Vision Processing Unit Market : Rising Adoption of Artificial Intelligence and Machine Learning Technologies
The vision processing unit market is estimated to grow from USD 168.2 Million in 2018 to USD 946.0 Million by 2023, growing at a CAGR of 41.26% between 2018 and 2023.
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The major players in the ecosystem of the vision processing market are MediaTek (Taiwan), Cadence Design Systems (US), CEVA (US), Synopsys (US), Movidius (US), Inuitive (Israel), Lattice Semiconductor (US), VeriSilicon (China), and Imagination Technologies (UK).
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The growth of this market is mainly driven by the factors such as increasing demand for high computational capability, growing demand for computer vision applications, rising adoption of artificial intelligence and machine learning technologies, and rising need for ASICs.
Consumer vertical held the largest share of the vision processing unit market in 2017
The market for the consumer vertical is expected to hold the largest market share in 2017 for the vision processing unit because in the consumer segment includes lots of fast-growing applications such as smartphones, drones, and domestic robots. Smartphones, because of their high proliferation in coming years, are expected to drive the VPU market.
Market for drones expected to grow at the highest CAGR between 2018 and 2023
The vision processing unit market for drones is expected to grow at the highest CAGR between 2018 and 2023. Drones have high demand globally due to advancements in technology, and the use of AI-based VPU processors would help drones to better decision-making and reduce the risk of accidents. Industries are adopting drones, along with the existing software and patterns. Drones have several applications, such as image quality optimization