DUBLIN--(BUSINESS WIRE)--The "Vision Processing Unit Market by 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" report has been added to ResearchAndMarkets.com's offering.
VPU market gaining traction mainly due to increasing machine vision applications across different verticals
The overall VPU market is expected to grow from USD 606.9 million in 2018 to USD3,165.2 million by 2024; it is estimated to grow at a CAGR of 18.69% during the forecast period.
Various market segments covered in this report include end-use application, vertical, fabrication process, and region. It also provides a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW.
Samsung (South Korea), Movidius (US), Cadence (US), CEVA (US), NXP (Netherlands), HiSilicon Technologies (China), Google (US), MediaTek (Taiwan) are among the leading players in the VPU market.
VPU market to grow at 18.69% CAGR from 2018 to 2024
The need for VPUs is mainly governed by the increasing adoption of premium smartphones, growing adoption of edge AI, rising demand for high-end computing capabilities for computer and machine vision. However, the availability of CPUs and GPUs with high capabilities can hinder the adoption of VPUs.
VPU market for AR/VR to grow at highest CAGR during forecast period
The increasing awareness regarding the benefits of implementing this technology such as increased interaction, richer user experience, and engagement of virtual information in the real world in AR/VR applications is fueling this market. The growing interest of technology giants in emerging technologies, such as AR/VR, has been one of the major factors driving the growth of the market for AR/VR applications. For example, in June 2016, Movidius (US) partnered with Lenovo (Hong Kong) to provide Myriad 2 VPU and custom computer vision algorithms for various VR products of Lenovo.
Consumer electronics to hold largest size of VPU market during forecast period
Increasing deployment of VPUs in smartphones, VR products, drones, etc., is driving the VPU market for consumer electronics. Continuous innovations in these products, bringing advanced features and functionalities, contribute to their growing adoption. Need to bring sophisticated products with improved consumer experience and advanced functionalities drive the adoption of VPUs by OEMs.
APAC to record highest CAGR in VPU market during forecast period
Smartphones, drones, industrial robots, and automotive, among other applications, hold huge growth potential for VPU providers in APAC. The leading drone manufacturers and smart camera providers, integrating VPUs in their products, are based in APAC. For instance, DJI (China) introduced ultracompact Spark mini-drone and Phantom 4 Drone integrated with Intel Movidius Myriad 2 VPUs. In January 2018, Ryze, a China-based drone startup, launched Tello, a toy drone enabled with cutting-edge technologies from drone experts such as DJI and Intel.
- Increasing Adoption of Premium Smartphones
- Growing Adoption of Edge AI
- Rising Demand for High-End Computing Capabilities for Computer & Machine Vision
- Availability of CPUS and GPUS With High Capabilities
- Emergence of Autonomous Cars
- High Requirement of Machine Vision in Industrial Applications
- Technological Challenges in Chip Development & Manufacturing
- Hisilicon Technologies (Huawei)
- Imagination Technologies
- Lattice Semiconductor
- NXP Semiconductor
- Texas Instruments
- Thin Ci
For more information about this report visit https://www.researchandmarkets.com/r/qdzqzd