Image Signal Processor and Vision Processor Market Size

Image Signal Processor & Vision Processor Market Analysis

The image signal processor and vision processor market is expected to register a CAGR of 6.9% during the forecast period. The market is expected to witness substantial growth due to a rise in the adoption of image signal processor and vision processor systems across a broad range of industry verticals, including consumer electronics, healthcare, automotive, and manufacturing. Notable research, production, and development investments also add to the market's growth.

• The market holds enormous growth potential for premium products like smartphones and the use of cameras and drones for surveillance applications. Furthermore, a surge in the usage of VPUs in security and surveillance cameras, unmanned aerial vehicles (UAVs), and automobiles, among other application areas, is driving the market's growth.
• The growing demand for high computational capability, rising demand for computer vision applications, increasing adoption of artificial intelligence and machine learning technologies, and growing need for ASICs are the principal factors that drive market growth.
• The primary determinant influencing the growth of the automotive sector is the adoption of electric and non-electric vehicles provided with advanced driver-assistance systems (ADAS) and infotainment systems. Increasing advancement and innovation in image signal processors and vision processors for ADAS systems are expected to boost market growth. For instance, in January this year, Light and Cadence Design Systems Inc. unveiled the deployment of the Cadence Tensilica Vision Q7 DSP in Light's Clarity Depth Perception Platform, which enables high-resolution long-range, depth perception utilizing industry-standard cameras to assist advanced driver-assistance systems.
• Although image signal and vision processors offer high performance, their production costs are substantial. It is related to increased cost since producing SoCs requires higher money. This factor raises the customer's ultimate price range and may impede market growth.
• The COVID-19 pandemic slowed the manufacture of several items in the image signal processor and vision processor production equipment industry owing to the continued lockdown in several global regions. Lockdown measures reduced the demand for electronic gadgets, which had a global impact on the semiconductor sector. The continued decline in worldwide demand and automobile export shipments negatively impacted the market, which is expected to slow the demand for semiconductor manufacturing equipment in the long run.