The global image signal processor & vision processor market is estimated to garner a revenue of USD 35,088.2 Million by the end of 2031 by growing at a CAGR of 11.1% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 9,555.5 Million in the year 2018. The growth of the market can be attributed to growing demand for premium smartphone owing to its advanced features including higher security, faster computing, and more. The premium smartphones witnessed the growth in sales by approximately 55%.
Furthermore, the growing internet penetration is expected to boost the demand for smartphones which in turn is anticipated to fuel the growth of the market for image signal processor & vision processor. In 2019, there were approximately 4 billion internet users, up from estimate 5% over the year 2018. The adoption of internet is higher among the younger age group.
There has been increasing demand for superior products which has encouraged organization to upgrade the functions of their products. In order to facilitate quick integration into both single-use and reusable endoscopes as well as catheters, OMNIVISION Technologies, Inc., announced a significant expansion of its OVMed medical image signal processor (ISP) family. This ISP family pairs with the company's high-performance medical image sensors. Hence the demand for image signal processor & vision processor is expected to increase.
A person's highest level of education is referred to as their educational attainment. In 2020, about 89% of people on earth had completed their primary education, whereas approximately 65% had completed their secondary education.
Household income had a very slight increase which was approximately 0.3% in 2020 as a result of the COVID-19 epidemic, compared to 2019, whereas the growth rate in 2021 was an approximate 2% as contrasted to 2020 in Europe.
As lockdowns became the new normal, firms and customers "went digital," offering and purchasing more goods and services online, increasing e-share commerce's of global retail trade from 14% in 2019 to around 17% in 2020.
Every developer of computer vision should have access to ML libraries and frameworks. In 2021, major DL libraries like TensorFlow, PyTorch, Keras, and MXNet received regular upgrades and corrections, and this trend is probably going to continue in the future.
Image signal processor (ISP) do have a strong performance but along with that their manufacturing cost is high. Owing to the additional expenditure on manufacturing SoCs, it is associated with higher cost. This aspect boosts the final price point for consumers and could slow the market's progress.
The global image signal processor & vision processor market is segmented and analysed for demand and supply by end-user into consumer electronics, security and surveillance, automotive, aerospace & defence, manufacturing, and medical. Out of which, the security and surveillance segment is expected to garner the revenue of USD 5,501.6 Million by the end of 2031, by growing with the highest CAGR of 11.7% over the forecast period. The segment holds the revenue of USD 1,409.9 Million in the year 2018. Increasing demand for security and surveillance camera for security purpose is expected to boost the market. Further the segment is anticipated to grow owing to the improved technology in camera for security purpose. For instance, Ambarella Announces AI-Based Image Signal Processing Advancement. In comparison to state-of-the-art traditional ISPs, a new neural network-based ISP improves low-light and HDR processing by up to 100 times. Additionally, the consumer electronics segment is expected to hold the largest revenue of USD 18,224.9 Million by the end of 2031.
Regionally, the global image signal processor & vision processor market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share of USD 22,140.7 Million by the end of 2031, up from the revenue of USD 5,781.1 Million in the year 2018. The market in Asia Pacific to grow at a CAGR of 11.5% during the forecast period, backed by wide range of start-up companies in the region which are expected to improve the safety of drones. Additionally, the area is home to companies that produce smart cameras and drones that incorporate VPUs into their designs. The Exynos 9 Series 9810, for instance, is Samsung's top-tier application processor (AP) and has better image processing capabilities owing to the deep learning.
Asia Pacific region consists of countries such as China, India, Australia, South Korea, Japan, and more. These countries have shown significant improvement in the market for image signal processor & vision processor. Out of these countries, the market in China is expected to garner the largest revenue of USD 11,601.7 Million by the end of 2031. However, the market in Japan is anticipated to grow at the highest CAGR of 12.1% during the forecast period.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Our in-depth analysis of the global image signal processor & vision processor market includes the following segments:
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global image signal processor & vision processor market that are included in our report are Texas Instruments Incorporated, Analog Devices Inc., STMicroelectronics, NXP Semiconductors, ARM Limited, Qualcomm Technologies, Inc., Cadence Design Systems Inc., Broadcom Inc., Fujitsu Ltd., Toshiba Corporation, Samsung, and Hitachi, Ltd.
FREQUENTLY ASKED QUESTIONS
The major factors driving the growth of the market are rise in education level, increasing disposal income, the growing proliferation of online businesses and availability of affordable smartphones, and others.
The market is anticipated to attain a CAGR of 11.1% over the forecast period, i.e., 2022-2031
Higher cost of ISP chips, technology restrain in manufacturing, and complex integrated components are some of the major factors expected to hinder the growth of the market.
The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Texas Instruments Incorporated, Analog Devices Inc., STMicroelectronics, NXP Semiconductors, ARM Limited, and others key players.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by types, components, end-user, and by region.
The security & surveillance segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization