growing adoption of deep learning and ai is driving the Vision Processing Unit Market
Technavio analyzes that the Vision Processing Unit Market is expected to grow at a CAGR of 25.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2931.1 million.There are various factors that contribute to the growth of the market. The Vision Processing Unit (VPU) market is experiencing significant growth due to the increasing adoption of deep learning and artificial intelligence (AI) technologies. Companies across various industries are integrating these advanced technologies into their operations to enhance productivity and efficiency. VPUs, which are specifically designed to accelerate computer vision workloads, are becoming an essential component in deploying deep learning models for real-time object detection, recognition, and classification. As a result, the demand for VPUs is expected to surge in the coming years, with the market projected to reach substantial growth.
In the consumer electronics industry, the integration of Vision Processing Units (VPUs) into System on Chips (SoCs) for Original Equipment Manufacturers (OEMs) producing AR and VR devices, consumer drones, smart cameras, and smartphones, is a significant trend. The escalating demand for these advanced electronic devices, coupled with the Internet of Things (IoT) market's adoption of Human-Machine Interface (HMI) technology, propels the consumer electronics segment's growth. AR and VR devices, which operate in real-time and employ intricate mathematical models, rely heavily on Central Processing Units (CPUs) for tasks such as object detection, feature extraction, and machine learning inference. However, these complex processes demand substantial time, energy, and processing power. Consequently, the integration of Application-Specific Integrated Circuits (ASICs) or Application-Specific Processors (ASPs) in the form of VPUs becomes indispensable for these devices to meet their performance requirements efficiently.
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Vision Processing Unit Market Segmentation
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The Vision Processing Unit market encompasses technologies like Machine Learning and Computer Vision, leveraging Convolutional Neural Networks and Image Processing for advanced functionalities. OpenCV and iGPUs facilitate computational efficiency, while Neural Networks and Algorithms power AI Acceleration. Devices like Neural Stick Compute 2 and USB Sticks offer deployment convenience. Imaging Accelerators handle tasks such as Denoising, Edge Detection, and Object Detection. VPU also includes the Neural Compute Engine, Vector Processors, and Microprocessors for video processing and AI workloads. The OAK-D Camera further enhances capabilities with its integrated features.
The Vision Processing Unit (VPU) market is a segment of the larger global semiconductor market, encompassing companies that manufacture integrated circuits (ICs) such as logic, memory, and micro components, sensors, and discrete semiconductors. According to Technavio, the global semiconductor market size is determined by the revenue generated from the shipment of semiconductor ICs to original equipment manufacturers (OEMs) and original design manufacturers (ODMs). These ICs may originate from fab or fabless companies and integrated device manufacturers (IDMs). The market's expansion will be fueled by significant investments in constructing new fabrication plants (fabs) and expanding existing ones, driven by the growing demand for advanced technologies like Machine Learning, Computer Vision, Convolutional Neural Networks, Image Processing, OpenCV, and iGPUs (integrated GPUs) that rely on Neural Networks.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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