The advent of advanced and next gen technologies is significantly impacting the visual computing market, as smartphones and other mobile devices are witnessing the adoption of computation and image processing. Visual computing enables data retrieved from sensors such as cameras and GPS among others to be combined with analytics to provide intelligent insights. Visual computing, utilizing advanced co-processors and digital signal processors for encoding and decoding, has proven beneficial in various applications such as games, photos, videos, etc. Moreover, vendors are introducing advanced APIs that are beneficial in harnessing the computational power of smartphones and other devices efficiently for visual computing.
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Visual Computing Market: Drivers and Restraints
Increasing demand for advanced technologies in various applications is in turn driving demand for visual computing market. Virtual reality and augmented reality are witnessing high adoption in games as consumers are demanding improved graphics and user experience. Moreover, increasing use of smart whiteboards in educational institutions is another factor expected to act as a driver for visual computing market. Furthermore, increasing demand for improved image and video processing technologies in industries such as healthcare, entertainment is expected to act as a factor driving the growth of visual analytics market in the near future. However, visual computing market faces a few restraints such as lack of skilled labor and high installation costs among others.
Visual Computing Market: Segmentation
Visual computing market can be segmented on the basis of component, technology, applications, industries and regions. On the basis of component, the market can be segmented into software and hardware. The different types of technologies used in visual analytics are image processing, video processing and others. Visual computing market can be segmented on the basis of applications into interactive whiteboards, ultra high definition TVs, smartphones and tablets, interactive kiosks and others. On the basis of industries, visual computing market can be segmented into automotive, media & entertainment, healthcare, aerospace & defence and other. Region wise, the segmentation is done into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa.
Visual Computing Market: Regional Outlook
North America visual computing market is expected to dominate the global visual computing market owing to high penetration rate of advanced technologies and presence of established players. However, Asia Pacific excluding Japan and Japan are expected to witness high growth rates as consumers are increasingly becoming inclined to using latest technology. Western Europe visual computing market is expected to witness a moderate growth rate followed by Eastern Europe visual computing market and Middle East and Africa visual computing market.
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Visual Computing Market: Competition Landscape
Key players, such as Nvidia Corporation, ARM Holding Plc. and Intel Corporation among others focus on product introduction in order to deliver enhanced services to their clients and increase their customer base. For example, in January 2017, Nvidia Corporation introduced an open platform media streamer based on visual computing which will find application in gaming and streaming among other things.