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Albany, New York, July 24, 2019 (GLOBE NEWSWIRE) -- A recent Transparency Market Research (TMR) report predicts that factors such as machines vision systems in various business sectors is driving the growth of global vision processing unit market. TMR strengthens its fact by analyzing the adoption of machine vision systems in sectors such as healthcare, electronics, automotive, and manufacturing. Moreover, the growth of the market is also propelled by the growing adoption of drones in multiple business sectors and changing dynamics of end-user preferences.
It is noticeable that the market stood at US$148.9 mn in 2016. Looking at the rate of growth of the global vision processing unit market, it is evident that businesses have tremendous opportunities to grow and offer a better future in this industry.
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Automotive industry is flourishing in Asia Pacific. This rapid growth of the industry is making the region a leader in global vision processing unit market. Asia Pacific is expected to account major share in the growth of market. Also, the dominance of the region is attributed to rising electronics industry in various countries such as China and India. Owing to these two factors Asia Pacific is expected to exhibit maximum potential for the players of global vision processing unit market.
Other regions that has the presence of global vision processing unit market are North America, Europe, Latin America, and Middle East and Africa.
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The global vision processing unit market is moderately concentrated and is dominated by few prominent players. However, the entry of various new businesses in the market expected to make the competition quite tougher. In order to maintain their dominance in the market, the key players are inclining towards strategies such as mergers, collaborations, and partnerships. These strategies allow the players to have enhanced resource bank, greater production capacity, and streamlined supply chain. Owing to these factors, businesses can achieve a much required competitive edge over their rivals and have a sustainable growth in the global vision processing unit market.
Some of the key players of global vision processing unit market are Movidius, Inc., Synopsys, Inc., MediaTek, Inc., Imagination technologies Limited, Lattice Semiconductors, NXP semiconductors, and Active Silicon.
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The growth of global vision processing unit market is majorly driven by the adoption of machine vision systems in various businesses across the globe. Also, rising use of vision processing units in verticals such as healthcare, manufacturing, automotive, and electronics is yet again another key factor that is propelling the growth of the market.
Facilities such as real-time processing, and providing crystal clear image of an object makes the vision processing unit extremely helpful in various businesses. Owing to these facilities, the global vision processing unit market is expected to experience a major push in coming years. Moreover, various technological advancements, such as implementation of AI and ML, are also driving the growth of this market.
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Vision processing units have extensive application in smartphones. They help the device to provide a clear and high definition picture taken from its camera. This is another reason that is promoting the growth of global vision processing unit market in forecast of 2017 to 2025.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Vision Processing Unit Market (Application - Smartphones, Digital Cameras, Autonomous Vehicles, Wearable Devices, Drones, Robots, Medical Devices; Verticals - Consumer Electronics, Automotive, Industrial, Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
The global vision processing unit market is segmented on the basis of:
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