HOME Press Releases Vision Processing Unit Market worth 946.0 Million USD by 2023

Vision Processing Unit Market worth 946.0 Million USD by 2023

According to the new research report "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", 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.

Browse 31 market data Tables and 34 Figures spread through 118 Pages and in-depth TOC on "Vision Processing Unit Market - Global Forecast to 2023"
Early buyers will receive 10% customization of report

The growth of this market is mainly driven by the factors such as 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.

Consumer vertical held the largest share of the vision processing unit market in 2017

The market for the consumer vertical is expected to hold the largest market share in 2017 for the vision processing unit because in the consumer segment includes lots of fast-growing applications such as smartphones, drones, and domestic robots. Smartphones, because of their high proliferation in coming years, are expected to drive the VPU market.

Market for drones expected to grow at the highest CAGR between 2018 and 2023

The vision processing unit market for drones is expected to grow at the highest CAGR between 2018 and 2023. Drones have high demand globally due to advancements in technology, and the use of AI-based VPU processors would help drones to better decision-making and reduce the risk of accidents. Industries are adopting drones, along with the existing software and patterns. Drones have several applications, such as image quality optimization, autonomous navigation, collision avoidance, terrain analysis, and subject tracking.  There is a rapid increase in the use of drones due to various reasons such as increased venture funding, rise in the demand for drone-generated data for commercial applications and rapid technological advancements. Drones are used in different verticals such as consumer, commercial, and industrial for performing various tasks.

APAC held the largest market size in 2017 and is expected to witness the highest CAGR during the forecast period

APAC held the largest size of the vision processing unit market in 2017 and is 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 their machine vision tasks.

The major players in the ecosystem of the vision processing market are MediaTek (Taiwan), Cadence Design Systems (US), CEVA (US), Synopsys (US), Movidius (US), Inuitive (Israel), Lattice Semiconductor (US), VeriSilicon (China), and Imagination Technologies (UK).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support

US : 1-888-600-6441

Search reports