Vision Processing Unit Global Market Expected to Witness $5.54 Billion with Impressive Growth at a 17.5% CAGR By 2028 | Google LLC, Intel Corporation, MediaTek Inc., Renesas Electronics, Synopsys Inc.

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 growth in the historic period can be attributed to growth in computer vision applications, increase in demand for image and video processing, rise in artificial intelligence applications, expansion of autonomous vehicles.

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 growth in the forecast period can be attributed to integration of vision processing units in edge devices, expansion of augmented reality (ar) applications, growth in demand for advanced driver-assistance systems (adas), adoption of vision processing units in robotics, increased use in smart surveillance systems. Major trends in the forecast period include miniaturization of vision processing units, development of energy-efficient processing architectures, integration of ai accelerators in vision processing, rise of real-time image and video analytics, adoption of neural processing units.

Market Overview -
A vision processing unit (VPU) is a microprocessor designed to speed up machine learning and artificial intelligence technologies. It is a specialized processor designed to manage tasks like image processing. VPUs are utilized in many applications, including object identification, picture recognition, and computer vision.

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Smartphone Boom Fuels Surge In Vision Processing Unit Market
An increase in smartphone adoption is expected to propel the growth of the vision processing unit market going forward. A smartphone refers to a cellular phone with a built-in computer and other functionality not previously present in phones, such as an operating system (OS), web browsing, and the ability to run software programs. The vision processing unit aids in enhancing features like facial recognition and gesture control on smartphones. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. Further, by 2025, there will be 68.3 million people living in the UK, of whom 95% (or about 65 million people) are expected to have smartphones. Therefore, the increase in smartphone adoption is driving the growth of the vision processing unit market.

Competitive Landscape -
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

Revolutionizing High-Performance Video Processing And Analytics
Product innovation is a key trend gaining popularity in the vision processing unit market. Major companies operating in the vision processing unit market are introducing innovative products to maintain their position in the market. For instance, in March 2023, Hailo, an Israel-based semiconductor manufacturing company, launched Hailo-15, a new vision processor unit for smart cameras at the edge. The vision processor offers high-performance video processing and analytics at the border and has numerous applications in manufacturing, smart cities, and retail settings. The onboard system-on-chip can execute up to 20 trillion operations per second while running cutting-edge deep learning models that enable AI inference using a neural network core. The YoloV5M6 object detection model can be processed by the HailoV15H chipset, a variant of the HailoV15 vision processor chipset with the highest performance metrics at a real-time sensor rate.

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Key Segments -
The vision processing unit market covered in this report is segmented -
1) By Fabrication Process: Less Than Or Equal To 16 NM, More Than 16 To 28 NM
2) By Application: Smartphones, Medical Devices, Digital Cameras, Drones, Robots, Autonomous Vehicles, Wearable Devices
3) By Vertical: Consumer Electronics, Automotive, Industrial, Healthcare, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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