Image Signal Processor & Vision Processor Market Trends

Growth Drivers

• Growing Demand for Superior Products with Upgraded Functions- 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.
• Rise in Education Level- 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.
• Increasing Disposal Income- 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.
• The Growing Proliferation of Online Businesses and Availability of Affordable Smartphones- 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.
• Rising Scope of Computer Vision Applications - 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.

Challenges

• Higher Cost of ISP Chips
• Technology Restrain in Manufacturing
• Complex Integrated Components