Vision Processing Unit Market Size, Share, Industry Trends and Forecast to 2030

Vision Processing Unit Market Size & CAGR in 2021

The global vision processing unit market is expected to reach a market size of USD 3.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 12% from 2021 to 2026.

COVID-19 Impact on the Vision Processing Unit Market

The COVID-19 pandemic has significantly impacted the vision processing unit market. With lockdowns and restrictions affecting manufacturing facilities and supply chains, there have been delays in the production and delivery of vision processing units. However, the increased demand for automation and contactless technology in various industries has also boosted the market for vision processing units.

Vision Processing Unit Dynamics

The vision processing unit market is driven by the increasing adoption of AI and machine learning technologies in various sectors such as automotive, healthcare, and retail. The demand for real-time processing of image and video data is also fueling the growth of the market. Additionally, advancements in deep learning algorithms and computer vision have further enhanced the capabilities of vision processing units.

Segments and Related Analysis

By Technology:

- Artificial Intelligence (AI) Vision Processing Units

- Machine Learning Vision Processing Units

By End-Use Industry:

- Automotive

- Healthcare

- Retail

- Consumer Electronics

By Region Analysis

North America

The North American region is expected to dominate the vision processing unit market due to the presence of major technology companies and the high adoption of advanced technologies in industries such as automotive and healthcare.

Europe

Europe is projected to witness significant growth in the vision processing unit market owing to the increasing investments in autonomous vehicles and smart cities initiatives.

Asia Pacific

The Asia Pacific region is anticipated to register the highest CAGR in the vision processing unit market due to the expanding automotive industry and the rise in demand for consumer electronics.

Key Market Players and Competitive Landscape

Some of the key players in the vision processing unit market include Intel Corporation, NVIDIA Corporation, MediaTek Inc., Qualcomm Technologies, Inc., and Imagination Technologies Limited. These companies are focusing on developing advanced vision processing solutions to stay ahead in the competitive market.

Recent Happenings in the Vision Processing Unit Market

- In February 2021, NVIDIA announced the launch of the Jetson AGX Orin, a high-performance AI computer that integrates vision and graphics processing capabilities.

- In September 2021, Intel revealed its plans to launch a new vision processing unit for edge computing applications to enhance AI inference performance.

- In November 2021, Qualcomm introduced the Snapdragon Sight Series, a range of vision processing platforms for IoT devices and smart cameras.