption of edge AI, and rising demand for high-end computing capabilities for computers and machine vision.
Increasing demand for premium smartphones due to the advanced features such as higher security, low latency, faster computing, and less reliance on connectivity is likely to boost the adoption of dedicated AI chips.
VPUs play a critical role in analyzing the captured images and videos to provide flawless information for precautionary actions.
North America to hold largest size of Vision Processing Unit Market during forecast period Being an early adopter of new technologies, North America has been adopting the AI-enabled products in the existing infrastructure of IoT devices.
Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients.
Vision Processing Unit Market GrowthThe global vision processing unit market 2020 is assessed to gain a quick mileage.
Increasing advancements in technology are supposed to impact the market’s growth curve favorably in the foreseeable future.
Rising demand for advanced security and surveillance is also assessed to catapult the vision processing unit market on upward trajectory.
This factor is supposed to boost proliferation of the vision processing unit market in the upcoming years.The advancements in microprocessor manufacturing are likely to reduce the cost of video processing units.
However, complexities in integration are prognosticated to restrain the growth of the vision processing unit market in the foreseeable future.Market SegmentationOn the basis of type, the vision processing unit market has been segmented into ADAS, drones, AR/VR, cameras, wearables, smartphones, and robotics.
Among these, the drones segment is assessed to hold a significant share of the market.
Vision Processing Unit Market ReportThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Vision Processing Unit Market Report.
The growth sectors of the Vision Processing Unit Market Report are identified with precision for a better growth perspective.The global vision processing unit market 2020 is assessed to gain a quick mileage.
Increasing advancements in technology are supposed to impact the market’s growth curve favorably in the foreseeable future.
Rising demand for advanced security and surveillance is also assessed to catapult the vision processing unit market on upward trajectory.
This factor is supposed to boost proliferation of the vision processing unit market in the upcoming years.The advancements in microprocessor manufacturing are likely to reduce the cost of video processing units.
However, complexities in integration are prognosticated to restrain the growth of the vision processing unit market in the foreseeable future.Market SegmentationOn the basis of type, the vision processing unit market has been segmented into ADAS, drones, AR/VR, cameras, wearables, smartphones, and robotics.
