According to a new market research report published by Credence Research “Image Processing Unit Market (Product Type – 2K, 4K and 8K; Application – Smartphones, Security/surveillance, Gaming, Automotive, Medical, Camera and Others) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall Image Processing Unit Market worldwide was valued at US$ 1,050.0 Mn in 2018 and is set to grow with a CAGR of 18.5% during the forecast period.
Major factor driving the growth of the Image Processing Unit Market is the growing adoption of the Artificial Intelligence and Deep Learning. Artificial Intelligence permits the computers to perform the functions like learning, problem-solving and reasoning which generally require the human intelligence. Artificial Intelligence collects, investigates, and stores the large volumes of the real-time data. Increasing adoption of the premium smartphone, rising adoption of the edge Artificial Intelligence, and escalating demand for the high-end computing competences for the computer and the machine vision acting as a major catalyst behind the market growth.
Rising security concern across different parts of the world and mounting use of the advanced high power processor for the real-time monitoring are some of the other factors which is driving the market demand for the advanced surveillance camera integrated with the IPUs. Applications like surveillance & rescue, high-altitude imaging, emergency response, forest fire observing, humanitarian aid, flood mapping, product delivery, oil spill observing, net connectivity, & photography are the major areas which is escalating the requirement of high quality image processing and hence driving the market at a higher pace.
Based on product type, 8k has better high dynamic range performance, the better color or better overall contrast ratio will give a much better look than the one that just has got more pixels. Intel’s Movidius Myriad 2, that is being used in most of edge devices, is being manufactured on the 28 nm technology. Further, based on application, security & surveillance segment continues to enjoy the major market share throughout the forecast period. Intelligent surveillance camera can only share the short video, even after noticing the serious threats which require direct human involvement.
Implementation of the IPUs enables the cameras to identify the threats logically by avoiding the false positives, which actually ensure the smooth data sharing. Based on the geography, North America dominates the market with high revenue share across the globe. The Image Processing Unit business in APAC is estimated to experience lucrative growth opportunities in the forecast period. Market growth is due to presence of various Artificial Intelligence processor start-ups in this region.
Some of the major companies profiled in the report include Fujitsu, Sony, Intel, THine Electronics ,Renesas, Texas Instruments, ON Semiconductor, Socionext, STMicroelectronics, MediaTek and Helion GmbH among others .
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