Vision Processing Unit Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Vision processing units are low power, high performance microprocessors that enhance computer vision and increase machine intelligence. The vision processing unit is an artificial intelligence technology which increase the intelligence and vision of a machine. Vision processing unit analysis the data from cameras to provide useful insights to the computer. Wearable devices are becoming an integral part of modern lives. Very low power, high performance vision processing units can be installed in wearable devices, which is expected to increase the functionality and benefits of wearable devices. Rise in defense expenditure by governments across the globe, especially in unmanned aerial reconnaissance and warfare is increasing the demand for vision processing units in the defense sector. Furthermore, U.S.-based global defense manufacturer, Lockheed Martin has developed a vision processing unit that is capable of taking still images and capturing videos from digital and analog video cameras.

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The global vision processing unit market can be segregated based on application, end-use industry, and geography. Based on application, the global vision processing unit market can be classified into smartphone, camera, wearable devices, robots, drones, others. The wearable device segment is expected to expand at a high CAGR during the forecast period. In terms of end-use industry, the vision processing unit market can be segregated into consumer electronics, aerospace & defense, automotive, healthcare, and others. Consumer electronics and aerospace & defense segments held a prominent share of the global vision processing unit market in 2016. Rising demand for high power wearable devices across the world, especially among millennials is fueling the demand for vision processing units to be installed in wearable devices. Additionally, wearables are compact devices, vision processing integrated circuits are low power, high performance compact devices that can fit easily in compact wearable devices. This is also expected to boost the demand for vision processing units in wearable devices. Vision processing units are widely utilized in unmanned aerial systems and vehicles.

Vision processing units are increasingly used in advanced driver assisted system, advanced autonomous or automatic emergency braking systems, and other automotive technologies. Rising demand for connected cars across the world is propelling the demand for low power, high performance vision processing units. The vision processing unit helps increase the quality of image in smartphones and other mobile phones. The vision processing unit works in conjunction with the image signal processor chip, present in a mobile phone, in order to provide superior image quality. Furthermore, rising demand for smartphones across the world is driving the demand for vision processing unit in mobiles.

In terms of geography, the global vision processing unit market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the global vision processing market during the forecast period. The vision processing unit market in North America includes the market in the U.S., Canada, and Mexico. The U.S is expected to have the largest defense budget in the world. Rise in defense expenditure by the U.S. is expected to boost the demand for vision processing units in the U.S. and other countries of North America. Europe is expected to be a major market for vision processing units during the forecast period. Asia Pacific is expected to be a prominent market for vision processing units. China, Japan, South Korea, and India are the major contributors toward the expansion of the global vision processing unit market. China is expected to have the second largest defense budget after the U.S. Rise in defense expenditure by China is expected to fuel the demand for vision process units in China. Additionally, India is another country that witnesses major expenditure on defense. Rise in defense expenditure by India is expected to increase the demand for vision processing units in India. Middle East & Africa is a significant market for vision processing units.

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Major companies operating in the global vision processing unit market include Mediatek (Taiwan) Cadence Design Systems(the U.S), CEVA (U.K), Synopsys (the U.S), Movidius (the U.S), Inuitive (China), Lattice Semiconductor (the U.S), Verisilicon (the U.S), Imagination Technologies (U.K), Lockheed Martin (the U.S), and Morpho (France) among others.

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