Vision Processing Unit Market on Track for Strong Growth, Estimated to Grow at 18% CAGR Through 2029

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What Is the Expected CAGR for the Vision Processing Unit Market Through 2025?
In recent years, there has been a swift expansion in the market size of the vision processing unit. The market size is projected to surge from $2.84 billion in 2024 to $3.33 billion in 2025, depicting a compound annual growth rate (CAGR) of 17.1%. The upsurge in the past period is credited to the escalation in computer vision applications, a boosted demand for image and video processing, an incrusted utilization of artificial intelligence applications, along with the broadening scope of autonomous vehicles.

What's the Projected Size of the Global Vision Processing Unit Market by 2029?
The market size for vision processing units is predicted to undergo rapid expansion in the ensuing years, with a growth projection to reach $6.46 billion by 2029 growing at a compound annual growth rate (CAGR) of 18.0%. This anticipated growth in the forecast period is due to several factors, such as the incorporation of vision processing units in edge devices, the rise of augmented reality (AR) applications, the escalating demand for advanced driver-assistance systems (ADAS), the implementation of vision processing units in robotics, and a surge in their usage in intelligent surveillance systems. Key trends during this forecast period include the shrinking size of vision processing units, the emergence of power-saving processing architectures, the inclusion of AI accelerators in vision processing, the prevalence of real-time image and video analytics, and the adoption of neural processing units.

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Top Growth Drivers in the Vision Processing Unit Industry: What's Accelerating the Market?
The upsurge in the use of smartphones is projected to fuel the expansion of the vision processing unit market in the future. A smartphone denotes a mobile phone that has integrated computer and additional features that were not found in older phone models, like an operating system (OS), internet browsing, and the capability to operate software applications. The vision processing unit is instrumental in improving features like face recognition and gestures control on smartphones. For example, in February 2023, Uswitch Limited, a financial conduct authority based in the UK, stated that in 2022, there were 71.8 million mobile connections in the UK, marking a 3.8% (or roughly 2.6 million) rise compared to 2021. Additionally, it is estimated that by 2025, the UK will be home to 68.3 million people, and 95% (equivalent to nearly 65 million individuals) of this population will own smartphones. Thus, the surge in smartphone usage is contributing to the development of the vision processing unit market.

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What Trends Will Shape the Vision Processing Unit Market Through 2029 and Beyond?
Advances in product innovation are a critical trend observed in the vision processing unit market. Key players in this field are rolling out unique products in their quest to solidify their market standing. For instance, Hailo, a semiconductor manufacturer from Israel, unveiled a new vision processor unit known as Hailo-15, specially designed for edge smart cameras, in March 2023. Capable of delivering high-end video processing and analytics right at the boundary, this vision processor has wide-ranging applications in manufacturing, smart cities, and retail sectors. Its onboard system-on-chip can perform up to 20 trillion operations per second by using advanced deep learning models to carry out AI inference using a neural network core. The HailoV15H chipset, a high-performance version of the HailoV15 vision processor chipset, is equipped to process the YoloV5M6 object detection model at a real-time sensor rate.

What Are the Main Segments in the Vision Processing Unit Market?
The vision processing unitmarket covered in this report is segmented -

1) By Fabrication Process: Less Than Or Equal To 16 NM, More Than 16 To 28 NM
2) By Application: Smartphones, Medical Devices, Digital Cameras, Drones, Robots, Autonomous Vehicles, Wearable Devices
3) By Vertical: Consumer Electronics, Automotive, Industrial, Healare, Other Verticals

Subsegments:
1) By Less Than Or Equal To 16 NM: Advanced Finfet Process, Planar CMOS Technology, SOI (Silicon On Insulator) Technology
2) By More Than 16 To 28 NM: 20 NM Process, 22 NM Process, 28 NM Process

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Which Top Companies are Driving Growth in the Vision Processing Unit Market?
Major companies operating in the vision processing unit market include Google LLC, Samsung Electronics Co Ltd., Intel Corporation, Qualcomm Incorporated., Texas Instruments Incorporated, MediaTek Inc., Renesas Electronics, Synopsys Inc., Cadence Design Systems Inc, Xilinx, HiSilicon Technologies Co Ltd., Himax Technologies, Socionext Inc., Myriad Group, Lattice Semiconductor Corp, Imagination Technologies Limited, Rockchip Electronics Co. Ltd, Thundersoft, CEVA Inc., Cambricon Technologies, Blaize Inc., Ambarella Inc., VeriSilicon Inc., Horizon Robotics, Nextchip Co Ltd., Inuitive, NXP Semiconductors NV, Gyrfalcon Technology, Neurala Inc., Hailo Technologies

Which Regions Will Dominate the Vision Processing Unit Market Through 2029?
Asia-Pacific was the largest region in the vision processing unit market in 2024. The regions covered in the vision processing unit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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