iCrowdNewswire Jan 13, 2021 4:00 AM ET
The Global Vision Processing Unit Market is slated to grow from USD 1.4 billion in 2018 to a anticipated USD 3.8 Billion by 2025 at an impressive CAGR of 20%.
Increasing demand for energy-efficient compressors, increasing energy consumption and expanding liquefaction facilities globally are key drivers of the industrial air compressor market. Around 70 per cent of manufacturers use compressed air for safety and convenience in machine tools, spray painting, material handling and separation equipment. These compressors can also work in places where fire hazards and explosions are restricting other forms of energy, and rising demand for high-end computing capabilities for computer and machine vision. The rising security concerns around the globe and the increasing use of advanced high-power processors for real-time monitoring are some other factors driving demand for advanced VPU-integrated surveillance cameras. Smart surveillance cameras can share only short videos, even after detecting serious threats requiring human involvement. VPU implementation allows cameras to intelligently identify threats by avoiding false positives, which ensure smooth sharing of data. Increasing demand for premium smartphones due to advanced features such as greater security, low latency, faster computing and less connectivity are likely to boost the adoption of dedicated AI chips.
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The Vision Processing Unit Market is driven primarily by the growing proliferation of premium smartphones, growing edge AI adoption and the demand for computer and machine vision high-end computing capabilities. Increasing demand for premium smartphones is likely to boost the adoption of dedicated AI chips due to advanced features such as low latency, higher security, faster computing and less reliance on connectiveness. Increasing awareness of ensuring public safety through effective supervision drives the need for real-time monitoring and high capacity for processing. VPUs play a vital role in evaluating the photos and videos collected to provide impeccable details for precautionary acts.
By type, the market has been segmented into drones, ADAS, smartphones, cameras, AR/VR, robotics, and wearables.
By end users, the market are automotive, consumer electronics, security and surveillance, and others.
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The geographical overview of the global vision processing unit market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
North America, being an early adopter of emerging technology, has incorporated the AI-enabled products in the current IoT system network. The area has enormous potential for growth for luxury goods such as smartphones, and the use of drones and cameras for surveillance applications. In addition , the rise in the use of VPUs in unmanned aerial vehicles ( UAVs), security and surveillance cameras, and automobiles, among other areas of application, is driving market growth in North America. Growing demand for specialized VPUs, robust technology infrastructures and a manufacturing-friendly economy of this device ensure the dominance of the regional market during the forecast period.
Although not as economically viable as its North American counterpart, the European market invests more in integrating the current technology with vision processing units, leading to the manufacture of these devices for use by companies.
Asia-Pacific, a fast-growing market, is the world’s leading smartphone producer, where vision processing units are increasingly being used to boost the end product’s value.
Samsung Electronics Co. Ltd (South Korea), Movidius (US), Cadence Design Systems, Inc. (US), CEVA, Inc. (US), Texas Instruments (US), Lattice Semiconductor (US), NXP Semiconductor (Netherlands), HiSilicon Technologies (China), Alphabet, Inc. (US), MediaTek Inc. (Taiwan), and Inuitive (Israel).
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