Vision Processing Unit Market is Expected to Grow USD 4.65 Billion at a 18.70% CAGR by 2030- Report by Market Research Future (MRFR)

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New York, US, April 27, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Vision Processing Unit Market Research Report: By Type and By End User  – Forecast to 2030, the market is anticipated to acquire a valuation of approximately USD 4.65 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 18.70% during the assessment timeframe.

Key Players

Some of the key players operating in the vision processing unit market include-

• NVIDIA Corporation,
• Intel Corporation,
• Qualcomm Technologies, Inc.,
• Advanced Micro Devices, Inc.,
• MediaTek Inc., CEVA, Inc.,
• VeriSilicon Holdings Co., Ltd.,
• Movidius, Inc.,
• Imagination Technologies Limited,
• Xilinx, Inc.

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Report Scope:

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Drivers

The growth of the vision processing unit market can be attributed to the increasing demand for artificial intelligence (AI) and machine learning (ML) technologies in various applications, including autonomous vehicles, drones, and robotics. The rise of edge computing and the need for low-power and high-performance computing solutions are also driving factors for the growth of the market.

Challenges

However, the vision processing unit market faces several challenges, including the lack of standardization in the market and the high cost of development and deployment of vision processing units. The lack of skilled professionals to develop and implement vision processing unit technology is also a challenge that needs to be addressed.

Market Segmentation

The global vision processing unit market is segmented by application, vertical, and region. By application, the market is segmented into drones, robotics, autonomous vehicles, surveillance, and others. By vertical, the market is segmented into automotive, aerospace & defense, healthcare, consumer electronics, and others.

Regional Analysis

The global vision processing unit market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific region is expected to dominate the market during the forecast period due to the increasing demand for autonomous vehicles, drones, and robotics in the region.

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Industry Trends

One of the key trends in the vision processing unit market is the increasing use of AI and ML technologies to enable real-time decision making in various applications such as autonomous vehicles and drones. Another trend is the integration of vision processing units with other sensors such as LiDAR and radar to enhance sensing and perception capabilities.

Recent Developments and Opportunities

In recent years, several developments have been made in the vision processing unit market. For instance, in February 2022, Intel Corporation announced the launch of its new vision processing unit, the Intel Movidius Myriad X2, which offers improved performance and power efficiency. Similarly, in October 2021, NVIDIA Corporation announced the launch of its new vision processing unit, the NVIDIA Jetson AGX Xavier NX, which offers AI performance at the edge.

There are several opportunities in the vision processing unit market, including the increasing demand for low-power and high-performance computing solutions, the integration of vision processing units with other sensors to enhance sensing and perception capabilities, and the development of standardization in the market.

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In conclusion, the vision processing unit market is expected to grow rapidly in the coming years due to the increasing demand for AI and ML technologies in various applications. However, the market also faces several challenges that need to be addressed. The integration of AI and ML technologies and the development of standardization in the market present significant opportunities for the growth of the market.

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