Vision Processing Unit Market Research Report - Global Forecast till 2030

Impact of COVID-19 on the Global Vision Processing Unit Market

A vision processing unit refers to a microprocessor that uses artificial intelligence along with machine learning technologies to deliver high-resolution images and consumes less power. The electronics sector has been considerably disrupted due to the spread of the COVID-19 pandemic across the globe. The consumers’ changing inclinations and purchase behavior due to fluctuations in the global economy are likely to influence the vision processing units market over the projected timeframe. Governments worldwide have imposed lockdowns, which has affected most of the industrial players across the globe and forced people to stay within their homes, which, in turn, has reduced the physical interaction among people. Most companies have permitted employees to operate from their homes to ensure business continuity during the COVID-19 pandemic, which is expected to hamper the growth of the vision processing units market over the forecast timeframe. The restrictions imposed on manufacturing operations to comply with the social distancing norms are likely to hamper the growth of the electronics industry, which, in turn, is expected to limit the growth of the global vision processing units market.

Operations in the electronics sector have been interrupted due to the COVID-19 crisis. The shift in consumer preference towards essential products is likely to influence the vision processing units market over the projected timeframe. Furthermore, the COVID-19 outbreak has resulted in the sealing of international boundaries, which has even caused a severe decline in the global demand for vision processing units and related products. Government authorities worldwide have enforced restrictions on travel. Hence, the market is also expected to be affected due to the decrease in the sales of vision processing units in the electronics sector.

Additionally, the restrictions on public gatherings along with travel bans in several countries are expected to hinder the growth of the vision processing unit market over the projected period. The increased focus on social distancing and personal care is likely to affect the demand for non-essential products, including vision processing units during the coming months. The spread of the pandemic has not only caused the loss of human lives but has also triggered the chances of a global economic recession.

Impact Analysis