According to a new market report published by Transparency Market Research entitled “Vision Processing Unit Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025”, the global Vision Processing Unit market was valued at US$ 148.9 Mn in 2016 and is expected to expand at a CAGR of 16.93% from 2017 to 2025, reaching US$ 605.4 Mn by the end of the forecast period.
The Vision Processing Unit (VPU) market is primarily driven by the increasing adoption of machine vision systems across wide range of industry verticals including consumer electronics, automotive, healthcare, and manufacturing among others. Various robots having vision capabilities are increasingly being implemented across the manufacturing and automobile industries for various purposes which include inspection of the products, quality check, assisting in the various stages of production, and security and surveillance among others.
Furthermore, the growing developments in the automobiles particularly, the autonomous vehicles is anticipated to impact the market positively. Machine Vision systems are used in the automobiles as a part of advanced driver assistance system (ADAS) which leads to improved safety while travelling. Additionally, the advent of Artificial Intelligence (AI) and machine learning technologies required to program the systems is expected to assist the growth of the market. The implementation of vision processing units across all the above mentioned applications will result in high quality of images and ensure the better performance of the system. Vision processing units also are increasingly being used in smartphones for giving an exceptional photography experience to the user. The use of VPU in smartphones results in low consumption of power and increased battery life.
The key trends prevalent in the Vision Processing Unit market are the strategic alliances of established as well as small players with their peers in the semiconductor segment in order to establish footprint in the vision processing and machine vision space and gain greater share globally. Many developments are taking place in the automobile industry for making the automobiles smarter which will drive the growth of Vision Processing Unit market. Also, major players in the electronics space are working for the innovation and development of technologically advanced products for better efficiency, operation and reliability of the systems in which they are implemented.