The Vision Processing Unit Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Vision Processing Unit Global Market Report 2024, The vision processing unit market size has grown rapidly in recent years. It will grow from $2.43 billion in 2023 to $2.9 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be attributed to growth in computer vision applications, increase in demand for image and video processing, rise in artificial intelligence applications, expansion of autonomous vehicles.
The vision processing unit market size is expected to see rapid growth in the next few years. It will grow to $5.54 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The growth in the forecast period can be attributed to integration of vision processing units in edge devices, expansion of augmented reality (ar) applications, growth in demand for advanced driver-assistance systems (adas), adoption of vision processing units in robotics, increased use in smart surveillance systems. Major trends in the forecast period include miniaturization of vision processing units, development of energy-efficient processing architectures, integration of ai accelerators in vision processing, rise of real-time image and video analytics, adoption of neural processing units.
An increase in smartphone adoption is expected to propel the growth of the vision processing unit market going forward. A smartphone refers to a cellular phone with a built-in computer and other functionality not previously present in phones, such as an operating system (OS), web browsing, and the ability to run software programs. The vision processing unit aids in enhancing features like facial recognition and gesture control on smartphones. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. Further, by 2025, there will be 68.3 million people living in the UK, of whom 95% (or about 65 million people) are expected to have smartphones. Therefore, the increase in smartphone adoption is driving the growth of the vision processing unit market.
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The vision processing unit market 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, Healthcare, Other Verticals
Product innovation is a key trend gaining popularity in the vision processing unit market. Major companies operating in the vision processing unit market are introducing innovative products to maintain their position in the market. For instance, in March 2023, Hailo, an Israel-based semiconductor manufacturing company, launched Hailo-15, a new vision processor unit for smart cameras at the edge. The vision processor offers high-performance video processing and analytics at the border and has numerous applications in manufacturing, smart cities, and retail settings. The onboard system-on-chip can execute up to 20 trillion operations per second while running cutting-edge deep learning models that enable AI inference using a neural network core. The YoloV5M6 object detection model can be processed by the HailoV15H chipset, a variant of the HailoV15 vision processor chipset with the highest performance metrics at a real-time sensor rate.
The vision processing unit market report table of contents includes:
1) By Type: Organic, Conventional
2) By Distribution Channels: Offline, Online
3) By Application: Direct Consumption, Indirect Consumption, Food And Beverages, Cosmetics And Personal Care, Pharmaceuticals
Product innovation is a key trend gaining popularity in the virgin coconut oil market. Companies operating in the virgin coconut oil market are implementing innovative products to sustain their position in the market. For instance, in August 2023, Marico Limited, an India-based consumer goods company, launched Parachute Advansed Baby, a brand-new range that comes with six carefully chosen items, including massage oil, nourishing soap, nourishing shampoo, nourishing lotion, nourishing cream, and refreshing powder. Each item is made to offer the best possible care for your baby’s sensitive skin. The beneficial properties of 100% virgin coconut oil, a natural source of certain nutrients also present in mother’s milk, are added to all of the range’s goods. The Parachute Advanced Baby line ensures your baby’s complete growth and development by embodying the delicate mix of science and nature. Each product is doctor-certified, new-born-safe, and has been designed to be as delicate as your baby’s needs right from the outset.
The virgin coconut oil market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
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